Washington, DC is a popular city with many well-known local companies. In 2016, the average rent for a two bedroom apartment was $2,050 per month. This is significantly higher than the US average of $1,430. Additionally, the Grocery Cost Index in Washington, DC in 2016 was 120 versus 100 in the US. Popular local companies in Washington, DC include Amazon Web Services Federal Government Solutions and The Washington Post. The cost of living here is higher than most other cities due to its robust economy and high-end lifestyle offerings. For example, eating out at a restaurant could easily cost $50 or more for two people which would not be considered expensive by locals but may be considered high by visitors from outside of the area.
Washington (zip 20016) has an unemployment rate of 7.0%. The US average is 6.0%.
Washington (zip 20016) has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 33.7%, which is higher than the US average of 33.5%.
Tax Rates for Washington (zip 20016)
- The Sales Tax Rate for Washington (zip 20016) is 5.8%. The US average is 7.3%.
- The Income Tax Rate for Washington (zip 20016) is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Washington (zip 20016)
- The average income of a Washington (zip 20016) resident is $78,838 a year. The US average is $28,555 a year.
- The Median household income of a Washington (zip 20016) resident is $156,783 a year. The US average is $69,021 a year.