Bel Air South cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBel Air SouthMarylandNational
Cost of living index113115100
IndexBel Air SouthMarylandNational
Goods & Services index9191100
Groceries index111112100
Health care index9088100
Housing index148154100
Transportation index109108100
Utilities index9799100
The above illustration supplies generalized information for the Bel Air South, MD cost of living index. Compared to other cities in Maryland and cities across the country, the cost of living index in Bel Air South, MD is 113, which is 2% lower than the Maryland average and 13% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Bel Air South, MD are 1% lower than the average for Maryland and 9% lower than the rest of the country.

Did you know?

  • The cost of living in Bel Air South is 2% lower than the Maryland average.
  • The cost of living in Bel Air South is 13% higher than the national average.
  • The cost of housing in Bel Air South is 48% higher than the national average.
  • Maryland general sales tax is 18% higher than the national average.
  • Maryland state income tax is 10% lower than the national average.

Find Real Estate Listings In Bel Air South

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Bel Air South

Compare Bel Air South, MD Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Using the salary calculator lets you compare the salary you earn in Bel Air South, MD to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Bel Air South, MD, you have to earn a higher income in order to still have the same standard of living. To operate the Bel Air South, MD salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$98,547$8,212$2,299$2,957
Renters$52,656$4,388$1,229$1,580
The affordability of the housing market in Bel Air South, MD as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Bel Air South, MD homeowners, the median income is $98,547. This indicates that a monthly maximum of $2,299 should be spent by homeowners on all housing related costs. Renters have a median income of $52,656. This indicates that renters should have a maximum of $1,229 used for their rent related monthly costs.

Maryland Sales Tax

StateGeneral Sales TaxWith Max Surtax
Maryland6%6%

Maryland Income Tax

StateIncome Tax (Low)Income Tax (High)
Maryland2%5.75%
When considering the overall cost of living expenses in Bel Air South, MD, it's important to take into account the sales tax for Maryland, as well as the rate for income tax in Maryland. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Maryland is 6%, and the sales tax in the state of Maryland is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Maryland starts from 2% and goes up to 5.75%.

Goods & Services

ItemBel Air SouthNational avg.Difference
Haircut $15.75$14.597.9%
Beauty Salon $43.00$34.6824.0%
Toothpaste $2.13$2.4713.9%
Shampoo $0.99$1.023.1%
Movie $10.81$9.879.5%
Bowling $5.30$4.3920.7%

Groceries

ItemBel Air SouthNational avg.Difference
Ground Beef $3.49$4.4822.0%
Fried Chicken $1.57$1.467.2%
Milk $2.59$2.369.9%
Potatoes $3.89$3.0627.1%
Pizza $8.00$9.2413.4%
Beer $8.49$8.631.7%

Health Care

ItemBel Air SouthNational avg.Difference
Optometrist $67.49$99.7832.4%
Doctor $80.00$105.0323.8%
Dentist $81.75$88.707.8%
Ibuprofen $10.58$9.4112.4%
Lipitor $293.64$298.501.6%

Housing

ItemBel Air SouthNational avg.Difference
Home Price $273,600.00$175,700.0055.7%
Avg. Mortgage Payment $1,575.45$1,081.0345.7%
Apartment Rent $1,185.00$920.0028.8%

Transportation

ItemBel Air SouthNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $48.80$45.297.8%

Utilities

ItemBel Air SouthNational avg.Difference
All Electricity$159.30$170.806.7%
Phone $28.67$28.261.5%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Bel Air, MD1,11994-6%
Middle River, MD26,65298-2%
Essex, MD37,38099-1%
Edgewood, MD26,47999-1%
Port Deposit, MD6391066%
Bel Air South, MD46,61411313%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hattiesburg, MS46,62983-17%
Ceres, CA46,5701044%
North Bethesda, MD46,73815050%
Potomac, MD46,47519494%
St. Louis Park, MN46,46611010%
Bel Air South, MD46,61411313%
Source: The Bel Air South, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.