Four Corners 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.
IndexFour CornersMarylandNational
Cost of living index140115100
IndexFour CornersMarylandNational
Goods & Services index9291100
Groceries index113112100
Health care index8688100
Housing index235154100
Transportation index108108100
Utilities index10199100
The above illustration supplies generalized information for the Four Corners, MD cost of living index. Compared to other cities in Maryland and cities across the country, the cost of living index in Four Corners, MD is 140, which is 21% higher than the Maryland average and 40% 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 Four Corners, MD are 1% higher than the average for Maryland and 8% lower than the rest of the country.

Did you know?

  • The cost of living in Four Corners is 21% higher than the Maryland average.
  • The cost of living in Four Corners is 40% higher than the national average.
  • The cost of housing in Four Corners is 135% 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 Four Corners

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Four Corners

Compare Four Corners, 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
The salary calculator is used in order to provide a comparison of your current salary in Four Corners, MD to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Four Corners, MD, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Four Corners, MD salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$131,222$10,935$3,062$3,937
Renters$54,679$4,557$1,276$1,641
If you want to find a good determining factor for the cost of living and the general affordability of housing in Four Corners, MD, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Four Corners, MD, the median monthly income is $131,222 for those who own their own homes. Under the standard rule, that income level would allow for $3,062 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $54,679, per the median income in the area. That would allow for renters to spend up to $1,276 on monthly rental expenses.

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 Four Corners, 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

ItemFour CornersNational avg.Difference
Haircut $15.75$14.597.9%
Beauty Salon $47.00$34.6835.5%
Toothpaste $2.18$2.4711.9%
Shampoo $0.99$1.023.1%
Movie $11.94$9.8721.0%
Bowling $5.30$4.3920.7%

Groceries

ItemFour CornersNational avg.Difference
Ground Beef $2.99$4.4833.2%
Fried Chicken $1.59$1.468.6%
Milk $2.65$2.3612.4%
Potatoes $3.69$3.0620.5%
Pizza $8.00$9.2413.4%
Beer $8.59$8.630.5%

Health Care

ItemFour CornersNational avg.Difference
Optometrist $71.67$99.7828.2%
Doctor $64.00$105.0339.1%
Dentist $81.75$88.707.8%
Ibuprofen $10.83$9.4115.1%
Lipitor $293.64$298.501.6%

Housing

ItemFour CornersNational avg.Difference
Home Price $429,100.00$175,700.00144.2%
Avg. Mortgage Payment $2,313.93$1,081.03114.0%
Apartment Rent $1,969.00$920.00114.0%

Transportation

ItemFour CornersNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $48.00$45.296.0%

Utilities

ItemFour CornersNational avg.Difference
All Electricity$178.68$170.804.6%
Phone $26.86$28.264.9%
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.
Cottage City, MD1,07099-1%
Capitol Heights, MD4,4521055%
Silver Hill, MD5,3351055%
Seat Pleasant, MD4,6561055%
Landover, MD23,1121055%
Four Corners, MD8,48614040%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Westgate, FL8,48690-10%
Bithlo, FL8,48698-2%
Audubon, PA8,48313535%
Monroe, NY8,49313434%
August, CA8,47995-5%
Four Corners, MD8,48614040%
Source: The Four Corners, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.