Severn, MD is an attractive and desirable place to live, with pleasant climates year-round. It is a great location for those who are looking for a peaceful and affordable environment. The average two bedroom rent in Severn is $2,000 which is significantly higher than the national average of $1,430. Furthermore, the grocery cost index in Severn is 104 compared to the US average of 100.
There are many local businesses that make up the area of Severn such as MGM National Harbor Casino & Resort, Maryland Live Casino at Arundel Mills Mall, Six Flags America amusement park, and Capital Clubhouse fun center. With so many options available for entertainment it’s no wonder that people are drawn to this area. In addition to entertainment there are plenty of restaurants and stores located throughout the city as well as many cultural attractions such as museums and art galleries.
Overall Severn offers its residents an enjoyable atmosphere with numerous activities located conveniently nearby. With reasonably priced housing when compared to other areas in the country along with various entertainment options it’s easy to see why this Maryland town has become such a desirable place to live.
Severn has an unemployment rate of 4.9%. The US average is 6.0%.
Severn 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 32.7%, which is lower than the US average of 33.5%.
Tax Rates for Severn
- The Sales Tax Rate for Severn is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Severn is 7.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Severn
- The average income of a Severn resident is $38,691 a year. The US average is $28,555 a year.
- The Median household income of a Severn resident is $115,481 a year. The US average is $69,021 a year.