Cambridge, MD is a charming city in the Eastern Shore region of Maryland. This city is home to many great businesses and amenities, such as the Hyatt Regency Chesapeake Bay Golf Resort, Spa, and Marina which offers luxurious accommodation and excellent golf courses. Additionally, Cambridge boasts a variety of unique eateries like The High Spot Cafe that serves locally sourced salads, sandwiches, and wraps. Other popular attractions in the area include Sailwinds Park where visitors can take sailing lessons or enjoy kayaking on the river. For shoppers, there are many stores located downtown offering everything from clothing to antiques. The cost of living in Cambridge is also relatively low with 2 Bedroom Rent being around $990 compared to the US average of $1,430 as well as a Grocery Cost Index of 99 compared to the US index of 100. All these points make Cambridge an ideal place to live for those looking for affordable housing options near plenty of local amenities.
Cambridge has an unemployment rate of 6.3%. The US average is 6.0%.
Cambridge has seen the job market decrease by -2.5% over the last year. Future job growth over the next ten years is predicted to be 18.5%, which is lower than the US average of 33.5%.
Tax Rates for Cambridge
- The Sales Tax Rate for Cambridge is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Cambridge is 7.4%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Cambridge
- The average income of a Cambridge resident is $20,601 a year. The US average is $28,555 a year.
- The Median household income of a Cambridge resident is $40,094 a year. The US average is $69,021 a year.