Cost Of Living In Urbana, MD

Urbana 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.
Index	Urbana	Maryland	National
Cost of living index	144	120	100
Index	Urbana	Maryland	National
Goods & Services index	104	104	100
Groceries index	113	113	100
Health care index	95	92	100
Housing index	233	154	100
Transportation index	109	106	100
Utilities index	100	103	100

Here we can see a simple outline of the cost of living in Urbana, MD. As you can see, with the average cost of living in Urbana, MD being 144, that puts it 20% higher than the average of Maryland and 44% 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 Urbana, MD, the price of goods and services are equal to the average of Maryland as well as 4% higher than the nation's average.

Did you know?

The cost of living in Urbana is 20% higher than the Maryland average.
The cost of living in Urbana is 44% higher than the national average.
The cost of housing in Urbana is 133% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator is used in order to provide a comparison of your current salary in Urbana, MD to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Urbana, MD, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Urbana, MD salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$139,079	$11,590	$3,245	$4,173
Renters	$95,104	$7,925	$2,219	$2,853

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Urbana, MD, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Urbana, MD homeowners have a median income of $139,079. Using that number, you will come up with a maximum of $3,245 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $95,104, which means there is a maximum of $2,219 to be spent on the costs of renting a home or apartment.

Maryland Sales Tax

State	General Sales Tax	With Max Surtax
Maryland	6%	6%

Maryland Income Tax

State	Income Tax (Low)	Income Tax (High)
Maryland	2%	5.75%

For those who live in Urbana, MD and want to know what the true cost of living is, they ought to look at both the Maryland income tax rate and the Maryland sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Maryland, the sales tax is 6%, while the most you'll pay in surtax is 6%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Maryland, the income tax rate ranges between 2% to 5.75%.

Goods & Services

Item	Urbana	National avg.	Difference
Haircut	$19.56	$15.56	25.7%
Beauty Salon	$55.56	$36.11	53.9%
Toothpaste	$2.78	$2.47	12.6%
Shampoo	$0.99	$0.96	2.2%
Movie	$13.06	$10.13	28.9%
Bowling	$5.30	$4.74	11.9%

Groceries

Item	Urbana	National avg.	Difference
Ground Beef	$4.32	$3.98	8.5%
Fried Chicken	$1.87	$1.41	32.9%
Milk	$2.37	$2.06	14.7%
Potatoes	$3.85	$2.98	29.2%
Pizza	$9.82	$9.47	3.7%
Beer	$9.99	$8.79	13.6%

Health Care

Item	Urbana	National avg.	Difference
Optometrist	$72.75	$101.04	28.0%
Doctor	$93.11	$107.44	13.3%
Dentist	$85.67	$90.42	5.3%
Ibuprofen	$10.08	$9.28	8.6%
Lipitor	$443.02	$426.50	3.9%

Housing

Item	Urbana	National avg.	Difference
Home Price	$421,800.00	$175,700.00	140.1%
Avg. Mortgage Payment	$2,420.26	$1,133.23	113.6%
Apartment Rent	$2,001.00	$920.00	117.5%

Transportation

Item	Urbana	National avg.	Difference
Gasoline	$2.15	$1.99	7.7%
Tire Balancing	$51.28	$45.76	12.1%

Utilities

Item	Urbana	National avg.	Difference
All Electricity	$172.28	$163.81	5.2%
Phone	$26.86	$28.39	5.4%

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, State	Population	Cost of Living Index	National Avg.
Leisure World, MD	9,089	113	13%
Libertytown, MD	1,256	113	13%
Summerfield, MD	11,970	114	14%
Frederick, MD	66,646	115	15%
Ballenger Creek, MD	18,400	118	18%
Urbana, MD	9,990	144	44%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Lambertville, MI	9,988	100	0%
Waverly, IA	9,998	93	-7%
Forest, VA	9,999	100	0%
Sleepy Hollow, NY	10,002	162	62%
Raceland, LA	9,976	88	-12%
Urbana, MD	9,990	144	44%

Source: The Urbana, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Urbana, MD Cost of Living