Lonaconing, MD is a modest town located in Allegany County. It has a population of 852 according to the 2019 Census. The cost of living is lower than the US average; 2 bedroom rent costs just $800, compared to the US average of $1430 per month, and the Grocery Cost Index in Lonaconing is 98 versus 100 in the US. The town offers plenty of local amenities for its inhabitants, including Elmer's Town & Country Store, Smith Mountain Petroleum gas station, and two restaurants - Spic 'N Span Diner and Lonaco Inn. The town also has several churches, a library, a post office, and a fire hall. Lonaconing provides its residents with affordable housing options and access to basic services.
Lonaconing has an unemployment rate of 6.9%. The US average is 6.0%.
Lonaconing has seen the job market decrease by -7.1% over the last year. Future job growth over the next ten years is predicted to be 24.6%, which is lower than the US average of 33.5%.
Tax Rates for Lonaconing
- The Sales Tax Rate for Lonaconing is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lonaconing is 7.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lonaconing
- The average income of a Lonaconing resident is $21,847 a year. The US average is $37,638 a year.
- The Median household income of a Lonaconing resident is $46,125 a year. The US average is $69,021 a year.