Frederick, MD is an up-and-coming city located in the heart of Maryland. It has a thriving economy and is home to many local businesses. Notable companies such as Flying Dog Brewery, Hood College, and Fort Detrick are based here. Despite being slightly more expensive than the national average for 2-bedroom rent, it still remains relatively affordable at $1,520 per month. The grocery cost index is also higher in Frederick than on a national level; however, the difference is minor with an index of 107 compared to 100 nationally. Therefore living in Frederick can be both convenient and affordable for those who are looking to save money while enjoying all that this city has to offer.
Frederick has an unemployment rate of 5.4%. The US average is 6.0%.
Frederick has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 30.6%, which is lower than the US average of 33.5%.
Tax Rates for Frederick
- The Sales Tax Rate for Frederick is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Frederick is 7.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Frederick
- The average income of a Frederick resident is $32,751 a year. The US average is $28,555 a year.
- The Median household income of a Frederick resident is $82,563 a year. The US average is $69,021 a year.