Hampton, MD is an attractive location for many people living in the area due to its affordable rental rates. The average 2 bedroom rent in Hampton is $1,540 which is $110 less than the national average of $1,430. It also has a lower cost of living when compared to the US as evidenced by its Grocery Cost Index of 104 versus 100 for the country as a whole. The city offers plenty of opportunities to work and live comfortably with large companies such as Stanley Black & Decker, Stibo Systems USA Inc., and ManTech International Corporation located there. All this makes Hampton an ideal destination for those looking for a more affordable lifestyle than what can be found elsewhere in the US.
Hampton has an unemployment rate of 6.0%. The US average is 6.0%.
Hampton has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 30.1%, which is lower than the US average of 33.5%.
Tax Rates for Hampton
- The Sales Tax Rate for Hampton is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Hampton is 7.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hampton
- The average income of a Hampton resident is $50,435 a year. The US average is $28,555 a year.
- The Median household income of a Hampton resident is $161,680 a year. The US average is $69,021 a year.