Before you decide to relocate to Maryland, it’s important to research the exact cost of living around the state. And that’s what we’re going to help you do.
These are the places in Maryland that cost a pretty penny — the most expensive cities in the state.
We used Saturday Night Science to compare the 2018-2022 American Community Survey on cost of living for the 41 places in Maryland with more than 5,000 people.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Maryland for 2024.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Most Expensive Places To Live In Maryland For 2024
What’s the most expensive place to live in Maryland? Well, HomeSnacks crunched the numbers and discovered that Takoma Park is the most expensive place to live in Maryland.
Cumberland (the cheapest place to live in Maryland) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Maryland and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Maryland For 2024
/10
Population: 17,542
Cost Of Living Index: 150
Median Income: $95,316
Average Home Price: $667,796
Home Price To Income Ratio: 7.0x
More on Takoma Park: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Takoma Park is 150. The median income in Takoma Park comes in at $95,316 and the average home value is $667,796 for 2024.
/10
Population: 67,142
Cost Of Living Index: 149
Median Income: $122,470
Average Home Price: $606,807
Home Price To Income Ratio: 5.0x
More on Rockville: Data | Cost Of Living | Real Estate
The overall cost of living in Rockville is 149. The median income in Rockville comes in at $122,470 and the average home value is $606,807 for 2024.
/10
Population: 5,686
Cost Of Living Index: 140
Median Income: $215,025
Average Home Price: $664,155
Home Price To Income Ratio: 3.1x
More on Poolesville: Data | Cost Of Living | Real Estate
The overall cost of living in Poolesville is 140. The median income in Poolesville comes in at $215,025 and the average home value is $664,155 for 2024.
/10
Population: 9,667
Cost Of Living Index: 134
Median Income: $148,779
Average Home Price: $575,869
Home Price To Income Ratio: 3.9x
More on Mount Airy: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Mount Airy is 134. The median income in Mount Airy comes in at $148,779 and the average home value is $575,869 for 2024.
/10
Population: 69,016
Cost Of Living Index: 132
Median Income: $104,544
Average Home Price: $498,395
Home Price To Income Ratio: 4.8x
More on Gaithersburg: Data | Cost Of Living | Real Estate
The overall cost of living in Gaithersburg is 132. The median income in Gaithersburg comes in at $104,544 and the average home value is $498,395 for 2024.
/10
Population: 57,922
Cost Of Living Index: 132
Median Income: $138,797
Average Home Price: $495,660
Home Price To Income Ratio: 3.6x
More on Bowie: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Bowie is 132. The median income in Bowie comes in at $138,797 and the average home value is $495,660 for 2024.
/10
Population: 6,358
Cost Of Living Index: 132
Median Income: $130,175
Average Home Price: $432,240
Home Price To Income Ratio: 3.3x
More on Chesapeake Beach: Data | Cost Of Living | Real Estate
The overall cost of living in Chesapeake Beach is 132. The median income in Chesapeake Beach comes in at $130,175 and the average home value is $432,240 for 2024.
/10
Population: 40,719
Cost Of Living Index: 131
Median Income: $97,219
Average Home Price: $571,003
Home Price To Income Ratio: 5.9x
More on Annapolis: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Annapolis is 131. The median income in Annapolis comes in at $97,219 and the average home value is $571,003 for 2024.
/10
Population: 6,132
Cost Of Living Index: 126
Median Income: $119,625
Average Home Price: $468,015
Home Price To Income Ratio: 3.9x
More on Cheverly: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Cheverly is 126. The median income in Cheverly comes in at $119,625 and the average home value is $468,015 for 2024.
/10
Population: 10,283
Cost Of Living Index: 125
Median Income: $117,065
Average Home Price: $458,131
Home Price To Income Ratio: 3.9x
More on La Plata: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in La Plata is 125. The median income in La Plata comes in at $117,065 and the average home value is $458,131 for 2024.
Methodology: How We Determined The Most Expensive Places To Live In The Old Line State For 2024
The two most important things to think about when it comes to being able to afford a city in Maryland are:
- How much money do I make?
- How much do I have to spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing, it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2018-2022 around incomes and costs. They are:
- Overall Cost Of Living Index
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
You can then compare these metrics in each of the places in Maryland to figure out which is the most expensive.
You are left with a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index to rank all of the 41 places in Maryland that have more than 5,000 people.
The place with the highest cost of living in Maryland according to the data is Takoma Park. We updated this article for 2024. This article is our tenth time ranking the most expensive places to live in Maryland.
Summary: Taking A Chunk Out Of Your Paycheck In Maryland For 2024
Well, there you have it, the places in Maryland that have the highest cost of living, with Takoma Park ranking as the most expensive city in the Old Line State.
The most expensive cities in Maryland are Takoma Park, Rockville, Poolesville, Mount Airy, Gaithersburg, Bowie, Chesapeake Beach, Annapolis, Cheverly, and La Plata.
Here’s a look at the most affordable cities in Maryland according to the data:
- Cumberland
- Hagerstown
- Cambridge
For more Maryland reading, check out:
- Best Places To Live In Maryland
- Cheapest Places To Live In Maryland
- Most Dangerous Cities In Maryland
- Best Places To Raise A Family In Maryland
- Safest Places In Maryland
- Worst Places To Live In Maryland
Most Expensive Cities In Maryland
| Rank | City | Cost Of Living | Population | Median Income | Average Home Price | Home/Income Ratio |
|---|---|---|---|---|---|---|
| 1 | Takoma Park | 150 | 17,542 | $95,316 | $667,796 | 7.0x |
| 2 | Rockville | 149 | 67,142 | $122,470 | $606,807 | 5.0x |
| 3 | Poolesville | 140 | 5,686 | $215,025 | $664,155 | 3.1x |
| 4 | Mount Airy | 134 | 9,667 | $148,779 | $575,869 | 3.9x |
| 5 | Gaithersburg | 132 | 69,016 | $104,544 | $498,395 | 4.8x |
| 6 | Bowie | 132 | 57,922 | $138,797 | $495,660 | 3.6x |
| 7 | Chesapeake Beach | 132 | 6,358 | $130,175 | $432,240 | 3.3x |
| 8 | Annapolis | 131 | 40,719 | $97,219 | $571,003 | 5.9x |
| 9 | Cheverly | 126 | 6,132 | $119,625 | $468,015 | 3.9x |
| 10 | La Plata | 125 | 10,283 | $117,065 | $458,131 | 3.9x |
| 11 | Walkersville | 125 | 6,239 | $138,190 | $425,026 | 3.1x |
| 12 | Mount Rainier | 123 | 8,262 | $64,170 | $471,063 | 7.3x |
| 13 | College Park | 122 | 34,416 | $76,973 | $418,488 | 5.4x |
| 14 | Laurel | 121 | 29,581 | $92,035 | $443,952 | 4.8x |
| 15 | Hyattsville | 121 | 20,851 | $90,329 | $396,591 | 4.4x |
| 16 | Riverdale Park | 120 | 7,284 | $105,250 | $457,160 | 4.3x |
| 17 | Frederick | 118 | 78,390 | $89,981 | $434,950 | 4.8x |
| 18 | New Carrollton | 117 | 13,580 | $76,386 | $385,956 | 5.1x |
| 19 | Glenarden | 117 | 6,335 | $100,179 | $412,112 | 4.1x |
| 20 | Manchester | 116 | 5,403 | $103,629 | $425,271 | 4.1x |
| 21 | Greenbelt | 115 | 24,646 | $82,019 | $273,558 | 3.3x |
| 22 | Havre de Grace | 114 | 14,743 | $95,025 | $376,608 | 4.0x |
| 23 | Ocean City | 114 | 6,879 | $62,401 | $449,391 | 7.2x |
| 24 | Easton | 113 | 17,118 | $75,198 | $415,598 | 5.5x |
| 25 | Bel Air | 113 | 10,630 | $66,950 | $432,116 | 6.5x |
| 26 | Taneytown | 113 | 7,234 | $78,333 | $362,419 | 4.6x |
| 27 | Bladensburg | 111 | 9,574 | $58,619 | $315,966 | 5.4x |
| 28 | Thurmont | 111 | 6,313 | $88,243 | $355,126 | 4.0x |
| 29 | Hampstead | 111 | 6,278 | $87,454 | $397,582 | 4.5x |
| 30 | District Heights | 111 | 5,905 | $84,929 | $327,778 | 3.9x |
| 31 | Westminster | 110 | 20,099 | $71,286 | $423,805 | 5.9x |
| 32 | Elkton | 109 | 15,830 | $58,593 | $327,018 | 5.6x |
| 33 | Aberdeen | 107 | 16,422 | $74,555 | $314,123 | 4.2x |
| 34 | Baltimore | 104 | 584,548 | $58,349 | $179,189 | 3.1x |
| 35 | Brunswick | 103 | 7,781 | $104,700 | $361,416 | 3.5x |
| 36 | Fruitland | 101 | 5,603 | $61,205 | $227,517 | 3.7x |
| 37 | Frostburg | 100 | 7,118 | $44,658 | $164,894 | 3.7x |
| 38 | Salisbury | 98 | 32,960 | $53,309 | $241,424 | 4.5x |
| 39 | Cambridge | 98 | 13,058 | $44,114 | $242,774 | 5.5x |
| 40 | Hagerstown | 97 | 43,374 | $48,481 | $260,493 | 5.4x |
| 41 | Cumberland | 88 | 19,041 | $45,915 | $139,025 | 3.0x |