| Index | Edgewood | Maryland | National |
| Cost of living | 108 | 121 | 100 |
| Groceries | 105 | 105 | 100 |
| Health care | 108 | 109 | 100 |
| Housing | 108 | 151 | 100 |
| Transportation | 106 | 109 | 100 |
| Utilities | 112 | 108 | 100 |
| Lifestyle & Entertainment | 108 | 109 | 100 |
| Household Items | 106 | 105 | 100 |
| Education & Childcare | 110 | 112 | 100 |
Knowing the cost of living in Edgewood allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Edgewood stands at 108, marking it 8% higher than the national average.
The cost of living in Edgewood closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Edgewood can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Is Edgewood an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Edgewood, the median home price is 1.5% higher than what most folks pay across the country, and monthly rent prices are 23.4% higher than the usual rates. Income levels in Edgewood come in at $100,318, which is 23.3% higher than the national average.
Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Edgewood, the housing index is 8.1% higher than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
The Edgewood cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
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| Groceries index | |
| Health care index | |
| Housing index | |
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| Utilities index | |
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| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $127,426 | $10,619 | $2,973 | $3,823 |
| Renters | $52,951 | $4,413 | $1,235 | $1,589 |
| 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. |
| Georgetown, MD | 23 | 106 | 6.5% |
| Bel Air CDP, MD | 1,421 | 100 | 0.1% |
| Butlertown, MD | 335 | 102 | 2.3% |
| Dundalk, MD | 65,241 | 106 | 5.9% |
| Port Deposit, MD | 647 | 106 | 5.6% |
| Edgewood, MD | 26,016 | 108 | 7.6% |
| City | Population | Cost of Living Index | National Avg. |
| Caledonia, WI | 26,019 | 102 | 2.3% |
| Hazelwood, MO | 26,011 | 89 | 10.8% |
| Palm City, FL | 26,022 | 136 | 36.0% |
| Woodstock, IL | 26,024 | 101 | 0.5% |
| North Tustin, CA | 26,001 | 210 | 109.7% |
| Edgewood, MD | 26,016 | 108 | 7.6% |
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