Owings, MD is a small community situated along the Patuxent River in Maryland. It is known for its beautiful natural scenery and vibrant community. The average two bedroom rent in Owings, MD is $1,570 compared to the US 2 Bedroom Rent of $1,430 making it slightly more expensive than other areas. Additionally, grocery cost index in Owings, MD is 111 versus 100 in the US further illustrating the higher cost of living in Owings. Despite the higher cost of living there are many local businesses that make Owings an attractive place to live and work. Some of these companies include Flexo Concepts Inc., Drum Brothers LLC and GTM Payroll Services Inc. These companies offer a wide variety of services from printing products to payroll services which make for a diverse business environment in Owings.
Owings has an unemployment rate of 4.5%. The US average is 6.0%.
Owings has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 37.3%, which is higher than the US average of 33.5%.
Tax Rates for Owings
- The Sales Tax Rate for Owings is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Owings is 7.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Owings
- The average income of a Owings resident is $34,978 a year. The US average is $28,555 a year.
- The Median household income of a Owings resident is $130,104 a year. The US average is $69,021 a year.