Cost of living in Annapolis Neck 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 Annapolis Neck 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 Annapolis Neck is 153, with 100 being the average.
The cost of living index in Annapolis Neck is 1.5x higher than the national average.
Annapolis Neck ranks as the #176 cheapest in Maryland out of 188.
Annapolis Neck ranks as the #5,895 cheapest out of 6,412 in the US.
The median home value in Annapolis Neck is $652,200.
The median income in Annapolis Neck is $146,220.
According to the most recent data on the cost of living, Annapolis Neck has an overall cost of living index of 153, which is 1.5x higher than the national index of 100.
Compared to Maryland, Annapolis Neck has a cost of living index that's 1.3x higher than Maryland's index of 120.
The standard of living in Annapolis Neck ranks as #176 most affordable out of the 188 places we measured in Maryland. By definition, that implies Annapolis Neck ranks as the #12 most expensive place in the Old Line State.
For more reading on life in Annapolis Neck, check out:
Six factors go into calculating the cost of living index in Annapolis Neck. Here is how it fairs on each of the criteria:
The Services index in Annapolis Neck is 106.
The Groceries index in Annapolis Neck is 114.
The Health index in Annapolis Neck is 85.
The Housing index in Annapolis Neck is 263.
The Transportation index in Annapolis Neck is 99.
The Utilities index in Annapolis Neck is 105.
|Living Expense||Annapolis Neck||Maryland||National Average|
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 Annapolis Neck is $652,200.
The Median Rent in Annapolis Neck is $2,317.
The Median Income in Annapolis Neck is $146,220.
The Home Value To Income in Annapolis Neck is 4.5x.
The Rent To Monthly Income in Annapolis Neck is 0.19x.
|Statistic||Annapolis Neck||Maryland||United States|
|Median Home Value||$652,200||$338,500||$244,900|
|Home Value To Income||4.5x||3.7x||3.5x|
|Rent To Monthly Income||0.19x||0.19x||0.2x|
The cost of living varies in the cities and towns around Annapolis Neck. Here's a quick look at the cost of living in the most populous nearby places:
Bowie, MD has a cost of living index of 134, 0.9x Annapolis Neck.
Annapolis, MD has a cost of living index of 129, 0.8x Annapolis Neck.
Severna Park, MD has a cost of living index of 146, 1.0x Annapolis Neck.
|City||Population||Cost Of Living||Vs. Annapolis Neck|
|Severna Park, MD||39,108||146||1.0x|
|Lake Shore, MD||19,388||127||0.8x|
|Riviera Beach, MD||12,012||119||0.8x|