Lonaconing, MD is a small town located in Allegany County. It has a population of 21539 people according to the 2019 census. The cost of living index (COLI) for Lonaconing is calculated by comparing the local housing costs, groceries, utilities and other expenses to that of the national average. In Lonaconing, two-bedroom rent costs $820 which is lower than the US 2 bedroom rent which is $1,430. Grocery Cost Index in Lonaconing is also lower than that of US which stands at 98 versus 100 respectively.
Lonaconing has all the necessary amenities for its residents with access to multiple local businesses such as Ruby’s Laundromat & Dry Cleaners, Laurita's Restaurant & Bar, Miller Tire Service Inc., John's TV & Appliances and S&S Auto Repair LLC. The cost of living index for Lonaconing stands at 82 which indicates it is 18% cheaper than most cities in America making it an ideal place for budget conscious individuals and families who wish to live in a peaceful environment without compromising on their lifestyle.
Lonaconing (zip 21539) has an unemployment rate of 6.9%. The US average is 6.0%.
Lonaconing (zip 21539) has seen the job market decrease by -7.1% over the last year. Future job growth over the next ten years is predicted to be 24.6%, which is lower than the US average of 33.5%.
Tax Rates for Lonaconing (zip 21539)
- The Sales Tax Rate for Lonaconing (zip 21539) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lonaconing (zip 21539) is 7.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lonaconing (zip 21539)
- The average income of a Lonaconing (zip 21539) resident is $27,498 a year. The US average is $37,638 a year.
- The Median household income of a Lonaconing (zip 21539) resident is $51,442 a year. The US average is $69,021 a year.