Germantown, MD is a thriving city located in Montgomery County near Washington D.C. It's an attractive place to live because of its range of local companies, attractions, and amenities. On the business front, big names like Lockheed Martin and Pepco are headquartered in Germantown. There are also a variety of recreational activities for residents including snow tubing at GERMANTOWN INDOOR SPORTS COMPLEX or mini-golf at Pirate's Cove Adventure Golf. Additionally, the city boasts plenty of dining options from casual eateries such as Andale Mexican Grill to fine-dining destinations like Seneca House Restaurant & Bar. Shopping opportunities abound in Germantown too with stores at Milestone Shopping Center and The Shops at Summit Grove among others. As for housing costs, 2 Bedroom Rent in Germantown is around $1,950 whereas US 2 Bedroom Rent is $1,430. Grocery Cost Index in Germantown is 109 versus 100 in the US. All things considered, Germantown has much to offer and is definitely worth considering when searching for a place to live!
Germantown has an unemployment rate of 5.7%. The US average is 6.0%.
Germantown 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 Germantown
- The Sales Tax Rate for Germantown is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Germantown 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 Germantown
- The average income of a Germantown resident is $36,725 a year. The US average is $28,555 a year.
- The Median household income of a Germantown resident is $104,061 a year. The US average is $69,021 a year.