Golden 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.
IndexGolden BeachMarylandNational
Cost of living index128115100
IndexGolden BeachMarylandNational
Goods & Services index9891100
Groceries index112112100
Health care index9488100
Housing index184154100
Transportation index121108100
Utilities index9899100
A general overview of the cost of living index for Golden Beach, MD is displayed above. In Golden Beach, MD, the overall cost of living index is 128, which is 11% higher than the Maryland average and 28% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Golden Beach, MD, the city's goods and services are 7% higher than the Maryland average and 2% lower than the U.S. average.

Did you know?

  • The cost of living in Golden Beach is 11% higher than the Maryland average.
  • The cost of living in Golden Beach is 28% higher than the national average.
  • The cost of housing in Golden Beach is 84% 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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Salary Calculator

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Health care index
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Use the salary calculator to compare your current income in Golden Beach, MD to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Golden Beach, MD, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Golden Beach, MD salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Golden Beach, MD, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Golden Beach, MD has a median income of about $92,473 for people who own homes. Based on that number, a person should spend a maximum of $2,158 on expenses related to housing. Renters have a slightly different median income, which is $80,966. Based on this average, renters should spend no more than $1,889 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Maryland Sales Tax

StateGeneral Sales TaxWith Max Surtax

Maryland Income Tax

StateIncome Tax (Low)Income Tax (High)
One thing to keep in mind when considering the cost of living in Golden Beach, MD is the Maryland sales tax and Maryland income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Maryland sales tax rate is 6% and the maximum surtax that can be charged is 6%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Maryland income tax rates range from 2% to 5.75%.

Goods & Services

ItemGolden BeachNational avg.Difference
Haircut $17.50$14.5919.9%
Beauty Salon $53.25$34.6853.5%
Toothpaste $2.24$2.479.4%
Shampoo $1.02$1.020.2%
Movie $12.71$9.8728.8%
Bowling $5.38$4.3922.5%


ItemGolden BeachNational avg.Difference
Ground Beef $3.49$4.4822.0%
Fried Chicken $1.66$1.4613.4%
Milk $2.68$2.3613.7%
Potatoes $3.69$3.0620.5%
Pizza $8.00$9.2413.4%
Beer $9.29$8.637.6%

Health Care

ItemGolden BeachNational avg.Difference
Optometrist $73.50$99.7826.3%
Doctor $87.20$105.0317.0%
Dentist $86.40$88.702.6%
Ibuprofen $11.38$9.4120.9%
Lipitor $293.64$298.501.6%


ItemGolden BeachNational avg.Difference
Home Price $319,600.00$175,700.0081.9%
Avg. Mortgage Payment $2,743.63$1,081.03153.8%
Apartment Rent $1,745.00$920.0089.7%


ItemGolden BeachNational avg.Difference
Gasoline $2.59$2.0923.8%
Tire Balancing $52.00$45.2914.8%


ItemGolden BeachNational avg.Difference
All Electricity$167.80$170.801.8%
Phone $27.32$28.263.3%
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, MD61095-5%
Rock Point, MD991066%
Eagle Harbor, MD4211111%
Lusby, MD1,50411414%
Prince Frederick, MD3,21311616%
Golden Beach, MD3,82012828%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
West DeLand, FL3,82092-8%
Crittenden, KY3,81987-13%
Owego, NY3,81990-10%
West End-Cobb Town, AL3,82177-23%
Mount Orab, OH3,81985-15%
Golden Beach, MD3,82012828%
Source: The Golden Beach, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.