Kensington, MD is a desirable location for many reasons. With its close proximity to Washington DC and its excellent public transport links, Kensington has become an increasingly popular destination for people looking to settle down in the area. It also boasts a diverse range of businesses from small mom-and-pop stores to large global companies such as Marriott International and Lockheed Martin. Additionally, the cost of living is relatively low compared to other parts of the country with two bedroom rent set at $1,920 per month while it's $1,430 on average in the US as well as a grocery cost index of 115 compared to 100 for the US. Overall, Kensington provides an affordable and comfortable environment for those seeking an enjoyable lifestyle in Maryland.
Kensington has an unemployment rate of 5.7%. The US average is 6.0%.
Kensington 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 Kensington
- The Sales Tax Rate for Kensington is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Kensington 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 Kensington
- The average income of a Kensington resident is $63,415 a year. The US average is $28,555 a year.
- The Median household income of a Kensington resident is $132,132 a year. The US average is $69,021 a year.