Monrovia, MD is a small town located in Montgomery County just outside of Washington D.C. With a population of just over 2,000 people, it is an ideal place to live for those looking for a quieter lifestyle. The average rent for a two-bedroom apartment in Monrovia is $1,870 compared to the U.S. average of $1,430. Additionally, the local grocery cost index is 111 versus 100 in the U.S., signifying that food costs are higher than the national average. There are many companies located in Monrovia such as Lowe’s Home Improvement and 12 Round Boxing Club & Gym offering job opportunities to locals and visitors alike.
Monrovia has an unemployment rate of 4.9%. The US average is 6.0%.
Monrovia has seen the job market increase by 0.6% 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 Monrovia
- The Sales Tax Rate for Monrovia is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Monrovia is 7.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Monrovia
- The average income of a Monrovia resident is $34,938 a year. The US average is $28,555 a year.
- The Median household income of a Monrovia resident is $198,611 a year. The US average is $69,021 a year.