Cost of living in Rockville MD
Cost of living in Rockville MD.
Today we dive into the cost of living in Rockville, MD. Rockville is the county seat in Montgomery County, about 20 miles from the border of NW Washington DC and offers a wide range of neighborhoods for the 67,000 residents to chose from.
Check out one of niche.com's best places to live in Maryland! Including details on transportation, working, shopping and what the real estate market looks like. This video is worth a watch!
One of the main attractions to Rockville is the location and access you have to the surrounding area. I-270 and MD 355 run right through Rockville. These roads will take you from the Capital Beltway out to Frederick. You also have MD 28 (Darnestown Rd) which runs more East-West through Rockville.
There are also a variety of public transit options as well. The red line of the Metro system has multiple stops in Rockville, The MARC train, AMTRAk, Ride on and MTA Bus services.
Working in Rockville has it’s perks too. Median household income is $106,000 which is 41% higher than the national average of $62,000. Median Income for an individual in Rockville is $53,000 while the national average for an individual is $31,000 per year. Large employers in Rockville are Montgomery County Public Schools, U.S. Nuclear Regulatory Commission and the County Government.
If you are looking for shopping in Rockville you will find it all over the place. There is plenty of selection along the 355 corridor with some local favorites being
Pike & Rose: Retails shopping and dining.
Rockville Town Square: Dawson’s Market, CVS, First Watch, Library, Splash pad & Ice Rink.
Montrose Crossing: Giant, Home Depot, Marshalls, Bank of America & Target
Fallsgrove Village Centre: Capital One Bank, FedEx, Safeway.
Real Estate in Rockville ain’t cheap! Median home value is $540,000. Median rents are $1,900 per month. 55% of residents own their homes. For more info on Rockville Real Estate, Check This Out!
The average county tax rates for Montgomery County is .94%. Using that median home value of $540,000 the annual average would be about $5,000 a year. Check with your local assessors office before you buy for actual tax rates.
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