Wheaton, MD is a small suburb located just outside of Washington D.C. It has a thriving economy full of local businesses including the Redwood Restaurant Group, Mathnasium of Wheaton, B & B Expert Services and many more. Residents in Wheaton enjoy an affordable rent cost compared to other locations with the average two bedroom rent being $1,910 whereas the US average is $1,430. The grocery cost index in Wheaton is 110 compared to 100 in the US. As such, Wheaton offers its residents an escape from the busyness of city life while still maintaining proximity to the nation’s capital for work or leisure trips.
Wheaton has an unemployment rate of 5.7%. The US average is 6.0%.
Wheaton has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 31.0%, which is lower than the US average of 33.5%.
Tax Rates for Wheaton
- The Sales Tax Rate for Wheaton is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Wheaton is 8.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Wheaton
- The average income of a Wheaton resident is $28,800 a year. The US average is $28,555 a year.
- The Median household income of a Wheaton resident is $95,625 a year. The US average is $69,021 a year.