Pikesville 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.
IndexPikesvilleMarylandNational
Cost of living index122120100
IndexPikesvilleMarylandNational
Goods & Services index104104100
Groceries index113113100
Health care index9092100
Housing index162154100
Transportation index104106100
Utilities index105103100
Displayed above is a general overview of the Pikesville, MD cost of living index. The overall cost of living index in Pikesville, MD is 122, which is 2% higher than the Maryland average and 22% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Pikesville, MD are equal to the Maryland average and 4% higher than the national average.

Did you know?

  • The cost of living in Pikesville is 2% higher than the Maryland average.
  • The cost of living in Pikesville is 22% higher than the national average.
  • The cost of housing in Pikesville is 62% 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 Pikesville, 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
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Health care index
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The salary calculator allows you to compare how much your current salary in Pikesville, 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 Pikesville, MD, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Pikesville, 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$97,477$8,123$2,274$2,925
Renters$46,366$3,864$1,082$1,391
The affordability of the housing market in Pikesville, 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 Pikesville, MD homeowners, the median income is $97,477. This indicates that a monthly maximum of $2,274 should be spent by homeowners on all housing related costs. Renters have a median income of $46,366. This indicates that renters should have a maximum of $1,082 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 Pikesville, 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

ItemPikesvilleNational 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

ItemPikesvilleNational 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

ItemPikesvilleNational 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

ItemPikesvilleNational avg.Difference
Home Price $306,500.00$175,700.0074.4%
Avg. Mortgage Payment $1,577.31$1,133.2339.2%
Apartment Rent $1,211.00$920.0031.6%

Transportation

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

Utilities

ItemPikesvilleNational 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.
Dundalk, MD62,1861011%
Baltimore, MD622,2711011%
Middle River, MD26,6521033%
Lansdowne, MD8,7141033%
Essex, MD37,3801044%
Pikesville, MD32,12512222%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Fairbanks, AK32,10013131%
Four Corners, FL32,15494-6%
Tooele, UT32,16494-6%
Fort Hood, TX32,17779-21%
Lewiston, ID32,17897-3%
Pikesville, MD32,12512222%
Source: The Pikesville, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.