Ocean Pines 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.
IndexOcean PinesMarylandNational
Cost of living index121115100
IndexOcean PinesMarylandNational
Goods & Services index10791100
Groceries index107112100
Health care index10288100
Housing index154154100
Transportation index101108100
Utilities index11499100
Here we can see a simple outline of the cost of living in Ocean Pines, MD. As you can see, with the average cost of living in Ocean Pines, MD being 121, that puts it 5% higher than the average of Maryland and 21% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Ocean Pines, MD, the price of goods and services are 18% higher than the average of Maryland as well as 7% higher than the nation's average.

Did you know?

  • The cost of living in Ocean Pines is 5% higher than the Maryland average.
  • The cost of living in Ocean Pines is 21% higher than the national average.
  • The cost of housing in Ocean Pines is 54% 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 Ocean Pines, MD Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Ocean Pines, 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 Ocean Pines, MD, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Ocean Pines, 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$74,545$6,212$1,739$2,237
Renters$46,607$3,884$1,087$1,398
If you want to find a good determining factor for the cost of living and the general affordability of housing in Ocean Pines, 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 Ocean Pines, MD, the median monthly income is $74,545 for those who own their own homes. Under the standard rule, that income level would allow for $1,739 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $46,607, per the median income in the area. That would allow for renters to spend up to $1,087 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%
When assessing the complete cost of living in Ocean Pines, 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

ItemOcean PinesNational avg.Difference
Haircut $13.00$14.5910.9%
Beauty Salon $37.50$34.688.1%
Toothpaste $2.98$2.4720.5%
Shampoo $1.03$1.020.8%
Movie $10.50$9.876.4%
Bowling $3.99$4.399.1%

Groceries

ItemOcean PinesNational avg.Difference
Ground Beef $4.59$4.482.5%
Fried Chicken $1.72$1.4617.5%
Milk $1.95$2.3617.3%
Potatoes $3.99$3.0630.3%
Pizza $8.49$9.248.1%
Beer $8.74$8.631.2%

Health Care

ItemOcean PinesNational avg.Difference
Optometrist $135.00$99.7835.3%
Doctor $87.50$105.0316.7%
Dentist $92.50$88.704.3%
Ibuprofen $10.46$9.4111.1%
Lipitor $320.25$298.507.3%

Housing

ItemOcean PinesNational avg.Difference
Home Price $270,400.00$175,700.0053.9%
Avg. Mortgage Payment $825.43$1,081.0323.6%
Apartment Rent $1,411.00$920.0053.4%

Transportation

ItemOcean PinesNational avg.Difference
Gasoline $2.09$2.090.1%
Tire Balancing $47.50$45.294.9%

Utilities

ItemOcean PinesNational avg.Difference
All Electricity$204.71$170.8019.9%
Phone $29.95$28.266.0%
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.
Powellville, MD7589-11%
Snow Hill, MD2,72097-3%
Pittsville, MD1,5401000%
Willards, MD1,0581011%
Newark, MD3151044%
Ocean Pines, MD10,72712121%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Franklin Lakes, NJ10,726206106%
Roscoe, IL10,72497-3%
Miami Shores, FL10,73613333%
Jacinto City, TX10,71783-17%
Keokuk, IA10,74278-22%
Ocean Pines, MD10,72712121%
Source: The Ocean Pines, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.