The town of Takoma Park, Maryland is home to just under 18,000 residents. Families with young children are typical, as kids under 5 make up an above-average 8% of the community, while young adults account for a smaller percentage of the city. Overall, the city's residents, with an average age of just over 37, skew younger than most cities in Maryland. A narrow majority of residents own their homes (54%) as opposed to renting (46%) in Takoma Park. Renting remains an affordable option, though, as the city boasts a relatively low average rent of $1,204 per month. Over the course of a year, renters in Takoma Park will save around $1,700 compared to the state average.
There are plenty of industries from which to choose in Takoma Park. The five most common are healthcare, education, scientific, public administration, and entertainment. Combined, these industries make up 34% of the labor force in the city. Meanwhile, in terms of job function, 9% of the city's population works in management, making it the top field in the city. With an average annual income of around $106,000, Takoma Park workers earn about $14,000 more than their peers elsewhere in Maryland. Takoma Park's average income also compares favorably to the national average of $73,345. Takoma Park has a large number of residents over the age of 25 who have advanced degrees compared to the national average (7%), as 19% possess a Master's degree or a Doctoral degree. Furthermore, 16% have earned a Bachelor's degree.
Averaging about 41 minutes, Takoma Park's commute time is slower than the Maryland average of about 36 minutes. Driving a car or truck is the prevailing way to get to work, selected by 32% of workers, while public transit is used by only 16% of the population. Not many commuters (2%) walk to work, though the number surpasses the national average.
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