Overlea 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.
IndexOverleaMarylandNational
Cost of living index108120100
IndexOverleaMarylandNational
Goods & Services index104104100
Groceries index113113100
Health care index9092100
Housing index115154100
Transportation index104106100
Utilities index105103100
The above illustration supplies generalized information for the Overlea, MD cost of living index. Compared to other cities in Maryland and cities across the country, the cost of living index in Overlea, MD is 108, which is 10% lower than the Maryland average and 8% 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 Overlea, MD are equal to the average for Maryland and 4% higher than the rest of the country.

Did you know?

  • The cost of living in Overlea is 10% lower than the Maryland average.
  • The cost of living in Overlea is 8% higher than the national average.
  • The cost of housing in Overlea is 15% 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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Use the salary calculator to compare your current salary in Overlea, 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 Overlea, MD, then you would need to earn more income in order to maintain the same standard of living. To use the Overlea, 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$66,143$5,512$1,543$1,984
Renters$41,515$3,460$969$1,246
The affordability of the housing market in Overlea, 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 Overlea, MD homeowners, the median income is $66,143. This indicates that a monthly maximum of $1,543 should be spent by homeowners on all housing related costs. Renters have a median income of $41,515. This indicates that renters should have a maximum of $969 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 assessing the complete cost of living in Overlea, 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

ItemOverleaNational 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

ItemOverleaNational 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

ItemOverleaNational 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

ItemOverleaNational avg.Difference
Home Price $198,100.00$175,700.0012.7%
Avg. Mortgage Payment $1,577.31$1,133.2339.2%
Apartment Rent $1,107.00$920.0020.3%

Transportation

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

Utilities

ItemOverleaNational 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.
Bel Air, MD1,11999-1%
Dundalk, MD62,1861011%
Baltimore, MD622,2711011%
Middle River, MD26,6521033%
Lansdowne, MD8,7141033%
Overlea, MD12,1971088%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Elk City, OK12,19886-14%
Plover, WI12,19593-7%
Beatrice, NE12,18385-15%
Nanakuli, HI12,18114646%
Salem, OH12,21484-16%
Overlea, MD12,1971088%
Source: The Overlea, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.