Laurel, MD Cost Of Living
Cost Of Living In Laurel, MD Summary
Cost of living in Laurel 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 Laurel 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 Laurel is 122, with 100 being the average.
The cost of living index in Laurel is 1.2x higher than the national average.
Laurel ranks as the #92 cheapest in Maryland out of 188.
Laurel ranks as the #4,905 cheapest out of 6,412 in the US.
The median home value in Laurel is $296,300.
The median income in Laurel is $85,615.
Table Of Contents
Laurel's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Laurel, MD?
According to the most recent data on the cost of living, Laurel has an overall cost of living index of 122, which is 1.2x higher than the national index of 100.
Compared to Maryland, Laurel has a cost of living index that's 1.0x higher than Maryland's index of 120.
The standard of living in Laurel ranks as #92 most affordable out of the 188 places we measured in Maryland. By definition, that implies Laurel ranks as the #96 most expensive place in the Old Line State.
For more reading on life in Laurel, check out:
- Living In Laurel
- Laurel Crime Report
- Search Homes For Sale In Laurel, MD
In Maryland
In America
Laurel Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Laurel. Here is how it fairs on each of the criteria:
The Services index in Laurel is 120.
The Groceries index in Laurel is 114.
The Health index in Laurel is 93.
The Housing index in Laurel is 132.
The Transportation index in Laurel is 107.
The Utilities index in Laurel is 115.
| Living Expense | Laurel | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 122 | 120 | 100 | |
| Services | 120 | 109 | 100 | |
| Groceries | 114 | 108 | 100 | |
| Health | 93 | 92 | 100 | |
| Housing | 132 | 156 | 100 | |
| Transportation | 107 | 100 | 100 | |
| Utilities | 115 | 108 | 100 | |
Laurel, 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 Laurel is $296,300.
The Median Rent in Laurel is $1,716.
The Median Income in Laurel is $85,615.
The Home Value To Income in Laurel is 3.5x.
The Rent To Monthly Income in Laurel is 0.24x.
| Statistic | Laurel | Maryland | United States |
|---|---|---|---|
| Median Home Value | $296,300 | $338,500 | $244,900 |
| Median Rent | $1,716 | $1,485 | $1,163 |
| Median Income | $85,615 | $91,431 | $69,021 |
| Home Value To Income | 3.5x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.24x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Laurel, MD Costs By Category
Detailed Laurel Services Costs Vs. Maryland
Detailed Laurel Groceries Costs Vs. Maryland
Detailed Laurel Health Costs Vs. Maryland
Detailed Laurel Transportation Costs Vs. Maryland
Detailed Laurel Utilities Costs Vs. Maryland
Laurel SnackAbility
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Cost Of Living In Cities Around Laurel
The cost of living varies in the cities and towns around Laurel. Here's a quick look at the cost of living in the most populous nearby places:
Olney, MD has a cost of living index of 150, 1.2x Laurel.
South Laurel, MD has a cost of living index of 130, 1.1x Laurel.
Ilchester, MD has a cost of living index of 133, 1.1x Laurel.
| City | Population | Cost Of Living | Vs. Laurel |
|---|---|---|---|
| Olney, MD | 35,815 | 150 | 1.2x |
| South Laurel, MD | 27,998 | 130 | 1.1x |
| Ilchester, MD | 27,513 | 133 | 1.1x |
| Fairland, MD | 25,324 | 129 | 1.1x |
| North Laurel, MD | 24,233 | 129 | 1.1x |
| Kemp Mill, MD | 14,509 | 141 | 1.2x |
| Colesville, MD | 14,468 | 140 | 1.1x |
| Scaggsville, MD | 10,658 | 156 | 1.3x |
| Burtonsville, MD | 10,457 | 136 | 1.1x |
| Chevy Chase, MD | 9,889 | 204 | 1.7x |
