Severn 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.
IndexSevernMarylandNational
Cost of living index121115100
IndexSevernMarylandNational
Goods & Services index9191100
Groceries index111112100
Health care index9088100
Housing index174154100
Transportation index109108100
Utilities index9799100
Displayed above is a general overview of the Severn, MD cost of living index. The overall cost of living index in Severn, MD is 121, which is 5% higher than the Maryland average and 21% 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 Severn, MD are 1% lower than the Maryland average and 9% lower than the national average.

Did you know?

  • The cost of living in Severn is 5% higher than the Maryland average.
  • The cost of living in Severn is 21% higher than the national average.
  • The cost of housing in Severn is 74% 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

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 is meant to help you compare your salary in Severn, MD to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Severn, MD, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Severn, MD salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$102,737$8,561$2,397$3,082
Renters$58,561$4,880$1,366$1,757
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 Severn, 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. Severn, MD has a median income of about $102,737 for people who own homes. Based on that number, a person should spend a maximum of $2,397 on expenses related to housing. Renters have a slightly different median income, which is $58,561. Based on this average, renters should spend no more than $1,366 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
Maryland6%6%

Maryland Income Tax

StateIncome Tax (Low)Income Tax (High)
Maryland2%5.75%
When assessing the complete cost of living in Severn, 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

ItemSevernNational avg.Difference
Haircut $15.75$14.597.9%
Beauty Salon $43.00$34.6824.0%
Toothpaste $2.13$2.4713.9%
Shampoo $0.99$1.023.1%
Movie $10.81$9.879.5%
Bowling $5.30$4.3920.7%

Groceries

ItemSevernNational avg.Difference
Ground Beef $3.49$4.4822.0%
Fried Chicken $1.57$1.467.2%
Milk $2.59$2.369.9%
Potatoes $3.89$3.0627.1%
Pizza $8.00$9.2413.4%
Beer $8.49$8.631.7%

Health Care

ItemSevernNational avg.Difference
Optometrist $67.49$99.7832.4%
Doctor $80.00$105.0323.8%
Dentist $81.75$88.707.8%
Ibuprofen $10.58$9.4112.4%
Lipitor $293.64$298.501.6%

Housing

ItemSevernNational avg.Difference
Home Price $320,000.00$175,700.0082.1%
Avg. Mortgage Payment $1,575.45$1,081.0345.7%
Apartment Rent $1,438.00$920.0056.3%

Transportation

ItemSevernNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $48.80$45.297.8%

Utilities

ItemSevernNational avg.Difference
All Electricity$159.30$170.806.7%
Phone $28.67$28.261.5%
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, MD1,07099-1%
Dundalk, MD62,18696-4%
Baltimore, MD622,27196-4%
Middle River, MD26,65298-2%
Lansdowne, MD8,71498-2%
Severn, MD45,39612121%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Glenview, IL45,40014747%
Maricopa, AZ45,38894-6%
Farmington, NM45,3831011%
Sierra Vista, AZ45,36599-1%
Twin Falls, ID45,36290-10%
Severn, MD45,39612121%
Source: The Severn, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.