| Index | College Park | Maryland | National |
| Cost of living | 129 | 121 | 100 |
| Groceries | 106 | 105 | 100 |
| Health care | 106 | 109 | 100 |
| Housing | 181 | 151 | 100 |
| Transportation | 110 | 109 | 100 |
| Utilities | 105 | 108 | 100 |
| Lifestyle & Entertainment | 106 | 109 | 100 |
| Household Items | 106 | 105 | 100 |
| Education & Childcare | 111 | 112 | 100 |
Getting a feel for the cost of living in College Park is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in College Park is 129, which is 29% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
If you're in pursuit of an economical living environment, College Park may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, College Park falls within this bracket.
Housing costs are a major factor in the College Park cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 80.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Is College Park affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in College Park, the median home price is 87.5% higher than the national average and monthly rent prices are 64.6% higher than the typical rates. Additionally, the median income levels play a role in affordability, with College Park boasting a median household income of $101,786, 25.1% higher than the national average.
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In College Park, the groceries index is 5.6% higher than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In College Park, the transportation index is 10.3% higher than the national average.
The cost of living data for College Park shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $168,678 | $14,057 | $3,936 | $5,061 |
| Renters | $57,421 | $4,785 | $1,340 | $1,723 |
| State | General Sales Tax | With Max Surtax |
| Maryland | 6% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Maryland | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Rose Hill CDP (Lee County), VA | 731 | 89 | 11.0% |
| Cottage City, MD | 1,193 | 105 | 5.5% |
| Silver Hill, MD | 5,346 | 132 | 31.6% |
| Seat Pleasant, MD | 4,929 | 132 | 32.1% |
| Capitol Heights, MD | 4,609 | 134 | 34.2% |
| College Park, MD | 33,475 | 129 | 29.1% |
| City | Population | Cost of Living Index | National Avg. |
| Pekin, IL | 33,468 | 88 | 11.8% |
| Saint-Georges, QC | 33,468 | n/a | |
| La Verne, CA | 33,460 | 166 | 65.8% |
| St. Charles, IL | 33,452 | 118 | 17.6% |
| Laramie, WY | 33,442 | 103 | 3.0% |
| College Park, MD | 33,475 | 129 | 29.1% |
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