La Plata, MD Cost Of Living

La Plata 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.
Index	La Plata	Maryland	National
Cost of living index	124	120	100
Index	La Plata	Maryland	National
Goods & Services index	109	109	100
Groceries index	117	111	100
Health care index	107	93	100
Housing index	157	150	100
Transportation index	110	104	100
Utilities index	103	104	100

Here we can see a simple outline of the cost of living in La Plata, MD. As you can see, with the average cost of living in La Plata, MD being 124, that puts it 3% higher than the average of Maryland and 24% 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 La Plata, MD, the price of goods and services are 1% lower than the average of Maryland as well as 9% higher than the nation's average.

Did you know?

The cost of living in La Plata is 3% higher than the Maryland average.
The cost of living in La Plata is 24% higher than the national average.
The cost of housing in La Plata is 57% 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.

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Compare La Plata, MD Cost of living To Other Cities

Salary Calculator

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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 La Plata, 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 La Plata, MD, you have to earn a higher income in order to still have the same standard of living. To operate the La Plata, 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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$115,283	$9,607	$2,690	$3,459
Renters	$41,923	$3,494	$978	$1,258

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in La Plata, MD, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. La Plata, MD has a median income of about $115,283 for people who own homes. Based on that number, a person should spend a maximum of $2,690 on expenses related to housing. Renters have a slightly different median income, which is $41,923. Based on this average, renters should spend no more than $978 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%

When considering the overall cost of living expenses in La Plata, MD, it's important to take into account the sales tax for Maryland, as well as the rate for income tax in Maryland. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Maryland is 6%, and the sales tax in the state of Maryland is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Maryland starts from 2% and goes up to 5.75%.

Goods & Services

Item	La Plata	National avg.	Difference
Haircut	$18.11	$16.09	12.6%
Beauty Salon	$62.00	$37.33	66.1%
Toothpaste	$3.17	$2.45	29.7%
Shampoo	$1.27	$1.00	26.6%
Movie	$12.63	$10.28	22.8%
Bowling	$5.45	$4.93	10.5%

Groceries

Item	La Plata	National avg.	Difference
Ground Beef	$4.24	$3.80	11.6%
Fried Chicken	$2.29	$1.40	63.7%
Milk	$2.45	$2.01	21.9%
Potatoes	$3.69	$3.01	22.4%
Pizza	$10.49	$9.89	6.1%
Beer	$10.10	$8.90	13.5%

Health Care

Item	La Plata	National avg.	Difference
Optometrist	$95.25	$102.16	6.8%
Doctor	$122.58	$108.36	13.1%
Dentist	$98.00	$92.53	5.9%
Ibuprofen	$9.83	$9.28	5.9%
Lipitor	$432.66	$425.82	1.6%

Housing

Item	La Plata	National avg.	Difference
Home Price	$320,600.00	$184,700.00	73.6%
Avg. Mortgage Payment	$2,942.02	$1,202.44	144.7%
Apartment Rent	$1,133.00	$949.00	19.4%

Transportation

Item	La Plata	National avg.	Difference
Gasoline	$2.45	$2.24	9.0%
Tire Balancing	$51.67	$46.29	11.6%

Utilities

Item	La Plata	National avg.	Difference
All Electricity	$143.97	$165.96	13.2%
Phone	$34.95	$28.68	21.8%

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, State	Population	Cost of Living Index	National Avg.
Port Tobacco Village, MD	5	109	9%
Woodlawn CDP (Carroll County), VA	2,247	94	-6%
Potomac Heights, MD	1,191	95	-5%
Fairview Beach, VA	643	106	6%
Indian Head, MD	3,879	112	12%
La Plata, MD	9,059	124	24%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Detroit Lakes, MN	9,060	95	-5%
Alcoa, TN	9,058	81	-19%
Sheffield Lake, OH	9,055	95	-5%
Granbury, TX	9,052	94	-6%
Sheffield, AL	9,067	83	-17%
La Plata, MD	9,059	124	24%

Source: The La Plata, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

La Plata, MD Cost of Living