Vale Summit, MD is a suburb of Washington D.C. located in Montgomery County. It is an attractive location for families due to its low crime rate, excellent schools, and ample parklands and trails for recreational activities. The cost of living in Vale Summit is quite reasonable compared to other places in the region with two bedroom rents at $880 per month and a grocery cost index of 102 compared to the US average of 100. Local companies include government agencies like NIH and FDA, as well as private businesses such as Marriott International, Verizon Media, Lockheed Martin Corporation, Rockwell Automation Inc., Montgomery College and The United States Golf Association. In summary, Vale Summit provides a great place to live with many job opportunities and an affordable cost of living.
Vale Summit has an unemployment rate of 6.9%. The US average is 6.0%.
Vale Summit 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 Vale Summit
- The Sales Tax Rate for Vale Summit is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Vale Summit 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 Vale Summit
- The average income of a Vale Summit resident is $67,451 a year. The US average is $37,638 a year.
- The Median household income of a Vale Summit resident is $163,125 a year. The US average is $69,021 a year.