Sykesville 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.
IndexSykesvilleMarylandNational
Cost of living index125120100
IndexSykesvilleMarylandNational
Goods & Services index104104100
Groceries index113113100
Health care index9092100
Housing index171154100
Transportation index104106100
Utilities index105103100
An overview of the general cost of living index for Sykesville, MD is displayed above for your reference. Residents in Sykesville, MD enjoy a cost of living index of 125. This index is 4% higher than the Maryland average, and 25% 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 Sykesville, 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 Sykesville is 4% higher than the Maryland average.
  • The cost of living in Sykesville is 25% higher than the national average.
  • The cost of housing in Sykesville is 71% 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 Sykesville, 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 Sykesville, MD, then you would need to earn more income in order to maintain the same standard of living. To use the Sykesville, 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$116,188$9,682$2,711$3,486
Renters$48,000$4,000$1,120$1,440
The affordability of the housing market in Sykesville, 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 Sykesville, MD homeowners, the median income is $116,188. This indicates that a monthly maximum of $2,711 should be spent by homeowners on all housing related costs. Renters have a median income of $48,000. This indicates that renters should have a maximum of $1,120 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 considering the overall cost of living expenses in Sykesville, MD, it's important to take into account the sales tax for Maryland, as well as the rate for income tax in Maryland. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Maryland is 6%, and the sales tax in the state of Maryland is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Maryland starts from 2% and goes up to 5.75%.

Goods & Services

ItemSykesvilleNational 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

ItemSykesvilleNational 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

ItemSykesvilleNational 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

ItemSykesvilleNational avg.Difference
Home Price $342,300.00$175,700.0094.8%
Avg. Mortgage Payment $1,577.31$1,133.2339.2%
Apartment Rent $1,053.00$920.0014.5%

Transportation

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

Utilities

ItemSykesvilleNational 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.
Union Bridge, MD8741044%
Lochearn, MD25,8881088%
Woodlawn, MD39,51811010%
Milford Mill, MD29,75811010%
Arbutus, MD21,40411111%
Sykesville, MD4,42612525%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ottawa, OH4,42693-7%
Buchanan, MI4,42683-17%
Malden, MO4,42575-25%
Tiptonville, TN4,42579-21%
Shelley, ID4,42885-15%
Sykesville, MD4,42612525%
Source: The Sykesville, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.