West Ocean City 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.
IndexWest Ocean CityMarylandNational
Cost of living index123115100
IndexWest Ocean CityMarylandNational
Goods & Services index10791100
Groceries index107112100
Health care index10288100
Housing index159154100
Transportation index101108100
Utilities index11499100
An overview of the general cost of living index for West Ocean City, MD is displayed above for your reference. Residents in West Ocean City, MD enjoy a cost of living index of 123. This index is 7% higher than the Maryland average, and 23% 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 West Ocean City, MD, the average cost of goods and services is 18% higher than it is in Maryland, and it is 7% higher than the national average.

Did you know?

  • The cost of living in West Ocean City is 7% higher than the Maryland average.
  • The cost of living in West Ocean City is 23% higher than the national average.
  • The cost of housing in West Ocean City is 59% 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 West Ocean City, MD Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator is meant to help you compare your salary in West Ocean City, 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 West Ocean City, MD, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the West Ocean City, 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$77,772$6,481$1,815$2,333
Renters$27,971$2,331$653$839
The affordability of the housing market in West Ocean City, 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 West Ocean City, MD homeowners, the median income is $77,772. This indicates that a monthly maximum of $1,815 should be spent by homeowners on all housing related costs. Renters have a median income of $27,971. This indicates that renters should have a maximum of $653 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%
One thing to keep in mind when considering the cost of living in West Ocean City, MD is the Maryland sales tax and Maryland income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Maryland sales tax rate is 6% and the maximum surtax that can be charged is 6%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Maryland income tax rates range from 2% to 5.75%.

Goods & Services

ItemWest Ocean CityNational avg.Difference
Haircut $13.00$14.5910.9%
Beauty Salon $37.50$34.688.1%
Toothpaste $2.98$2.4720.5%
Shampoo $1.03$1.020.8%
Movie $10.50$9.876.4%
Bowling $3.99$4.399.1%

Groceries

ItemWest Ocean CityNational avg.Difference
Ground Beef $4.59$4.482.5%
Fried Chicken $1.72$1.4617.5%
Milk $1.95$2.3617.3%
Potatoes $3.99$3.0630.3%
Pizza $8.49$9.248.1%
Beer $8.74$8.631.2%

Health Care

ItemWest Ocean CityNational avg.Difference
Optometrist $135.00$99.7835.3%
Doctor $87.50$105.0316.7%
Dentist $92.50$88.704.3%
Ibuprofen $10.46$9.4111.1%
Lipitor $320.25$298.507.3%

Housing

ItemWest Ocean CityNational avg.Difference
Home Price $303,100.00$175,700.0072.5%
Avg. Mortgage Payment $825.43$1,081.0323.6%
Apartment Rent $1,178.00$920.0028.0%

Transportation

ItemWest Ocean CityNational avg.Difference
Gasoline $2.09$2.090.1%
Tire Balancing $47.50$45.294.9%

Utilities

ItemWest Ocean CityNational avg.Difference
All Electricity$204.71$170.8019.9%
Phone $29.95$28.266.0%
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.
Powellville, MD7589-11%
Willards, MD1,0581011%
Newark, MD3151044%
Berlin, MD4,5201088%
Dagsboro, DE9391099%
West Ocean City, MD4,58612323%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Michigan Center, MI4,58685-15%
Pleasant Garden, NC4,58591-9%
Westlake, LA4,58585-15%
Smithville, TN4,58780-20%
Belleview, FL4,58588-12%
West Ocean City, MD4,58612323%
Source: The West Ocean City, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.