F
22%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
66%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Catonsville Maryland National
Cost of living122119100
Goods & Services103106100
Groceries105106100
Health care9897100
Housing166150100
Transportation10198100
Utilities111111100

An Overview of Cost of Living in Catonsville, MD

Understanding the cost of living in Catonsville can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Catonsville cost of living index is 122, which is 22% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If you value affordability in your search for a new place to live, Catonsville may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Catonsville falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs are a very significant part of the Catonsville cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 65.5% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Catonsville Affordable?

Is Catonsville affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Catonsville, the median home price is 72.1% higher than the national average and monthly rent prices are 50.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Catonsville boasting a median household income of $91,539, 65.5% higher than the national average.

What Factors can Influence the Cost of Living in Catonsville?

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Catonsville comes in at 11.1% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Catonsville, the groceries index registers 4.5% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Catonsville, healthcare costs are 2.5% lower than the national average.

Where is the Data From?

The Catonsville cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Catonsville is 3% higher than the Maryland average
  • The cost of living in Catonsville is 22% higher than the national average
  • Catonsville housing is 66% higher than the national average
  • Maryland general sales tax is 18% higher than the national average
  • Maryland state income tax is 11% lower than the national average

Most Affordable Places to Live in and Around Catonsville

See all the best places to live around Catonsville

Compare Catonsville, MD Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$107,309$8,942$2,504$3,220
      Renters$49,539$4,128$1,156$1,486
      A good way to judge both the affordability of the housing and the cost of living in Catonsville is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Catonsville has a median income of about $107,309 for people who own homes. Based on that number, a maximum of $2,504 should be spent on expenses related to housing. Renters have a slightly different median income, which is $49,539. Based on this average, renters should spend no more than $1,156 on all rental costs if they want to maintain a non-impoverished standard of living.

      Maryland Sales Tax

      State General Sales Tax With Max Surtax
      Maryland 6% 6%

      Maryland Income Tax

      State Income Tax (Low) Income Tax (High)
      Maryland 2% 5.75%

      Goods & Services

      Item Catonsville National avg. Difference
      Haircut $28.33$24.2616.8%
      Beauty Salon $58.17$45.5627.7%
      Toothpaste $3.69$3.700.3%
      Shampoo $1.44$1.2812.7%
      Movie $13.69$12.1312.9%
      Bowling $23.03$18.0027.9%

      Groceries

      Item Catonsville National avg. Difference
      Ground Beef $6.23$5.846.7%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.73$4.671.2%
      Potatoes $5.46$4.9310.7%
      Pizza $13.24$12.099.5%
      Beer $10.36$10.410.5%

      Health Care

      Item Catonsville National avg. Difference
      Optometrist $114.22$125.689.1%
      Doctor $133.22$135.781.9%
      Dentist $117.22$113.293.5%
      Ibuprofen $11.10$10.654.2%
      Lipitor $401.39$468.6014.3%

      Housing

      Item Catonsville National avg. Difference
      Home Price $317,900.00$184,700.0072.1%
      Avg. Mortgage Payment $1,906.29$2,346.6918.8%
      Apartment Rent $1,425.00$949.0050.2%

      Transportation

      Item Catonsville National avg. Difference
      Gasoline $3.46$3.460.1%
      Tire Balancing $62.66$59.924.6%

      Utilities

      Item Catonsville National avg. Difference
      All Electricity $223.91$193.9915.4%
      Phone $199.62$192.253.8%
      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 Population Cost of Living Index National Avg.
      Dundalk, MD63,8261021.7%
      Baltimore, MD602,2741022.1%
      Lansdowne, MD8,6351022.4%
      Baltimore Highlands, MD7,8801077.1%
      Woodlawn CDP (Prince George's County), MD7,8731077.4%
      Catonsville, MD41,59212222.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Leominster, MA41,58112120.8%
      Woonsocket, RI41,6161076.6%
      Rancho Palos Verdes, CA41,635245145.3%
      Charlottetown, PE41,537n/a 
      Mableton, GA41,6471043.7%
      Catonsville, MD41,59212222.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.