Elkton 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.
IndexElktonMarylandNational
Cost of living index108115100
IndexElktonMarylandNational
Goods & Services index10891100
Groceries index103112100
Health care index10388100
Housing index113154100
Transportation index96108100
Utilities index11499100
An overview of the general cost of living index for Elkton, MD is displayed above for your reference. Residents in Elkton, MD enjoy a cost of living index of 108. This index is 6% lower than the Maryland average, and 8% 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 Elkton, MD, the average cost of goods and services is 19% higher than it is in Maryland, and it is 8% higher than the national average.

Did you know?

  • The cost of living in Elkton is 6% lower than the Maryland average.
  • The cost of living in Elkton is 8% higher than the national average.
  • The cost of housing in Elkton is 13% 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 Elkton, MD Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Elkton, 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 Elkton, MD, then you would need to earn more income in order to maintain the same standard of living. To use the Elkton, 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$82,848$6,904$1,933$2,486
Renters$34,198$2,850$798$1,026
One can approximate the cost of living and the housing affordability in Elkton, 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 Elkton, MD have a median income of $82,848. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,933 per month to avoid calamity and poverty. The renters in the city have an income of about $34,198, which would make their monthly maximum allowable rental costs $798.

Maryland Sales Tax

StateGeneral Sales TaxWith Max Surtax
Maryland6%6%

Maryland Income Tax

StateIncome Tax (Low)Income Tax (High)
Maryland2%5.75%
When you are determining the total cost of living in Elkton, MD you will want to make sure you consider both the Maryland sales tax and the Maryland income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Maryland is 6%, with the highest surtax being 6%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Maryland have a range from 2% to 5.75%.

Goods & Services

ItemElktonNational avg.Difference
Haircut $14.00$14.594.1%
Beauty Salon $40.00$34.6815.3%
Toothpaste $2.22$2.4710.2%
Shampoo $0.91$1.0211.0%
Movie $11.50$9.8716.5%
Bowling $4.50$4.392.5%

Groceries

ItemElktonNational avg.Difference
Ground Beef $4.42$4.481.3%
Fried Chicken $1.56$1.466.6%
Milk $2.14$2.369.2%
Potatoes $3.66$3.0619.6%
Pizza $8.49$9.248.1%
Beer $8.49$8.631.7%

Health Care

ItemElktonNational avg.Difference
Optometrist $118.00$99.7818.3%
Doctor $87.50$105.0316.7%
Dentist $97.50$88.709.9%
Ibuprofen $9.42$9.410.1%
Lipitor $328.49$298.5010.0%

Housing

ItemElktonNational avg.Difference
Home Price $203,400.00$175,700.0015.8%
Avg. Mortgage Payment $1,153.85$1,081.036.7%
Apartment Rent $990.00$920.007.6%

Transportation

ItemElktonNational avg.Difference
Gasoline $1.99$2.095.0%
Tire Balancing $45.00$45.290.6%

Utilities

ItemElktonNational avg.Difference
All Electricity$222.61$170.8030.3%
Phone $25.95$28.268.2%
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.
Lincoln University, PA1,7711066%
Elsmere, DE6,1491044%
Cecilton, MD6751066%
Newport, DE1,0641055%
North East, MD3,6961055%
Elkton, MD15,6731088%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Sulphur Springs, TX15,67382-18%
La Grange, IL15,67513636%
Sarasota Springs, FL15,6591011%
Lebanon, IN15,68887-13%
Happy Valley, OR15,69313838%
Elkton, MD15,6731088%
Source: The Elkton, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.