Montauk, NY is a popular vacation spot known for its stunning beaches and beautiful scenery. Renting a two-bedroom in Montauk is about $2,980 which is more than double the average rent of two-bedrooms across the United States at $1,430. The Grocery Cost Index in Montauk also stands at 116 compared to the national index of 100. There are many popular local companies in Montauk such as Duryea's Lobster Deck, Liar's Saloon & Grill, Surf Lodge, and Clam Bar & Restaurant. Clearly if planning a vacation to Montauk it would be wise to budget and prepare for higher costs of living than other areas of the US.
Montauk has an unemployment rate of 6.1%. The US average is 6.0%.
Montauk has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 26.8%, which is lower than the US average of 33.5%.
Tax Rates for Montauk
- The Sales Tax Rate for Montauk is 8.6%. The US average is 7.3%.
- The Income Tax Rate for Montauk 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 Montauk
- The average income of a Montauk resident is $46,953 a year. The US average is $28,555 a year.
- The Median household income of a Montauk resident is $135,927 a year. The US average is $69,021 a year.