Parkville, MD Cost Of Living
Cost Of Living In Parkville, MD Summary
Cost of living in Parkville 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 Parkville 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 Parkville is 107, with 100 being the average.
The cost of living index in Parkville is 1.1x higher than the national average.
Parkville ranks as the #21 cheapest in Maryland out of 188.
Parkville ranks as the #3,867 cheapest out of 6,412 in the US.
The median home value in Parkville is $213,800.
The median income in Parkville is $72,523.
Table Of Contents
Parkville's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Parkville, MD?
According to the most recent data on the cost of living, Parkville has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.
Compared to Maryland, Parkville has a cost of living index that's 0.9x lower than Maryland's index of 120.
The standard of living in Parkville ranks as #21 most affordable out of the 188 places we measured in Maryland. By definition, that implies Parkville ranks as the #167 most expensive place in the Old Line State.
For more reading on life in Parkville, check out:
- Living In Parkville
- Search Homes For Sale In Parkville, MD
In Maryland
In America
Parkville Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Parkville. Here is how it fairs on each of the criteria:
The Services index in Parkville is 106.
The Groceries index in Parkville is 111.
The Health index in Parkville is 83.
The Housing index in Parkville is 110.
The Transportation index in Parkville is 103.
The Utilities index in Parkville is 105.
| Living Expense | Parkville | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 107 | 120 | 100 | |
| Services | 106 | 109 | 100 | |
| Groceries | 111 | 108 | 100 | |
| Health | 83 | 92 | 100 | |
| Housing | 110 | 156 | 100 | |
| Transportation | 103 | 100 | 100 | |
| Utilities | 105 | 108 | 100 | |
Parkville, 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 Parkville is $213,800.
The Median Rent in Parkville is $1,291.
The Median Income in Parkville is $72,523.
The Home Value To Income in Parkville is 2.9x.
The Rent To Monthly Income in Parkville is 0.21x.
| Statistic | Parkville | Maryland | United States |
|---|---|---|---|
| Median Home Value | $213,800 | $338,500 | $244,900 |
| Median Rent | $1,291 | $1,485 | $1,163 |
| Median Income | $72,523 | $91,431 | $69,021 |
| Home Value To Income | 2.9x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.21x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Parkville, MD Costs By Category
Detailed Parkville Services Costs Vs. Maryland
Detailed Parkville Groceries Costs Vs. Maryland
Detailed Parkville Health Costs Vs. Maryland
Detailed Parkville Transportation Costs Vs. Maryland
Detailed Parkville Utilities Costs Vs. Maryland
Parkville SnackAbility
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Cost Of Living In Cities Around Parkville
The cost of living varies in the cities and towns around Parkville. Here's a quick look at the cost of living in the most populous nearby places:
Towson, MD has a cost of living index of 123, 1.1x Parkville.
Bel Air South, MD has a cost of living index of 115, 1.1x Parkville.
Severn, MD has a cost of living index of 127, 1.2x Parkville.
| City | Population | Cost Of Living | Vs. Parkville |
|---|---|---|---|
| Towson, MD | 59,014 | 123 | 1.1x |
| Bel Air South, MD | 56,928 | 115 | 1.1x |
| Severn, MD | 53,955 | 127 | 1.2x |
| Pasadena, MD | 31,583 | 122 | 1.1x |
| Bel Air North, MD | 30,969 | 124 | 1.2x |
| Carney, MD | 29,873 | 114 | 1.1x |
| Perry Hall, MD | 29,165 | 114 | 1.1x |
| Ilchester, MD | 27,513 | 133 | 1.2x |
| Elkridge, MD | 24,115 | 127 | 1.2x |
| Rosedale, MD | 20,296 | 105 | 1.0x |
