Montgomery Village, MD Cost Of Living
Cost Of Living In Montgomery Village, MD Summary
Cost of living in Montgomery Village 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 Montgomery Village 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 Montgomery Village is 124, with 100 being the average.
The cost of living index in Montgomery Village is 1.2x higher than the national average.
Montgomery Village ranks as the #82 cheapest in Maryland out of 194.
Montgomery Village ranks as the #4,654 cheapest out of 6,489 in the US.
The median home value in Montgomery Village is $388,465.
The median income in Montgomery Village is $96,487.
Table Of Contents
Montgomery Village's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Montgomery Village, MD?
According to the most recent data on the cost of living, Montgomery Village has an overall cost of living index of 124, which is 1.2x higher than the national index of 100.
Compared to Maryland, Montgomery Village has a cost of living index that's 1.0x higher than Maryland's index of 121.
The standard of living in Montgomery Village ranks as #82 most affordable out of the 194 places we measured in Maryland. By definition, that implies Montgomery Village ranks as the #112 most expensive place in the Old Line State.
For more reading on life in Montgomery Village, check out:
In Maryland
In America
Montgomery Village Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Montgomery Village. Here is how it fairs on each of the criteria:
The Services index in Montgomery Village is 109.
The Groceries index in Montgomery Village is 109.
The Health index in Montgomery Village is 98.
The Housing index in Montgomery Village is 172.
The Transportation index in Montgomery Village is 94.
The Utilities index in Montgomery Village is 112.
| Living Expense | Montgomery Village | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 124 | 121 | 100 | |
| Services | 109 | 105 | 100 | |
| Groceries | 109 | 107 | 100 | |
| Health | 98 | 96 | 100 | |
| Housing | 172 | 150 | 100 | |
| Transportation | 94 | 99 | 100 | |
| Utilities | 112 | 113 | 100 | |
Montgomery Village, 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 2019-2023. The key points are:
The Median Home Value in Montgomery Village is $388,465.
The Median Rent in Montgomery Village is $1,883.
The Median Income in Montgomery Village is $96,487.
The Home Value To Income in Montgomery Village is 4.0x.
The Rent To Monthly Income in Montgomery Village is 0.23x.
| Statistic | Montgomery Village | Maryland | United States |
|---|---|---|---|
| Median Home Value | $388,465 | $427,628 | $303,400 |
| Median Rent | $1,883 | $1,662 | $1,348 |
| Median Income | $96,487 | $101,652 | $78,538 |
| Home Value To Income | 4.0x | 4.2x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Montgomery Village, MD Costs By Category
Detailed Montgomery Village Services Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| Shampoo | $1.51 | $1.28 |
| Movie | $15.69 | $12.13 |
| Bowling | $24.83 | $18 |
| Haircut | $26.11 | $24.26 |
| Beauty Salon | $70.08 | $45.56 |
Detailed Montgomery Village Groceries Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| Ground Beef | $6.24 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.78 | $4.67 |
| Potatoes | $5.49 | $4.93 |
| Pizza | $12.56 | $12.09 |
| Beer | $11.1 | $10.41 |
| Toothpaste | $3.81 | $3.7 |
Detailed Montgomery Village Health Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| Optometrist | $92.0 | $125.68 |
| Doctor | $135.03 | $135.78 |
| Dentist | $117.67 | $113.29 |
Detailed Montgomery Village Transportation Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| Gasoline | $3.25 | $3.46 |
| Tire Balancing | $59.0 | $59.92 |
Detailed Montgomery Village Utilities Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| All Electricity | $222.47 | $193.99 |
| Phone | $197.37 | $192.25 |
Montgomery Village SnackAbility
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