New Market, Maryland Cost Of Living

F

39%

Overall NAT. AVG.

8%

Goods & Services NAT. AVG.

114%

Housing NAT. AVG.

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	New Market	Maryland	National
Cost of living	139	119	100
Goods & Services	108	105	100
Groceries	111	110	100
Health care	84	83	100
Housing	214	150	100
Transportation	113	107	100
Utilities	105	105	100

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Cost Of Living Quick Facts

The cost of living in New Market is 17% higher than the Maryland average
The cost of living in New Market is 39% higher than the national average
New Market housing is 114% higher than the national average
Maryland general sales tax is 18% higher than the national average
Maryland state income tax is 11% 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	$116,563	$9,714	$2,720	$3,497
Renters	$63,750	$5,313	$1,487	$1,913

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	New Market	National avg.	Difference
Haircut	$26.32	$20.27	29.8%
Beauty Salon	$64.54	$40.39	59.8%
Toothpaste	$2.19	$2.36	7.3%
Shampoo	$0.96	$1.08	11.2%
Movie	$12.17	$10.99	10.8%
Bowling	$17.02	$15.49	9.9%

Groceries

Item	New Market	National avg.	Difference
Ground Beef	$5.18	$4.30	20.5%
Fried Chicken	$1.53	$1.40	9.6%
Milk	$2.49	$2.20	12.9%
Potatoes	$3.30	$3.22	2.4%
Pizza	$11.96	$10.74	11.4%
Beer	$10.97	$9.60	14.3%

Health Care

Item	New Market	National avg.	Difference
Optometrist	$74.77	$109.73	31.9%
Doctor	$96.52	$118.34	18.4%
Dentist	$86.86	$100.94	14.0%
Ibuprofen	$9.92	$9.93	0.2%
Lipitor	$398.89	$469.53	15.0%

Housing

Item	New Market	National avg.	Difference
Home Price	$407,900.00	$184,700.00	120.8%
Avg. Mortgage Payment	$2,757.85	$1,229.62	124.3%
Apartment Rent	$1,875.00	$949.00	97.6%

Transportation

Item	New Market	National avg.	Difference
Gasoline	$2.97	$2.71	9.5%
Tire Balancing	$61.49	$51.86	18.6%

Utilities

Item	New Market	National avg.	Difference
All Electricity	$180.30	$170.84	5.5%
Phone	$194.85	$187.18	4.1%

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.
Middleburg, MD	19	103	3.0%
Union Bridge, MD	880	101	1.0%
Westminster, MD	18,665	109	8.8%
Libertytown, MD	1,138	112	12.0%
New Windsor, MD	1,287	109	9.4%
New Market, MD	1,133	139	39.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Berry Creek, CA	1,133	107	7.2%
Orlinda, TN	1,133	94	6.1%
Greenwich, NB	1,133	n/a
Carling, ON	1,133	n/a
Powell River D, BC	1,133	n/a
New Market, MD	1,133	139	39.3%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.