Maryland is a state located in the mid-Atlantic region of the United States. It is bordered by Washington, D.C., Virginia, West Virginia, and Delaware. The state has many attractions to offer its residents and visitors; some of the most popular attractions include the Inner Harbor of Baltimore, Ocean City's boardwalk, Antietam National Battlefield, Assateague Island National Seashore, Chesapeake Bay Maritime Museum, and Deep Creek Lake State Park. Additionally, Maryland is home to many well-known companies such as Under Armour, McCormick & Company Inc., Legg Mason, T.Rowe Price Group Inc., Black & Decker Corp., Discovery Communications Inc., Host Hotels & Resorts Inc., and Marriott International Inc. Rent for two bedroom apartments in Maryland is about 1$620 per month which is slightly higher than the national average of $1,430 per month. Grocery costs are also slightly higher than average in Maryland with a grocery cost index of 105 compared to 100 nationally.
Maryland has an unemployment rate of 6.0%. The US average is 6.0%.
Maryland 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 30.9%, which is lower than the US average of 33.5%.
Tax Rates for Maryland
- The Sales Tax Rate for Maryland is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Maryland is 4.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Maryland
- The average income of a Maryland resident is $36,670 a year. The US average is $28,555 a year.
- The Median household income of a Maryland resident is $91,431 a year. The US average is $69,021 a year.