Savage, MD is a great place to live for those looking for a community with an abundance of amenities and affordable housing. Although the rent for two-bedroom apartments is relatively higher than the average US rent ($1,780 compared to $1,430), the cost of living in Savage is actually lower due to its Grocery Cost Index being 103 versus 100 in the US. Local companies in Savage include Giant Food Supermarket, Compu Dynamics LLC, Advanced Medical Surgical Specialty Pharmacy, and Fidelity Investments. With nearby access to Columbia Mall and Laurel Town Center which both offer plenty of shopping and entertainment opportunities, Savage provides something for everyone.
Savage has an unemployment rate of 4.5%. The US average is 6.0%.
Savage 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 34.2%, which is higher than the US average of 33.5%.
Tax Rates for Savage
- The Sales Tax Rate for Savage is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Savage 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 Savage
- The average income of a Savage resident is $38,163 a year. The US average is $28,555 a year.
- The Median household income of a Savage resident is $106,625 a year. The US average is $69,021 a year.