Derwood, MD is a vibrant community located in Montgomery County. It offers many great amenities including 2 bedroom rental prices at $2,180, lower than the average US rental cost of $1,430. The grocery cost index is also higher than the national average, 112 versus 100. This could be attributed to Derwood's lively local business environment. Several notable companies have offices in Derwood such as Lockheed Martin Corporation, Coventry Health Care and Suburban Hospital Healthcare System. There are also a variety of smaller businesses based in Derwood ranging from banks to restaurants. All of these businesses help make Derwood an attractive place to live for both individuals and families alike.
Derwood has an unemployment rate of 5.7%. The US average is 6.0%.
Derwood has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 31.0%, which is lower than the US average of 33.5%.
Tax Rates for Derwood
- The Sales Tax Rate for Derwood is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Derwood is 8.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Derwood
- The average income of a Derwood resident is $34,360 a year. The US average is $28,555 a year.
- The Median household income of a Derwood resident is $71,471 a year. The US average is $69,021 a year.