Kent Narrows, MD is a small town located on the Chesapeake Bay in Queen Anne's County. It has a population of about 1,000 people and offers a unique combination of rural charm and urban amenities. The cost of living in Kent Narrows is slightly above the national average due to the median 2 bedroom rent being $2,110 compared to $1,430 in the US. Similarly, the Grocery Cost Index for Kent Narrows is 105 versus 100 nationally. Popular local businesses include IHOP Restaurant and YMCA Camp Letts. The local economy is driven primarily by tourism as well as its proximity to Annapolis and Baltimore which gives Kent Narrows access to major markets and employment opportunities. According to the latest figures available, The Gross Domestic Product (GDP) for Kent Narrows was estimated at $716 million in 2018.
Kent Narrows has an unemployment rate of 4.4%. The US average is 6.0%.
Kent Narrows 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 31.2%, which is lower than the US average of 33.5%.
Tax Rates for Kent Narrows
- The Sales Tax Rate for Kent Narrows is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Kent Narrows 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 Kent Narrows
- The average income of a Kent Narrows resident is $72,924 a year. The US average is $28,555 a year.
- The Median household income of a Kent Narrows resident is $106,196 a year. The US average is $69,021 a year.