College Park, MD is an exciting and vibrant city located near Washington, D.C., making it a great place to live. The average two-bedroom rent in the area is $1,690, slightly higher than the nation-wide average of $1,430. Grocery costs in College Park are also slightly above the national average; in College Park the grocery index is 108 compared to 100 nationwide. Living in College Park offers more than just comfortable living expenses; local employers, such as University of Maryland and Marriott International are found in the area and provide ample employment opportunities for those looking for work. For those who prefer small businesses, local favorites such as Franklin’s Restaurant and Brewery offer unique dishes and a fun atmosphere. College Park truly offers something for everyone!
College Park has an unemployment rate of 6.8%. The US average is 6.0%.
College Park has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 33.1%, which is lower than the US average of 33.5%.
Tax Rates for College Park
- The Sales Tax Rate for College Park is 6.0%. The US average is 7.3%.
- The Income Tax Rate for College Park 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 College Park
- The average income of a College Park resident is $17,809 a year. The US average is $28,555 a year.
- The Median household income of a College Park resident is $69,736 a year. The US average is $69,021 a year.