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.
A general summary of the cost of living index in Glassmanor, MD is shown above. Compared to the state average of Maryland the cost of living index in Glassmanor, MD is 110, which is 8% lower than the average in Maryland and compared to the national average it is 10% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Glassmanor, MD goods and services come in at 1% lower than the average in Maryland and are 9% higher than compared to the nationwide average.
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Did you know?
The cost of living in Glassmanor is 8% lower than the Maryland average.
The cost of living in Glassmanor is 10% higher than the national average.
The cost of housing in Glassmanor is 12% 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 Glassmanor, MD Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator is used in order to provide a comparison of your current salary in Glassmanor, 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 Glassmanor, MD, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Glassmanor, 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
Max Budget (28% DTI)
Max Budget (36% DTI)
One can approximate the cost of living and the housing affordability in Glassmanor, 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 Glassmanor, MD have a median income of $76,396. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,782 per month to avoid calamity and poverty. The renters in the city have an income of about $45,685, which would make their monthly maximum allowable rental costs $1,066.
Maryland Sales Tax
General Sales Tax
With Max Surtax
Maryland Income Tax
Income Tax (Low)
Income Tax (High)
One thing to keep in mind when considering the cost of living in Glassmanor, 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
Avg. Mortgage Payment
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.