Howard County is an attractive destination for people looking to relocate due to its high quality of life. Located in central Maryland, Howard County has a population of about 307,000 people and offers plenty of recreational opportunities, retail shopping experiences, and dining experiences. It is also home to many large companies such as Johns Hopkins Applied Physics Laboratory, Merkle Inc., and Northrop Grumman Mission Systems.
The cost of living in Howard County is slightly higher than the US national average. The median rent for a two-bedroom apartment in the county stands at $1,550 which is slightly higher than the US median rent which stands at $1,430. The Grocery Cost Index (GCI) in Howard County is 108 versus 100 in the US which indicates that groceries are generally more expensive than the national average. In conclusion, despite the higher cost of living in Howard County, it still remains attractive due to its close proximity to major cities like Baltimore and Washington DC and its abundance of amenities.
Howard County has an unemployment rate of 4.5%. The US average is 6.0%.
Howard County 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 34.2%, which is higher than the US average of 33.5%.
Tax Rates for Howard County
- The Sales Tax Rate for Howard County is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Howard 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 Howard County
- The average income of a Howard County resident is $48,243 a year. The US average is $28,555 a year.
- The Median household income of a Howard County resident is $129,549 a year. The US average is $69,021 a year.