La Plata, Maryland Cost Of Living

Buy Rent

F

Overall 22%

Goods & Services 12%

Housing 57%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	La Plata	Maryland	National
Cost of living	122	119	100
Goods & Services	112	105	100
Groceries	112	110	100
Health care	102	83	100
Housing	157	150	100
Transportation	99	107	100
Utilities	93	105	100

Key findings

The cost of living in La Plata is 3% higher than the Maryland average
The cost of living in La Plata is 22% higher than the national average
La Plata housing is 57% higher than the national average
Maryland general sales tax is 18% higher than the national average
Maryland state income tax is 19% lower than the national average

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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

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 in La Plata is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. La Plata has a median income of about $115,283 for people who own homes. Based on that number, a maximum of $2,690 should be spent 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 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%

Goods & Services

Item	La Plata	National avg.	Difference
Haircut	$26.68	$20.27	31.6%
Beauty Salon	$64.51	$40.39	59.7%
Toothpaste	$3.09	$2.36	30.9%
Shampoo	$1.09	$1.08	1.4%
Movie	$13.27	$10.99	20.7%
Bowling	$23.12	$15.49	49.2%

Groceries

Item	La Plata	National avg.	Difference
Ground Beef	$4.36	$4.30	1.6%
Fried Chicken	$1.56	$1.40	11.2%
Milk	$2.81	$2.20	27.7%
Potatoes	$4.03	$3.22	25.1%
Pizza	$11.82	$10.74	10.0%
Beer	$10.51	$9.60	9.5%

Health Care

Item	La Plata	National avg.	Difference
Optometrist	$106.32	$109.73	3.1%
Doctor	$128.64	$118.34	8.7%
Dentist	$105.17	$100.94	4.2%
Ibuprofen	$10.17	$9.93	2.4%
Lipitor	$444.67	$469.53	5.3%

Housing

Item	La Plata	National avg.	Difference
Home Price	$320,600.00	$184,700.00	73.6%
Avg. Mortgage Payment	$2,857.81	$1,229.62	132.4%
Apartment Rent	$1,133.00	$949.00	19.4%

Transportation

Item	La Plata	National avg.	Difference
Gasoline	$2.65	$2.71	2.4%
Tire Balancing	$52.44	$51.86	1.1%

Utilities

Item	La Plata	National avg.	Difference
All Electricity	$152.84	$170.84	10.5%
Phone	$181.41	$187.18	3.1%

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.
Port Tobacco Village, MD	5	107	6.7%
Woodlawn CDP (Carroll County), VA	2,247	92	7.7%
Potomac Heights, MD	1,191	94	6.4%
Fairview Beach, VA	643	104	4.2%
Indian Head, MD	3,879	110	10.4%
La Plata, MD	9,059	122	21.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Alcoa, TN	9,058	82	18.2%
Detroit Lakes, MN	9,060	91	8.9%
Sheffield Lake, OH	9,055	90	10.0%
Granbury, TX	9,052	99	0.6%
Sheffield, AL	9,067	80	20.4%
La Plata, MD	9,059	122	21.9%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.