Towson, MD is a thriving city located just outside of Baltimore. It is home to numerous local businesses such as Towson University, the Towson Town Center Mall, and many restaurants. The 2 Bedroom Rent in Towson, MD is $1,650 which is slightly higher than the US average of $1,430. This indicates that it may be more expensive to rent in Towson than other cities in the US. Additionally, the Grocery Cost Index in Towson is 104 versus 100 throughout the US which suggests that groceries are typically more expensive in this area. Despite these facts, Towson remains an attractive place due to its many amenities and employment opportunities. Its close proximity to Baltimore also makes it ideal for those who want access to big city conveniences without having to live there full-time.
Towson has an unemployment rate of 6.0%. The US average is 6.0%.
Towson has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 30.1%, which is lower than the US average of 33.5%.
Tax Rates for Towson
- The Sales Tax Rate for Towson is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Towson 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 Towson
- The average income of a Towson resident is $39,010 a year. The US average is $28,555 a year.
- The Median household income of a Towson resident is $93,435 a year. The US average is $69,021 a year.