New Market, MD is a great place to live and work. The cost of living is relatively low compared to the national average, with two-bedroom rent averaging around $2,130 compared to the US average of $1,430. Grocery costs are also lower in New Market than other cities across the country with an index of 110 in comparison to 100 nationally. Several major companies have a presence in New Market such as Amazon, Tedco Toys, and Antietam Brewery. In addition to these establishments there are also plenty of locally owned businesses that offer unique services such as The Chicken Galley Restaurant, Hill's Produce Farm Stand, and JT's Country Store. New Market offers something for everyone with its appealing cost of living and variety of local companies and services.
New Market has an unemployment rate of 4.9%. The US average is 6.0%.
New Market 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 New Market
- The Sales Tax Rate for New Market is 6.0%. The US average is 7.3%.
- The Income Tax Rate for New Market 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 New Market
- The average income of a New Market resident is $38,314 a year. The US average is $28,555 a year.
- The Median household income of a New Market resident is $175,982 a year. The US average is $69,021 a year.