Montgomery County, MD is a great place to live with a wide variety of activities and amenities for all ages. Located in the heart of Maryland, Montgomery County has a strong economy and is home to many successful companies such as Marriott International, Discovery Communications, Lockheed Martin, and W.R. Grace & Co. With an average rent for a two bedroom being $1,840 per month, the cost of living in Montgomery County is slightly higher than the national average of $1,430 but is offset by its numerous cultural attractions and opportunities for leisure activities. From high-end shopping malls to local farmers markets to outdoor recreation spots like Rock Creek Park and Great Falls Park there are plenty of options for residents to explore nearby. The county also boasts some of the best schools in the state making it an ideal place to raise children. Finally, due to its proximity to Washington D.C., Montgomery County offers residents easy access to world-class museums, theater performances, concerts, and more.
Montgomery County has an unemployment rate of 5.7%. The US average is 6.0%.
Montgomery County 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 Montgomery County
- The Sales Tax Rate for Montgomery County is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Montgomery County 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 Montgomery County
- The average income of a Montgomery County resident is $48,916 a year. The US average is $28,555 a year.
- The Median household income of a Montgomery County resident is $117,345 a year. The US average is $69,021 a year.