D
18%
Overall NAT. AVG.
10%
Goods & Services NAT. AVG.
38%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Glassmanor Maryland National
Cost of living118119100
Goods & Services110106100
Groceries113106100
Health care10997100
Housing138150100
Transportation11198100
Utilities101111100

An Overview of Cost of Living in Glassmanor, MD

Getting a feel for the cost of living in Glassmanor 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 Glassmanor is 118, which is 18% 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.

Housing costs are a major factor in the Glassmanor 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 38% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Glassmanor, you you will have to spend 10.2% more than average when compared to the typical prices for these items, making it a more expensive place to live.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Glassmanor, it's the same story – grocery costs are 12.6% higher than what people pay across the country.

Is Glassmanor Affordable?

Is Glassmanor 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 Glassmanor, the median home price is 38.4% higher than the national average and monthly rent prices are 36.9% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Glassmanor boasting a median household income of $61,153, 10.5% higher than the national average.

What Factors can Influence the Cost of Living in Glassmanor?

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.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Glassmanor comes in at 0.8% higher than the national average.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Glassmanor, the transportation index stands at 10.7% higher than the national average.

Where is the Data From?

The cost of living data in Glassmanor displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Glassmanor is 1% lower than the Maryland average
  • The cost of living in Glassmanor is 18% higher than the national average
  • Glassmanor housing is 38% higher than the national average
  • Maryland general sales tax is 18% higher than the national average
  • Maryland state income tax is 23% lower than the national average

Most Affordable Places to Live in and Around Glassmanor

See all the best places to live around Glassmanor

Compare Glassmanor, MD Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$95,434$7,953$2,227$2,863
      Renters$53,138$4,428$1,240$1,594
      To approximate the cost of living and the housing affordability in Glassmanor, MD, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Glassmanor have a median income of $95,434. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,227 per month to avoid calamity and poverty. The renters in the city have an income of about $53,138, which would make their monthly maximum allowable rental costs $1,240.

      Maryland Sales Tax

      State General Sales Tax With Max Surtax
      Maryland 6% 6%

      Maryland Income Tax

      State Income Tax (Low) Income Tax (High)
      Maryland 2% 5.75%

      Goods & Services

      Item Glassmanor National avg. Difference
      Haircut $25.51$24.265.1%
      Beauty Salon $47.63$45.564.5%
      Toothpaste $3.62$3.702.1%
      Shampoo $1.34$1.284.4%
      Movie $13.08$12.137.8%
      Bowling $24.34$18.0035.2%

      Groceries

      Item Glassmanor National avg. Difference
      Ground Beef $6.08$5.844.1%
      Fried Chicken $1.41$1.5710.6%
      Milk $4.68$4.670.2%
      Potatoes $5.30$4.937.3%
      Pizza $12.49$12.093.4%
      Beer $10.83$10.414.0%

      Health Care

      Item Glassmanor National avg. Difference
      Optometrist $120.12$125.684.4%
      Doctor $135.82$135.780.0%
      Dentist $98.77$113.2912.8%
      Ibuprofen $10.80$10.651.4%
      Lipitor $485.49$468.603.6%

      Housing

      Item Glassmanor National avg. Difference
      Home Price $255,700.00$184,700.0038.4%
      Avg. Mortgage Payment $1,923.85$2,346.6918.0%
      Apartment Rent $1,299.00$949.0036.9%

      Transportation

      Item Glassmanor National avg. Difference
      Gasoline $3.34$3.463.6%
      Tire Balancing $64.70$59.928.0%

      Utilities

      Item Glassmanor National avg. Difference
      All Electricity $213.29$193.999.9%
      Phone $184.83$192.253.9%
      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 Population Cost of Living Index National Avg.
      Cedarville, MD5771099.3%
      Rose Hill CDP (Lee County), VA708927.8%
      Woodlawn CDP (Carroll County), VA2,247945.9%
      Wakefield town, VA810954.6%
      Belle Haven town, VA5621022.0%
      Glassmanor, MD16,30511817.9%

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      New River, AZ16,30313434.1%
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      Somerton, AZ16,301964.1%
      Lebanon, IN16,317919.0%
      Douglas, AZ16,292918.5%
      Glassmanor, MD16,30511817.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.