St. Michaels, MD is a charming town located in Talbot County on the Eastern Shore of Maryland. With its small-town charm and abundance of waterfront activities, it’s no wonder St. Michaels is a popular vacation destination. The local economy is driven by tourism, with many businesses in the area including car rentals, boat charters, restaurants, hotels, and attractions like Chesapeake Bay Maritime Museum and St. Michaels Winery & Distillery. The city also has a small downtown district that boasts plenty of unique shops and art galleries for visitors to explore. Rent for two bedrooms in St. Michaels is higher than the U.S average at $1,710 monthly versus $1,430 nationally; however, the cost of groceries is slightly lower at an index of 106 versus 100 in the US.
St. Michaels has an unemployment rate of 5.4%. The US average is 6.0%.
St. Michaels has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 28.3%, which is lower than the US average of 33.5%.
Tax Rates for St. Michaels
- The Sales Tax Rate for St. Michaels is 6.0%. The US average is 7.3%.
- The Income Tax Rate for St. Michaels is 7.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for St. Michaels
- The average income of a St. Michaels resident is $33,978 a year. The US average is $28,555 a year.
- The Median household income of a St. Michaels resident is $69,057 a year. The US average is $69,021 a year.