Cost of living in Elkridge 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 Elkridge 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 Elkridge is 127, with 100 being the average.
The cost of living index in Elkridge is 1.3x higher than the national average.
Elkridge ranks as the #118 cheapest in Maryland out of 188.
Elkridge ranks as the #5,140 cheapest out of 6,412 in the US.
The median home value in Elkridge is $371,200.
The median income in Elkridge is $119,856.
According to the most recent data on the cost of living, Elkridge has an overall cost of living index of 127, which is 1.3x higher than the national index of 100.
Compared to Maryland, Elkridge has a cost of living index that's 1.1x higher than Maryland's index of 120.
The standard of living in Elkridge ranks as #118 most affordable out of the 188 places we measured in Maryland. By definition, that implies Elkridge ranks as the #70 most expensive place in the Old Line State.
For more reading on life in Elkridge, check out:
Six factors go into calculating the cost of living index in Elkridge. Here is how it fairs on each of the criteria:
The Services index in Elkridge is 106.
The Groceries index in Elkridge is 113.
The Health index in Elkridge is 86.
The Housing index in Elkridge is 172.
The Transportation index in Elkridge is 101.
The Utilities index in Elkridge is 104.
|Living Expense||Elkridge||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 Elkridge is $371,200.
The Median Rent in Elkridge is $1,919.
The Median Income in Elkridge is $119,856.
The Home Value To Income in Elkridge is 3.1x.
The Rent To Monthly Income in Elkridge is 0.19x.
|Median Home Value||$371,200||$338,500||$244,900|
|Home Value To Income||3.1x||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 Elkridge. Here's a quick look at the cost of living in the most populous nearby places:
Columbia, MD has a cost of living index of 129, 1.0x Elkridge.
Severn, MD has a cost of living index of 127, 1.0x Elkridge.
Catonsville, MD has a cost of living index of 122, 1.0x Elkridge.
|City||Population||Cost Of Living||Vs. Elkridge|
|North Laurel, MD||24,233||129||1.0x|
|Kemp Mill, MD||14,509||141||1.1x|