Solomons, MD is a small town located in Calvert County on Maryland's western shore. It is known for its fishing and crabbing industry, as well as for its historic waterfront area which is home to numerous restaurants, shops, hotels, and attractions. The town has seen significant growth in recent years due to its desirable location near amenities like Washington D.C., Baltimore, and Annapolis.
Most notably, Solomons is known for having some of the highest rental prices and grocery costs in the state. A two-bedroom apartment rents for about $2,110 per month while the US average sits at $1,430. Additionally, the Grocery Cost Index is 107 versus 100 in the US. Despite those higher costs of living there are still numerous local businesses that make it an attractive place to live; popular companies include White Sands Marina & Resort, Solomons Boat Works Inc., and The Island Hideaway Boutique Hotel.
Solomons has an unemployment rate of 4.5%. The US average is 6.0%.
Solomons 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 Solomons
- The Sales Tax Rate for Solomons is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Solomons 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 Solomons
- The average income of a Solomons resident is $54,518 a year. The US average is $28,555 a year.
- The Median household income of a Solomons resident is $113,235 a year. The US average is $69,021 a year.