Elkridge 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.
IndexElkridgeMarylandNational
Cost of living index125120100
IndexElkridgeMarylandNational
Goods & Services index104104100
Groceries index113113100
Health care index9092100
Housing index170154100
Transportation index104106100
Utilities index105103100
Displayed above is a general overview of the Elkridge, MD cost of living index. The overall cost of living index in Elkridge, MD is 125, which is 4% higher than the Maryland average and 25% 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 Elkridge, MD are equal to the Maryland average and 4% higher than the national average.

Did you know?

  • The cost of living in Elkridge is 4% higher than the Maryland average.
  • The cost of living in Elkridge is 25% higher than the national average.
  • The cost of housing in Elkridge is 70% 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 Elkridge, MD Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Elkridge, 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 Elkridge, MD, you have to earn a higher income in order to still have the same standard of living. To operate the Elkridge, 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$110,389$9,199$2,576$3,312
Renters$53,725$4,477$1,253$1,612
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Elkridge, 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 Elkridge, MD homeowners have a median income of $110,389. Using that number, you will come up with a maximum of $2,576 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $53,725, which means there is a maximum of $1,253 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 assessing the complete cost of living in Elkridge, 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

ItemElkridgeNational avg.Difference
Haircut $19.22$15.5623.5%
Beauty Salon $55.47$36.1153.6%
Toothpaste $2.46$2.470.6%
Shampoo $1.00$0.964.0%
Movie $11.17$10.1310.3%
Bowling $5.30$4.7411.9%

Groceries

ItemElkridgeNational avg.Difference
Ground Beef $4.46$3.9811.9%
Fried Chicken $1.78$1.4126.7%
Milk $2.52$2.0622.1%
Potatoes $3.77$2.9826.4%
Pizza $9.91$9.474.6%
Beer $9.57$8.798.9%

Health Care

ItemElkridgeNational avg.Difference
Optometrist $70.89$101.0429.8%
Doctor $85.25$107.4420.7%
Dentist $79.83$90.4211.7%
Ibuprofen $9.99$9.287.7%
Lipitor $435.17$426.502.0%

Housing

ItemElkridgeNational avg.Difference
Home Price $300,300.00$175,700.0070.9%
Avg. Mortgage Payment $1,577.31$1,133.2339.2%
Apartment Rent $1,552.00$920.0068.7%

Transportation

ItemElkridgeNational avg.Difference
Gasoline $2.05$1.992.9%
Tire Balancing $48.35$45.765.7%

Utilities

ItemElkridgeNational avg.Difference
All Electricity$177.91$163.818.6%
Phone $28.67$28.391.0%
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.
Dundalk, MD62,1861011%
Baltimore, MD622,2711011%
Lansdowne, MD8,7141033%
Baltimore Highlands, MD7,0781055%
Parkville, MD31,6061077%
Elkridge, MD16,75012525%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Helena, AL16,752100-0%
Country Club Hills, IL16,75298-2%
Mill Creek East, WA16,75413232%
Griffith, IN16,7651011%
St. Michael, MN16,76711111%
Elkridge, MD16,75012525%
Source: The Elkridge, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.