Cambridge, MD Metro Area is an excellent place to call home; it has plenty of local amenities, a variety of job opportunities, and affordable rent. 2 bedroom apartments can be rented for $990 compared to the national average of $1,430. In addition, the Grocery Cost Index in Cambridge is 99 versus 100 in the US which further contributes to its affordability. The area also boasts many well-known employers like Perdue Farms Inc., Discovery Communications LLC, RDA Holding Co. Inc., and James W Hancock Ltd., giving Cambridge residents plenty of employment opportunities. When looking for an area with great job prospects and affordable cost of living, Cambridge should be a top consideration!
Cambridge Metro Area has an unemployment rate of 6.3%. The US average is 6.0%.
Cambridge Metro Area has seen the job market decrease by -3.3% 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 Metro Area
- The Sales Tax Rate for Cambridge Metro Area is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Cambridge Metro Area 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 Metro Area
- The average income of a Cambridge Metro Area resident is $31,983 a year. The US average is $37,638 a year.
- The Median household income of a Cambridge Metro Area resident is $55,652 a year. The US average is $69,021 a year.