Chevy Chase Section Five, MD is a comfortable suburb just outside of Washington D.C. It's home to many families looking for a peaceful place to live with plenty of greenery, nearby parks, and good schools. The cost of living here is higher than most areas due to its close proximity to the capital city. For example, 2 Bedroom rent in Chevy Chase Section Five is $2,450 compared to the US average of $1,430. Additionally, grocery costs are also higher with an index score of 119 versus 100 in the US.
The area also offers great opportunities for employment - local companies such as Walter Reed National Military Medical Center, Lockheed Martin Corporation Bethesda Office and Marriott International Headquarters are located here. With excellent job prospects and a low crime rate it’s no wonder why people choose this region as their new home. All factors considered Chevy Chase Section Five offers residents a comfortable quality of life and an affordable cost of living that’s well worth the investment.
Chevy Chase Section Five has an unemployment rate of 5.7%. The US average is 6.0%.
Chevy Chase Section Five has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 31.0%, which is lower than the US average of 33.5%.
Tax Rates for Chevy Chase Section Five
- The Sales Tax Rate for Chevy Chase Section Five is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Chevy Chase Section Five is 8.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Chevy Chase Section Five
- The average income of a Chevy Chase Section Five resident is $125,861 a year. The US average is $28,555 a year.
- The Median household income of a Chevy Chase Section Five resident is $250,001 a year. The US average is $69,021 a year.