Hillsboro, MD is a small town located in Montgomery County with a population of around 11,000 people. The cost of living is relatively lower than many other cities in the region, with the average rental price for a two bedroom apartment being $1,040 compared to the national average of $1,430. Grocery costs are also lower than the national average, with the Grocery Cost Index at 100 versus 100 in the US. There are various local businesses operating in Hillsboro such as Old Towne Pub & Grille which offers delicious burgers and sandwiches and Rain or Shine Ice Cream & Treats that serves delectable ice cream treats. Another popular business is The Olive Branch Bakery which specializes in cakes and pastries as well as cupcakes and cookies. All these businesses provide quality service at reasonable prices making it easy to afford living in Hillsboro.
Hillsboro has an unemployment rate of 4.9%. The US average is 6.0%.
Hillsboro has seen the job market decrease by -0.8% over the last year. Future job growth over the next ten years is predicted to be 29.4%, which is lower than the US average of 33.5%.
Tax Rates for Hillsboro
- The Sales Tax Rate for Hillsboro is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Hillsboro is 7.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hillsboro
- The average income of a Hillsboro resident is $22,390 a year. The US average is $28,555 a year.
- The Median household income of a Hillsboro resident is $62,917 a year. The US average is $69,021 a year.