Malvern, PA is a quaint town located in eastern Pennsylvania. It has a population of 2,719 people as of 2020, making it perfect for those seeking to live in a smaller community while still being close to the city. The average rent for a two-bedroom apartment is $2,120 per month, which is slightly higher than the national average of $1,430. The cost of living is also higher here than average with the Grocery Cost Index coming in at 112 versus 100 in the US. There are many notable local companies such as Malvern Federal Savings Bank and Vanguard Group who are both financial services firms. Other well-known businesses include D+H USA Inc., which specializes in software development and Valassis Communications Inc., which focuses on advertising and marketing solutions.
Malvern has an unemployment rate of 4.7%. The US average is 6.0%.
Malvern has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 29.2%, which is lower than the US average of 33.5%.
Tax Rates for Malvern
- The Sales Tax Rate for Malvern is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Malvern is 4.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Malvern
- The average income of a Malvern resident is $40,779 a year. The US average is $28,555 a year.
- The Median household income of a Malvern resident is $110,179 a year. The US average is $69,021 a year.