Jessup 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.
IndexJessupMarylandNational
Cost of living index124120100
IndexJessupMarylandNational
Goods & Services index104104100
Groceries index113113100
Health care index9092100
Housing index168154100
Transportation index104106100
Utilities index105103100
An overview of the general cost of living index for Jessup, MD is displayed above for your reference. Residents in Jessup, MD enjoy a cost of living index of 124. This index is 3% higher than the Maryland average, and 24% 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 Jessup, MD, the average cost of goods and services is equal to it is in Maryland, and it is 4% higher than the national average.

Did you know?

  • The cost of living in Jessup is 3% higher than the Maryland average.
  • The cost of living in Jessup is 24% higher than the national average.
  • The cost of housing in Jessup is 68% 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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Groceries index
Health care index
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Transportation index
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The salary calculator allows you to compare how much your current salary in Jessup, MD would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Jessup, MD, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Jessup, MD salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$54,632$4,553$1,275$1,639
Renters$33,214$2,768$775$997
The affordability of the housing market in Jessup, 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 Jessup, MD homeowners, the median income is $54,632. This indicates that a monthly maximum of $1,275 should be spent by homeowners on all housing related costs. Renters have a median income of $33,214. This indicates that renters should have a maximum of $775 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%
When you are determining the total cost of living in Jessup, 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

ItemJessupNational 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

ItemJessupNational 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

ItemJessupNational 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

ItemJessupNational avg.Difference
Home Price $331,900.00$175,700.0088.9%
Avg. Mortgage Payment $1,577.31$1,133.2339.2%
Apartment Rent $1,089.00$920.0018.4%

Transportation

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

Utilities

ItemJessupNational 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.
Cottage City, MD1,0701088%
Dundalk, MD62,1861011%
Baltimore, MD622,2711011%
Lansdowne, MD8,7141033%
Baltimore Highlands, MD7,0781055%
Jessup, MD7,53512424%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Osceola, AR7,53578-22%
Sebastopol, CA7,53515454%
Seffner, FL7,53297-3%
Emerson, NJ7,53815050%
Middletown CDP, PA7,52911212%
Jessup, MD7,53512424%
Source: The Jessup, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.