Algonquin, MD is a desirable place to live, as evidenced by its relatively low 2 bedroom rent of $990. This makes it less expensive than the US average of $1,430 per month. Additionally, groceries cost less in Algonquin than the US average, with an index score of 99 versus 100. \nLiving and working in Algonquin can be beneficial for those looking to save money without sacrificing quality. The city has many notable companies including McMartin Industries, Revonix Aerospace, and First National Bank. These businesses provide employment opportunities for those residing in the area.
Algonquin has an unemployment rate of 6.3%. The US average is 6.0%.
Algonquin has seen the job market decrease by -2.5% over the last year. Future job growth over the next ten years is predicted to be 18.5%, which is lower than the US average of 33.5%.
Tax Rates for Algonquin
- The Sales Tax Rate for Algonquin is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Algonquin is 7.4%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Algonquin
- The average income of a Algonquin resident is $37,094 a year. The US average is $28,555 a year.
- The Median household income of a Algonquin resident is $56,413 a year. The US average is $69,021 a year.