Olney, MD Cost Of Living
Cost Of Living In Olney, MD Summary
Cost of living in Olney 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 Olney 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 Olney is 150, with 100 being the average.
The cost of living index in Olney is 1.5x higher than the national average.
Olney ranks as the #173 cheapest in Maryland out of 188.
Olney ranks as the #5,843 cheapest out of 6,412 in the US.
The median home value in Olney is $551,300.
The median income in Olney is $161,065.
Table Of Contents
Olney's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Olney, MD?
According to the most recent data on the cost of living, Olney has an overall cost of living index of 150, which is 1.5x higher than the national index of 100.
Compared to Maryland, Olney has a cost of living index that's 1.2x higher than Maryland's index of 120.
The standard of living in Olney ranks as #173 most affordable out of the 188 places we measured in Maryland. By definition, that implies Olney ranks as the #15 most expensive place in the Old Line State.
For more reading on life in Olney, check out:
- Living In Olney
- Search Homes For Sale In Olney, MD
In Maryland
In America
Olney Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Olney. Here is how it fairs on each of the criteria:
The Services index in Olney is 116.
The Groceries index in Olney is 116.
The Health index in Olney is 88.
The Housing index in Olney is 236.
The Transportation index in Olney is 113.
The Utilities index in Olney is 111.
| Living Expense | Olney | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 150 | 120 | 100 | |
| Services | 116 | 109 | 100 | |
| Groceries | 116 | 108 | 100 | |
| Health | 88 | 92 | 100 | |
| Housing | 236 | 156 | 100 | |
| Transportation | 113 | 100 | 100 | |
| Utilities | 111 | 108 | 100 | |
Olney, 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 Olney is $551,300.
The Median Rent in Olney is $2,084.
The Median Income in Olney is $161,065.
The Home Value To Income in Olney is 3.4x.
The Rent To Monthly Income in Olney is 0.16x.
| Statistic | Olney | Maryland | United States |
|---|---|---|---|
| Median Home Value | $551,300 | $338,500 | $244,900 |
| Median Rent | $2,084 | $1,485 | $1,163 |
| Median Income | $161,065 | $91,431 | $69,021 |
| Home Value To Income | 3.4x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.16x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Olney, MD Costs By Category
Detailed Olney Services Costs Vs. Maryland
Detailed Olney Groceries Costs Vs. Maryland
Detailed Olney Health Costs Vs. Maryland
Detailed Olney Transportation Costs Vs. Maryland
Detailed Olney Utilities Costs Vs. Maryland
Olney SnackAbility
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Cost Of Living In Cities Around Olney
The cost of living varies in the cities and towns around Olney. Here's a quick look at the cost of living in the most populous nearby places:
Aspen Hill, MD has a cost of living index of 140, 0.9x Olney.
Ilchester, MD has a cost of living index of 133, 0.9x Olney.
Clarksburg, MD has a cost of living index of 153, 1.0x Olney.
| City | Population | Cost Of Living | Vs. Olney |
|---|---|---|---|
| Aspen Hill, MD | 53,850 | 140 | 0.9x |
| Ilchester, MD | 27,513 | 133 | 0.9x |
| Clarksburg, MD | 27,354 | 153 | 1.0x |
| North Potomac, MD | 24,449 | 167 | 1.1x |
| North Laurel, MD | 24,233 | 129 | 0.9x |
| Redland, MD | 17,965 | 140 | 0.9x |
| Cloverly, MD | 16,473 | 146 | 1.0x |
| Glenmont, MD | 15,795 | 139 | 0.9x |
| Kemp Mill, MD | 14,509 | 141 | 0.9x |
| Colesville, MD | 14,468 | 140 | 0.9x |
