Economy in Gaithersburg, Maryland

Gaithersburg, MD is a bustling city close to Washington, D.C. It is known for its affordable cost of living, with average 2 bedroom rental rates being $1,920 versus the US average of $1,430. In addition to housing costs, the Grocery Cost Index in Gaithersburg is 112 compared to 100 in the US. Local companies such as Sodexo and Lockheed Martin have headquarters in Gaithersburg. The city is also home to several popular attractions such as Black Hill Regional Park and Rio Washingtonian Center. Gaithersburg provides many opportunities for residents and visitors alike, making it an ideal destination for anyone looking for an exciting place to live or visit.

Gaithersburg has an unemployment rate of 6.1%. The US average is 6.0%.

Gaithersburg 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 31.1%, which is lower than the US average of 33.5%.

Tax Rates for Gaithersburg
- The Sales Tax Rate for Gaithersburg is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Gaithersburg 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 Gaithersburg
- The average income of a Gaithersburg resident is $39,846 a year. The US average is $28,555 a year.
- The Median household income of a Gaithersburg resident is $78,441 a year. The US average is $53,482 a year.