Cheverly 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.
IndexCheverlyMarylandNational
Cost of living index127121100
IndexCheverlyMarylandNational
Goods & Services index122108100
Groceries index116119100
Health care index9386100
Housing index152150100
Transportation index108108100
Utilities index116108100
Here we can see a simple outline of the cost of living in Cheverly, MD. As you can see, with the average cost of living in Cheverly, MD being 127, that puts it 5% higher than the average of Maryland and 27% 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 Cheverly, MD, the price of goods and services are 13% higher than the average of Maryland as well as 22% higher than the nation's average.
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Did you know?

  • The cost of living in Cheverly is 5% higher than the Maryland average.
  • The cost of living in Cheverly is 27% higher than the national average.
  • The cost of housing in Cheverly is 52% 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.

Compare Cheverly, MD Cost of living To Other Cities

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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
      Using the salary calculator lets you compare the salary you earn in Cheverly, MD to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Cheverly, MD, you have to earn a higher income in order to still have the same standard of living. To operate the Cheverly, MD salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$112,527$9,377$2,625$3,376
      Renters$62,222$5,185$1,452$1,867
      One can approximate the cost of living and the housing affordability in Cheverly, MD by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Cheverly, MD have a median income of $112,527. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,625 per month to avoid calamity and poverty. The renters in the city have an income of about $62,222, which would make their monthly maximum allowable rental costs $1,452.

      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 Cheverly, 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

      ItemCheverlyNational avg.Difference
      Haircut $23.96$17.4937.0%
      Beauty Salon $63.61$38.1766.6%
      Toothpaste $3.05$2.3231.4%
      Shampoo $1.35$1.0133.4%
      Movie $13.92$10.7229.8%
      Bowling $20.61$13.8648.7%

      Groceries

      ItemCheverlyNational avg.Difference
      Ground Beef $4.49$3.9015.1%
      Fried Chicken $1.76$1.4026.1%
      Milk $2.45$1.9624.9%
      Potatoes $4.51$3.1841.7%
      Pizza $11.06$10.396.4%
      Beer $10.26$9.2311.2%

      Health Care

      ItemCheverlyNational avg.Difference
      Optometrist $79.25$106.3425.5%
      Doctor $109.41$115.255.1%
      Dentist $94.14$98.384.3%
      Ibuprofen $10.29$9.2611.1%
      Lipitor $402.41$466.4713.7%

      Housing

      ItemCheverlyNational avg.Difference
      Home Price $297,100.00$184,700.0060.9%
      Avg. Mortgage Payment $3,689.97$1,273.32189.8%
      Apartment Rent $1,231.00$949.0029.7%

      Transportation

      ItemCheverlyNational avg.Difference
      Gasoline $2.82$2.598.8%
      Tire Balancing $53.69$48.909.8%

      Utilities

      ItemCheverlyNational avg.Difference
      All Electricity$214.22$167.6027.8%
      Phone $181.68$163.4211.2%
      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.
      Rose Hill CDP (Lee County), VA70891-9%
      Woodlawn CDP (Carroll County), VA2,24793-7%
      Belle Haven town, VA5621011%
      Cottage City, MD1,2091099%
      Silver Hill, MD4,80211212%
      Cheverly, MD6,39012727%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Seneca Falls, NY6,39088-12%
      Brookings, OR6,39012020%
      Iowa Park, TX6,39080-20%
      Edinboro, PA6,39397-3%
      Wollochet, WA6,38613838%
      Cheverly, MD6,39012727%
      Source: The Cheverly, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.