Carney 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.
IndexCarneyMarylandNational
Cost of living index109115100
IndexCarneyMarylandNational
Goods & Services index9191100
Groceries index111112100
Health care index9088100
Housing index134154100
Transportation index109108100
Utilities index9799100
Displayed above is a general overview of the Carney, MD cost of living index. The overall cost of living index in Carney, MD is 109, which is 6% lower than the Maryland average and 9% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Carney, MD are 1% lower than the Maryland average and 9% lower than the national average.

Did you know?

  • The cost of living in Carney is 6% lower than the Maryland average.
  • The cost of living in Carney is 9% higher than the national average.
  • The cost of housing in Carney is 34% 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 Carney

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Carney

Compare Carney, 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
Use the salary calculator to compare your current income in Carney, MD to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Carney, MD, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Carney, MD salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$80,141$6,678$1,870$2,404
Renters$43,953$3,663$1,026$1,319
One can approximate the cost of living and the housing affordability in Carney, MD by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Carney, MD have a median income of $80,141. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,870 per month to avoid calamity and poverty. The renters in the city have an income of about $43,953, which would make their monthly maximum allowable rental costs $1,026.

Maryland Sales Tax

StateGeneral Sales TaxWith Max Surtax
Maryland6%6%

Maryland Income Tax

StateIncome Tax (Low)Income Tax (High)
Maryland2%5.75%
When assessing the complete cost of living in Carney, MD, the Maryland income tax and the Maryland sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Maryland maximum surtax is 6%, and the Maryland sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 2% to 5.75% in Maryland.

Goods & Services

ItemCarneyNational 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

ItemCarneyNational 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

ItemCarneyNational 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

ItemCarneyNational avg.Difference
Home Price $234,900.00$175,700.0033.7%
Avg. Mortgage Payment $1,575.45$1,081.0345.7%
Apartment Rent $1,253.00$920.0036.2%

Transportation

ItemCarneyNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $48.80$45.297.8%

Utilities

ItemCarneyNational 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%
Dundalk, MD62,18696-4%
Baltimore, MD622,27196-4%
Middle River, MD26,65298-2%
Lansdowne, MD8,71498-2%
Carney, MD28,1941099%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Magna, UT28,18296-4%
Mililani Town, HI28,21718686%
Crofton, MD28,14013333%
Crown Point, IN28,25999-1%
Wheeling, WV28,12989-11%
Carney, MD28,1941099%
Source: The Carney, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.