F
36%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
104%
Housing NAT. AVG.
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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 Wheaton Maryland National
Cost of living136119100
Goods & Services109106100
Groceries108106100
Health care9797100
Housing204150100
Transportation9598100
Utilities110111100

An Overview of Cost of Living in Wheaton, MD

Understanding the cost of living in Wheaton 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 Wheaton cost of living index is 136, which is 36% 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're in pursuit of an economical living environment, Wheaton may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Wheaton falls within this bracket.

When it comes to the cost of living in Wheaton, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 103.9% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Is Wheaton Affordable?

Is Wheaton 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 Wheaton, the median home price is 107.7% higher than the national average and monthly rent prices are 95.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Wheaton boasting a median household income of $88,241, 59.5% higher than the national average.

What Factors can Influence the Cost of Living in Wheaton?

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Wheaton, the transportation index is 4.7% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Wheaton, healthcare costs are 2.8% lower than the national average.

Where is the Data From?

The Wheaton cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Wheaton is 14% higher than the Maryland average
  • The cost of living in Wheaton is 36% higher than the national average
  • Wheaton housing is 104% 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

Most Affordable Places to Live in and Around Wheaton

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Compare Wheaton, MD Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$100,108$8,342$2,336$3,004
      Renters$62,695$5,225$1,463$1,881
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Wheaton, MD, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Wheaton, homeowners have a median income of $100,108. Using that number, a maximum of $2,336 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $62,695, which means there is a maximum of $1,463 to be spent on the costs of renting a home or apartment.

      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 Wheaton National avg. Difference
      Haircut $26.11$24.267.6%
      Beauty Salon $70.08$45.5653.8%
      Toothpaste $3.81$3.702.8%
      Shampoo $1.51$1.2817.9%
      Movie $15.69$12.1329.3%
      Bowling $24.83$18.0038.0%

      Groceries

      Item Wheaton National avg. Difference
      Ground Beef $6.24$5.846.9%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.78$4.672.2%
      Potatoes $5.49$4.9311.3%
      Pizza $12.56$12.093.9%
      Beer $11.10$10.416.6%

      Health Care

      Item Wheaton National avg. Difference
      Optometrist $92.00$125.6826.8%
      Doctor $135.03$135.780.5%
      Dentist $117.67$113.293.9%
      Ibuprofen $11.52$10.658.1%
      Lipitor $403.79$468.6013.8%

      Housing

      Item Wheaton National avg. Difference
      Home Price $383,600.00$184,700.00107.7%
      Avg. Mortgage Payment $4,819.29$2,346.69105.4%
      Apartment Rent $1,852.00$949.0095.2%

      Transportation

      Item Wheaton National avg. Difference
      Gasoline $3.25$3.466.0%
      Tire Balancing $59.00$59.921.5%

      Utilities

      Item Wheaton National avg. Difference
      All Electricity $222.47$193.9914.7%
      Phone $197.37$192.252.7%
      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.
      Cottage City, MD1,1501088.4%
      Silver Hill, MD5,15511414.0%
      Seat Pleasant, MD4,75311414.3%
      Capitol Heights, MD4,50511717.5%
      Coral Hills, MD9,45711818.2%
      Wheaton, MD51,19113635.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Florissant, MO51,2208712.8%
      Grand Island, NE51,2508812.5%
      Wylie, TX51,25112121.5%
      Levittown, NY51,26614646.5%
      Logan, UT51,2661011.4%
      Wheaton, MD51,19113635.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.