Elkton, MD Cost Of Living
Cost Of Living In Elkton, MD Summary
Cost of living in Elkton research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Elkton is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Maryland, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Elkton is 110, with 100 being the average.
The cost of living index in Elkton is 1.1x higher than the national average.
Elkton ranks as the #33 cheapest in Maryland out of 188.
Elkton ranks as the #4,128 cheapest out of 6,412 in the US.
The median home value in Elkton is $218,200.
The median income in Elkton is $57,682.
Table Of Contents
Elkton's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Elkton, MD?
According to the most recent data on the cost of living, Elkton has an overall cost of living index of 110, which is 1.1x higher than the national index of 100.
Compared to Maryland, Elkton has a cost of living index that's 0.9x lower than Maryland's index of 120.
The standard of living in Elkton ranks as #33 most affordable out of the 188 places we measured in Maryland. By definition, that implies Elkton ranks as the #155 most expensive place in the Old Line State.
For more reading on life in Elkton, check out:
- Living In Elkton
- Elkton Crime Report
- Search Homes For Sale In Elkton, MD
In Maryland
In America
Elkton Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Elkton. Here is how it fairs on each of the criteria:
The Services index in Elkton is 111.
The Groceries index in Elkton is 125.
The Health index in Elkton is 112.
The Housing index in Elkton is 107.
The Transportation index in Elkton is 115.
The Utilities index in Elkton is 84.
| Living Expense | Elkton | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 110 | 120 | 100 | |
| Services | 111 | 109 | 100 | |
| Groceries | 125 | 108 | 100 | |
| Health | 112 | 92 | 100 | |
| Housing | 107 | 156 | 100 | |
| Transportation | 115 | 100 | 100 | |
| Utilities | 84 | 108 | 100 | |
Elkton, MD Housing Cost Breakdown
Housing swings affordability the most between places in Maryland, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Elkton is $218,200.
The Median Rent in Elkton is $1,180.
The Median Income in Elkton is $57,682.
The Home Value To Income in Elkton is 3.8x.
The Rent To Monthly Income in Elkton is 0.25x.
| Statistic | Elkton | Maryland | United States |
|---|---|---|---|
| Median Home Value | $218,200 | $338,500 | $244,900 |
| Median Rent | $1,180 | $1,485 | $1,163 |
| Median Income | $57,682 | $91,431 | $69,021 |
| Home Value To Income | 3.8x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.25x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Elkton, MD Costs By Category
Detailed Elkton Services Costs Vs. Maryland
Detailed Elkton Groceries Costs Vs. Maryland
Detailed Elkton Health Costs Vs. Maryland
Detailed Elkton Transportation Costs Vs. Maryland
Detailed Elkton Utilities Costs Vs. Maryland
Elkton SnackAbility
/10
Cost Of Living In Cities Around Elkton
The cost of living varies in the cities and towns around Elkton. Here's a quick look at the cost of living in the most populous nearby places:
Newark, DE has a cost of living index of 117, 1.1x Elkton.
Bear, DE has a cost of living index of 109, 1.0x Elkton.
Glasgow, DE has a cost of living index of 120, 1.1x Elkton.
| City | Population | Cost Of Living | Vs. Elkton |
|---|---|---|---|
| Newark, DE | 31,393 | 117 | 1.1x |
| Bear, DE | 21,625 | 109 | 1.0x |
| Glasgow, DE | 15,342 | 120 | 1.1x |
| Havre de Grace, MD | 14,625 | 116 | 1.1x |
| Brookside, DE | 14,202 | 109 | 1.0x |
| Hockessin, DE | 13,464 | 141 | 1.3x |
| Pennsville, NJ | 12,093 | 103 | 0.9x |
| Pike Creek Valley, DE | 11,718 | 116 | 1.1x |
| North Star, DE | 8,009 | 143 | 1.3x |
| Pike Creek, DE | 7,398 | 131 | 1.2x |
