Edgemere 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.
IndexEdgemereMarylandNational
Cost of living index106115100
IndexEdgemereMarylandNational
Goods & Services index9191100
Groceries index111112100
Health care index9088100
Housing index126154100
Transportation index109108100
Utilities index9799100
An overview of the general cost of living index for Edgemere, MD is displayed above for your reference. Residents in Edgemere, MD enjoy a cost of living index of 106. This index is 8% lower than the Maryland average, and 6% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Edgemere, MD, the average cost of goods and services is 1% lower than it is in Maryland, and it is 9% lower than the national average.

Did you know?

  • The cost of living in Edgemere is 8% lower than the Maryland average.
  • The cost of living in Edgemere is 6% higher than the national average.
  • The cost of housing in Edgemere is 26% 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 Edgemere

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Edgemere

Compare Edgemere, 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 Edgemere, 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 Edgemere, MD, you have to earn a higher income in order to still have the same standard of living. To operate the Edgemere, 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$59,518$4,960$1,389$1,786
Renters$36,667$3,056$856$1,100
The affordability of the housing market in Edgemere, 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 Edgemere, MD homeowners, the median income is $59,518. This indicates that a monthly maximum of $1,389 should be spent by homeowners on all housing related costs. Renters have a median income of $36,667. This indicates that renters should have a maximum of $856 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%
For those who live in Edgemere, MD and want to know what the true cost of living is, they ought to look at both the Maryland income tax rate and the Maryland sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Maryland, the sales tax is 6%, while the most you'll pay in surtax is 6%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Maryland, the income tax rate ranges between 2% to 5.75%.

Goods & Services

ItemEdgemereNational 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

ItemEdgemereNational 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

ItemEdgemereNational 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

ItemEdgemereNational avg.Difference
Home Price $236,300.00$175,700.0034.5%
Avg. Mortgage Payment $1,575.45$1,081.0345.7%
Apartment Rent $965.00$920.004.9%

Transportation

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

Utilities

ItemEdgemereNational 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.
Edesville, MD14595-5%
Dundalk, MD62,18696-4%
Baltimore, MD622,27196-4%
Middle River, MD26,65298-2%
Lansdowne, MD8,71498-2%
Edgemere, MD8,2951066%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Wynne, AR8,29682-18%
Little Falls, MN8,29191-9%
New Albany, MS8,29183-17%
Pleasant Hills, PA8,29198-2%
Aransas Pass, TX8,28785-15%
Edgemere, MD8,2951066%
Source: The Edgemere, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.