Chesapeake Beach 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.
IndexChesapeake BeachMarylandNational
Cost of living index133120100
IndexChesapeake BeachMarylandNational
Goods & Services index113104100
Groceries index106113100
Health care index10792100
Housing index188154100
Transportation index114106100
Utilities index102103100
The above illustration supplies generalized information for the Chesapeake Beach, MD cost of living index. Compared to other cities in Maryland and cities across the country, the cost of living index in Chesapeake Beach, MD is 133, which is 11% higher than the Maryland average and 33% 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 Chesapeake Beach, MD are 8% higher than the average for Maryland and 13% higher than the rest of the country.

Did you know?

  • The cost of living in Chesapeake Beach is 11% higher than the Maryland average.
  • The cost of living in Chesapeake Beach is 33% higher than the national average.
  • The cost of housing in Chesapeake Beach is 88% 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.

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Compare Chesapeake Beach, MD Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Chesapeake Beach, MD to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Chesapeake Beach, MD, then you would need to earn more income in order to maintain the same standard of living. To use the Chesapeake Beach, MD salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$117,021$9,752$2,730$3,511
Renters$47,103$3,925$1,099$1,413
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Chesapeake Beach, MD, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Chesapeake Beach, MD homeowners have a median income of $117,021. Using that number, you will come up with a maximum of $2,730 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $47,103, which means there is a maximum of $1,099 to be spent on the costs of renting a home or apartment.

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 Chesapeake Beach, 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

ItemChesapeake BeachNational avg.Difference
Haircut $21.06$15.5635.3%
Beauty Salon $68.19$36.1188.9%
Toothpaste $2.99$2.4720.9%
Shampoo $1.19$0.9623.0%
Movie $12.77$10.1326.1%
Bowling $5.45$4.7415.1%

Groceries

ItemChesapeake BeachNational avg.Difference
Ground Beef $3.75$3.985.9%
Fried Chicken $1.68$1.4119.4%
Milk $2.31$2.0612.1%
Potatoes $3.06$2.982.5%
Pizza $8.99$9.475.1%
Beer $9.89$8.7912.5%

Health Care

ItemChesapeake BeachNational avg.Difference
Optometrist $96.58$101.044.4%
Doctor $119.88$107.4411.6%
Dentist $99.36$90.429.9%
Ibuprofen $9.73$9.284.8%
Lipitor $426.15$426.500.1%

Housing

ItemChesapeake BeachNational avg.Difference
Home Price $331,200.00$175,700.0088.5%
Avg. Mortgage Payment $2,535.22$1,133.23123.7%
Apartment Rent $1,710.00$920.0085.9%

Transportation

ItemChesapeake BeachNational avg.Difference
Gasoline $2.19$1.999.8%
Tire Balancing $57.10$45.7624.8%

Utilities

ItemChesapeake BeachNational avg.Difference
All Electricity$141.21$163.8113.8%
Phone $34.95$28.3923.1%
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.
Cedarville, MD610100-0%
Upper Marlboro, MD64611515%
Eagle Harbor, MD4211515%
Tilghman Island, MD97111616%
Prince Frederick, MD3,21312121%
Chesapeake Beach, MD5,81613333%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ware, MA5,8161033%
East Falmouth, MA5,81813838%
Snyderville, UT5,81415050%
Minot AFB, ND5,81312121%
Sheridan, CO5,81998-2%
Chesapeake Beach, MD5,81613333%
Source: The Chesapeake Beach, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.