Cost Of Living in West Ocean City, MD

F

21%

Overall NAT. AVG.

6%

Goods & Services NAT. AVG.

67%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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	West Ocean City	Maryland	National
Cost of living	121	119	100
Goods & Services	106	106	100
Groceries	100	106	100
Health care	104	97	100
Housing	167	150	100
Transportation	98	98	100
Utilities	95	111	100

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Cost Of Living Quick Facts

The cost of living in West Ocean City is 2% higher than the Maryland average
The cost of living in West Ocean City is 21% higher than the national average
West Ocean City housing is 67% 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	$94,390	$7,866	$2,202	$2,832
Renters	$76,065	$6,339	$1,775	$2,282

The affordability of the housing market in West Ocean City, MD as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among West Ocean City homeowners, the median income is $94,390. This indicates that a monthly maximum of $2,202 should be spent by homeowners on all housing related costs. Renters have a median income of $76,065. This indicates that renters would have a maximum of $1,775 for their rent related monthly costs.

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	West Ocean City	National avg.	Difference
Haircut	$29.11	$24.26	20.0%
Beauty Salon	$52.88	$45.56	16.1%
Toothpaste	$3.76	$3.70	1.6%
Shampoo	$1.20	$1.28	6.5%
Movie	$13.93	$12.13	14.8%
Bowling	$23.28	$18.00	29.3%

Groceries

Item	West Ocean City	National avg.	Difference
Ground Beef	$5.47	$5.84	6.3%
Fried Chicken	$1.34	$1.57	14.8%
Milk	$4.61	$4.67	1.3%
Potatoes	$5.39	$4.93	9.2%
Pizza	$12.81	$12.09	6.0%
Beer	$10.53	$10.41	1.1%

Health Care

Item	West Ocean City	National avg.	Difference
Optometrist	$144.11	$125.68	14.7%
Doctor	$139.66	$135.78	2.9%
Dentist	$132.33	$113.29	16.8%
Ibuprofen	$10.65	$10.65	0.0%
Lipitor	$369.07	$468.60	21.2%

Housing

Item	West Ocean City	National avg.	Difference
Home Price	$330,100.00	$184,700.00	78.7%
Avg. Mortgage Payment	$2,380.70	$2,346.69	1.4%
Apartment Rent	$1,322.00	$949.00	39.3%

Transportation

Item	West Ocean City	National avg.	Difference
Gasoline	$3.40	$3.46	1.7%
Tire Balancing	$57.32	$59.92	4.3%

Utilities

Item	West Ocean City	National avg.	Difference
All Electricity	$182.13	$193.99	6.1%
Phone	$182.79	$192.25	4.9%

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.
Whaleyville, MD	48	102	2.0%
Powellville, MD	109	91	9.1%
Willards, MD	1,034	98	1.7%
Frankford, DE	712	102	1.8%
Dagsboro, DE	1,026	108	7.8%
West Ocean City, MD	4,661	121	21.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Edinburgh, IN	4,661	88	12.4%
Blackwood, NJ	4,660	105	4.6%
Pleasant View, TN	4,660	106	5.5%
Lindstrom, MN	4,662	102	2.3%
Wanamassa, NJ	4,662	142	41.8%
West Ocean City, MD	4,661	121	21.5%