| Index | Laurel | Maryland | National |
| Cost of living | 125 | 121 | 100 |
| Groceries | 104 | 105 | 100 |
| Health care | 110 | 109 | 100 |
| Housing | 160 | 151 | 100 |
| Transportation | 108 | 109 | 100 |
| Utilities | 112 | 108 | 100 |
| Lifestyle & Entertainment | 114 | 109 | 100 |
| Household Items | 108 | 105 | 100 |
| Education & Childcare | 118 | 112 | 100 |
Understanding the cost of living in Laurel can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Laurel cost of living index is 125, which is 25% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If you prioritize affordability when seeking a new place to live, Laurel may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Laurel falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs are a major factor in the Laurel 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 60.1% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Nobody knows their city better than the people who actually live there. So, we asked 6 local residents how they would rate the cost of living in Laurel and this is how they responded. 33% of people said that the cost of living was affordable, with prices decreasing, while 67% of people said that the cost of living was very expensive and prices continue to rise.
Wondering if Laurel is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Laurel, for example, the median home price is 57.4% higher than what folks pay nationally, and monthly rent is 66.2% higher than the usual rates. Plus, income levels matter too, with Laurel boasting a median household income of $117,684, which is 44.7% higher than the national average.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Laurel, the utilities index registers 11.8% higher than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Laurel, the standard sales tax rate starts at 6%, and the income tax rates commence at 2%.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Laurel, the transportation index is 7.5% higher than the national average.
The cost of living data for Laurel shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $155,948 | $12,996 | $3,639 | $4,679 |
| Renters | $98,672 | $8,223 | $2,302 | $2,960 |
| 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. |
| Lansdowne, MD | 8,964 | 104 | 4.0% |
| Baltimore, MD | 621,744 | 108 | 7.9% |
| Cottage City, MD | 1,193 | 105 | 5.5% |
| Woodlawn CDP (Prince George's County), MD | 8,071 | 110 | 9.6% |
| Brooklyn Park, MD | 15,648 | 113 | 13.3% |
| Laurel, MD | 26,740 | 125 | 24.7% |
| City | Population | Cost of Living Index | National Avg. |
| Lemoore, CA | 26,733 | 119 | 18.9% |
| Terrytown, LA | 26,731 | 97 | 3.4% |
| Woodburn, OR | 26,769 | 111 | 11.5% |
| West Whittier-Los Nietos, CA | 26,704 | 149 | 48.5% |
| Prosper, TX | 26,777 | 141 | 41.3% |
| Laurel, MD | 26,740 | 125 | 24.7% |
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