Armonk, NY is a small town located in Westchester County in New York state. It is within close proximity to New York City, making it popular among commuters who work in the city. The cost of living is steep compared to other suburbs due to the high rental prices and grocery costs. A 2 bedroom apartment will typically rent for $3,000 while the US average rent for a 2 bedroom is $1,430. Grocery Cost Index in Armonk is also notably higher than most places with an index of 114 compared to 100 nationally. Despite its high cost of living, many people are drawn to Armonk due to its thriving local economy. Major corporations such as IBM have their headquarters here and companies like PepsiCo also maintain a presence in the area. Armonk has something special that keeps people coming back despite its pricey rents and groceries; it's location, convenience, and sense of community make it worth calling home.
Armonk has an unemployment rate of 6.2%. The US average is 6.0%.
Armonk 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 26.5%, which is lower than the US average of 33.5%.
Tax Rates for Armonk
- The Sales Tax Rate for Armonk is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Armonk is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Armonk
- The average income of a Armonk resident is $101,571 a year. The US average is $28,555 a year.
- The Median household income of a Armonk resident is $218,175 a year. The US average is $69,021 a year.