Savage, Maryland is a small community located in Howard County with a population of 20,763. It offers an ideal suburban lifestyle with easy access to the city and local amenities such as great restaurants, shopping malls, and entertainment venues. The two bedroom rental rate in Savage is $1,690, slightly higher than the US two bedroom rental rate of $1,430. Additionally, the Grocery Cost Index in Savage is 103 versus 100 in the US. There are many local companies such as Johns Hopkins Applied Physics Laboratory, Savage Mill Mall, Elkridge Furnace Inn Restaurant & Pub and more that contribute to the economy of this vibrant community.
Savage (zip 20763) has an unemployment rate of 4.5%. The US average is 6.0%.
Savage (zip 20763) has seen the job market decrease by -6.2% over the last year. Future job growth over the next ten years is predicted to be 34.2%, which is higher than the US average of 33.5%.
Tax Rates for Savage (zip 20763)
- The Sales Tax Rate for Savage (zip 20763) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Savage (zip 20763) is 8.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Savage (zip 20763)
- The average income of a Savage (zip 20763) resident is $48,612 a year. The US average is $37,638 a year.
- The Median household income of a Savage (zip 20763) resident is $114,702 a year. The US average is $69,021 a year.