Elkton, MD is an attractive city to live in due to its competitive rental rates. The average 2 bedroom rent in Elkton is $1,450, which is slightly higher than the US average of $1,430. Additionally, the grocery cost index in Elkton is 101 compared to 100 across the US. This indicates that grocery costs in Elkton are slightly higher than the national average. As a city with a small population size and established local businesses such as Main Street Books and RKL Construction, Elkton provides its residents with affordable housing prices and convenient access to local stores, making it a great place to call home.
Elkton has an unemployment rate of 5.3%. The US average is 6.0%.
Elkton has seen the job market decrease by -5.5% over the last year. Future job growth over the next ten years is predicted to be 28.2%, which is lower than the US average of 33.5%.
Tax Rates for Elkton
- The Sales Tax Rate for Elkton is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Elkton is 7.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Elkton
- The average income of a Elkton resident is $29,610 a year. The US average is $37,638 a year.
- The Median household income of a Elkton resident is $57,682 a year. The US average is $69,021 a year.