| Index | Laurel | Virginia | National |
| Cost of living | 108 | 111 | 100 |
| Groceries | 103 | 103 | 100 |
| Health care | 100 | 103 | 100 |
| Housing | 120 | 129 | 100 |
| Transportation | 106 | 105 | 100 |
| Utilities | 104 | 104 | 100 |
| Lifestyle & Entertainment | 106 | 103 | 100 |
| Household Items | 101 | 102 | 100 |
| Education & Childcare | 103 | 109 | 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 108, which is 8% 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.
The cost of living in Laurel is about average when compared to all other cities across the nation. You can expect that everyday items like food, household expenses and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.
Is Laurel 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 Laurel, the median home price is 17.8% higher than the national average and monthly rent prices are 24.7% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Laurel boasting a median household income of $84,265, 3.6% higher than the national average.
Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Laurel, the transportation index is 5.7% higher than the national average.
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Laurel, the general sales tax rate starts at 5.3%, and income tax rates begin at 2%.
The Laurel cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $117,636 | $9,803 | $2,745 | $3,529 |
| Renters | $65,434 | $5,453 | $1,527 | $1,963 |
| State | General Sales Tax | With Max Surtax |
| Virginia | 5.3% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Virginia | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Montrose, VA | 7,859 | 97 | 3.4% |
| Bensley, VA | 6,198 | 99 | 1.1% |
| Sandston, VA | 7,053 | 101 | 0.9% |
| Highland Springs, VA | 15,404 | 99 | 1.0% |
| East Highland Park, VA | 17,051 | 99 | 0.9% |
| Laurel, VA | 18,202 | 108 | 8.3% |
| City | Population | Cost of Living Index | National Avg. |
| Maryland City, MD | 18,200 | 130 | 30.3% |
| Sunland Park, NM | 18,197 | 92 | 8.1% |
| Greenfield, CA | 18,212 | 135 | 34.7% |
| Steinbach, MB | 18,212 | n/a | |
| Cinco Ranch, TX | 18,190 | 127 | 27.1% |
| Laurel, VA | 18,202 | 108 | 8.3% |
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