Cost of living in North Potomac 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 North Potomac 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 North Potomac is 167, with 100 being the average.
The cost of living index in North Potomac is 1.7x higher than the national average.
North Potomac ranks as the #182 cheapest in Maryland out of 188.
North Potomac ranks as the #6,093 cheapest out of 6,412 in the US.
The median home value in North Potomac is $686,800.
The median income in North Potomac is $174,591.
According to the most recent data on the cost of living, North Potomac has an overall cost of living index of 167, which is 1.7x higher than the national index of 100.
Compared to Maryland, North Potomac has a cost of living index that's 1.4x higher than Maryland's index of 120.
The standard of living in North Potomac ranks as #182 most affordable out of the 188 places we measured in Maryland. By definition, that implies North Potomac ranks as the #6 most expensive place in the Old Line State.
For more reading on life in North Potomac, check out:
Six factors go into calculating the cost of living index in North Potomac. Here is how it fairs on each of the criteria:
The Services index in North Potomac is 116.
The Groceries index in North Potomac is 115.
The Health index in North Potomac is 89.
The Housing index in North Potomac is 304.
The Transportation index in North Potomac is 117.
The Utilities index in North Potomac is 109.
|Living Expense||North Potomac||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 North Potomac is $686,800.
The Median Rent in North Potomac is $2,323.
The Median Income in North Potomac is $174,591.
The Home Value To Income in North Potomac is 3.9x.
The Rent To Monthly Income in North Potomac is 0.16x.
|Statistic||North Potomac||Maryland||United States|
|Median Home Value||$686,800||$338,500||$244,900|
|Home Value To Income||3.9x||3.7x||3.5x|
|Rent To Monthly Income||0.16x||0.19x||0.2x|
The cost of living varies in the cities and towns around North Potomac. Here's a quick look at the cost of living in the most populous nearby places:
Germantown, MD has a cost of living index of 130, 0.8x North Potomac.
Gaithersburg, MD has a cost of living index of 134, 0.8x North Potomac.
Rockville, MD has a cost of living index of 154, 0.9x North Potomac.
|City||Population||Cost Of Living||Vs. North Potomac|
|Kemp Mill, MD||14,509||141||0.8x|