Essex, MD Cost Of Living
Cost Of Living In Essex, MD Summary
Cost of living in Essex 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 Essex 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 Essex is 103, with 100 being the average.
The cost of living index in Essex is 1.0x higher than the national average.
Essex ranks as the #14 cheapest in Maryland out of 188.
Essex ranks as the #3,487 cheapest out of 6,412 in the US.
The median home value in Essex is $205,500.
The median income in Essex is $59,914.
Table Of Contents
Essex's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Essex, MD?
According to the most recent data on the cost of living, Essex has an overall cost of living index of 103, which is 1.0x higher than the national index of 100.
Compared to Maryland, Essex has a cost of living index that's 0.9x lower than Maryland's index of 120.
The standard of living in Essex ranks as #14 most affordable out of the 188 places we measured in Maryland. By definition, that implies Essex ranks as the #174 most expensive place in the Old Line State.
For more reading on life in Essex, check out:
- Living In Essex
- Search Homes For Sale In Essex, MD
In Maryland
In America
Essex Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Essex. Here is how it fairs on each of the criteria:
The Services index in Essex is 106.
The Groceries index in Essex is 114.
The Health index in Essex is 84.
The Housing index in Essex is 98.
The Transportation index in Essex is 101.
The Utilities index in Essex is 104.
| Living Expense | Essex | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 103 | 120 | 100 | |
| Services | 106 | 109 | 100 | |
| Groceries | 114 | 108 | 100 | |
| Health | 84 | 92 | 100 | |
| Housing | 98 | 156 | 100 | |
| Transportation | 101 | 100 | 100 | |
| Utilities | 104 | 108 | 100 | |
Essex, 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 Essex is $205,500.
The Median Rent in Essex is $1,128.
The Median Income in Essex is $59,914.
The Home Value To Income in Essex is 3.4x.
The Rent To Monthly Income in Essex is 0.23x.
| Statistic | Essex | Maryland | United States |
|---|---|---|---|
| Median Home Value | $205,500 | $338,500 | $244,900 |
| Median Rent | $1,128 | $1,485 | $1,163 |
| Median Income | $59,914 | $91,431 | $69,021 |
| Home Value To Income | 3.4x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Essex, MD Costs By Category
Detailed Essex Services Costs Vs. Maryland
Detailed Essex Groceries Costs Vs. Maryland
Detailed Essex Health Costs Vs. Maryland
Detailed Essex Transportation Costs Vs. Maryland
Detailed Essex Utilities Costs Vs. Maryland
Essex SnackAbility
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Cost Of Living In Cities Around Essex
The cost of living varies in the cities and towns around Essex. Here's a quick look at the cost of living in the most populous nearby places:
Dundalk, MD has a cost of living index of 98, 1.0x Essex.
Bel Air South, MD has a cost of living index of 115, 1.1x Essex.
Severna Park, MD has a cost of living index of 146, 1.4x Essex.
| City | Population | Cost Of Living | Vs. Essex |
|---|---|---|---|
| Dundalk, MD | 66,426 | 98 | 1.0x |
| Bel Air South, MD | 56,928 | 115 | 1.1x |
| Severna Park, MD | 39,108 | 146 | 1.4x |
| Bel Air North, MD | 30,969 | 124 | 1.2x |
| Parkville, MD | 30,783 | 107 | 1.0x |
| Middle River, MD | 30,606 | 101 | 1.0x |
| Perry Hall, MD | 29,165 | 114 | 1.1x |
| Ilchester, MD | 27,513 | 133 | 1.3x |
| Arnold, MD | 25,056 | 134 | 1.3x |
| Elkridge, MD | 24,115 | 127 | 1.2x |
