Lake Arbor, MD Cost Of Living
Cost Of Living In Lake Arbor, MD Summary
Cost of living in Lake Arbor 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 Lake Arbor 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 Lake Arbor is 130, with 100 being the average.
The cost of living index in Lake Arbor is 1.3x higher than the national average.
Lake Arbor ranks as the #132 cheapest in Maryland out of 188.
Lake Arbor ranks as the #5,259 cheapest out of 6,412 in the US.
The median home value in Lake Arbor is $358,700.
The median income in Lake Arbor is $110,394.
Table Of Contents
Lake Arbor's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Arbor, MD?
According to the most recent data on the cost of living, Lake Arbor has an overall cost of living index of 130, which is 1.3x higher than the national index of 100.
Compared to Maryland, Lake Arbor has a cost of living index that's 1.1x higher than Maryland's index of 120.
The standard of living in Lake Arbor ranks as #132 most affordable out of the 188 places we measured in Maryland. By definition, that implies Lake Arbor ranks as the #56 most expensive place in the Old Line State.
For more reading on life in Lake Arbor, check out:
- Living In Lake Arbor
- Search Homes For Sale In Lake Arbor, MD
In Maryland
In America
Lake Arbor Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Lake Arbor. Here is how it fairs on each of the criteria:
The Services index in Lake Arbor is 124.
The Groceries index in Lake Arbor is 118.
The Health index in Lake Arbor is 92.
The Housing index in Lake Arbor is 165.
The Transportation index in Lake Arbor is 107.
The Utilities index in Lake Arbor is 114.
| Living Expense | Lake Arbor | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 130 | 120 | 100 | |
| Services | 124 | 109 | 100 | |
| Groceries | 118 | 108 | 100 | |
| Health | 92 | 92 | 100 | |
| Housing | 165 | 156 | 100 | |
| Transportation | 107 | 100 | 100 | |
| Utilities | 114 | 108 | 100 | |
Lake Arbor, 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 Lake Arbor is $358,700.
The Median Rent in Lake Arbor is $2,093.
The Median Income in Lake Arbor is $110,394.
The Home Value To Income in Lake Arbor is 3.2x.
The Rent To Monthly Income in Lake Arbor is 0.23x.
| Statistic | Lake Arbor | Maryland | United States |
|---|---|---|---|
| Median Home Value | $358,700 | $338,500 | $244,900 |
| Median Rent | $2,093 | $1,485 | $1,163 |
| Median Income | $110,394 | $91,431 | $69,021 |
| Home Value To Income | 3.2x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Lake Arbor, MD Costs By Category
Detailed Lake Arbor Services Costs Vs. Maryland
| Item | Lake Arbor | Maryland |
|---|---|---|
| Shampoo | $1.36 | $1.06 |
| Movie | $13.92 | $10.68 |
| Bowling | $19.57 | $14.67 |
| Haircut | $30.9 | $18.62 |
| Beauty Salon | $66.76 | $39.05 |
Detailed Lake Arbor Groceries Costs Vs. Maryland
| Item | Lake Arbor | Maryland |
|---|---|---|
| Ground Beef | $4.41 | $4.22 |
| Fried Chicken | $1.8 | $1.39 |
| Milk | $2.46 | $2.05 |
| Potatoes | $4.33 | $3.29 |
| Pizza | $11.68 | $10.62 |
| Beer | $10.08 | $9.38 |
| Toothpaste | $3.47 | $2.34 |
Detailed Lake Arbor Health Costs Vs. Maryland
| Item | Lake Arbor | Maryland |
|---|---|---|
| Optometrist | $79.25 | $108.57 |
| Doctor | $109.41 | $116.17 |
| Dentist | $94.31 | $99.13 |
Detailed Lake Arbor Transportation Costs Vs. Maryland
| Item | Lake Arbor | Maryland |
|---|---|---|
| Gasoline | $2.31 | $2.22 |
| Tire Balancing | $53.69 | $50.07 |
Detailed Lake Arbor Utilities Costs Vs. Maryland
| Item | Lake Arbor | Maryland |
|---|---|---|
| All Electricity | $204.75 | $167.67 |
| Phone | $184.51 | $175.64 |
Lake Arbor SnackAbility
/10
Cost Of Living In Cities Around Lake Arbor
The cost of living varies in the cities and towns around Lake Arbor. Here's a quick look at the cost of living in the most populous nearby places:
Landover, MD has a cost of living index of 112, 0.9x Lake Arbor.
North Laurel, MD has a cost of living index of 129, 1.0x Lake Arbor.
Summerfield, MD has a cost of living index of 120, 0.9x Lake Arbor.
| City | Population | Cost Of Living | Vs. Lake Arbor |
|---|---|---|---|
| Landover, MD | 24,508 | 112 | 0.9x |
| North Laurel, MD | 24,233 | 129 | 1.0x |
| Summerfield, MD | 16,002 | 120 | 0.9x |
| Kemp Mill, MD | 14,509 | 141 | 1.1x |
| Colesville, MD | 14,468 | 140 | 1.1x |
| Kettering, MD | 13,924 | 123 | 0.9x |
| Mitchellville, MD | 12,160 | 138 | 1.1x |
| Largo, MD | 12,003 | 126 | 1.0x |
| Walker Mill, MD | 10,596 | 114 | 0.9x |
| Chevy Chase, MD | 9,889 | 204 | 1.6x |
