Olney, MD Cost Of Living

Demographics | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Olney, MD Summary

Cost of living in Olney 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 Olney 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 Olney is 150, with 100 being the average.

  • The cost of living index in Olney is 1.5x higher than the national average.

  • Olney ranks as the #173 cheapest in Maryland out of 188.

  • Olney ranks as the #5,843 cheapest out of 6,412 in the US.

  • The median home value in Olney is $551,300.

  • The median income in Olney is $161,065.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
150
Olney's Overall Cost Of Living
1.5x
Higher Than The National Average

What is the cost of living in Olney, MD?

According to the most recent data on the cost of living, Olney has an overall cost of living index of 150, which is 1.5x higher than the national index of 100.

Compared to Maryland, Olney has a cost of living index that's 1.2x higher than Maryland's index of 120.

The standard of living in Olney ranks as #173 most affordable out of the 188 places we measured in Maryland. By definition, that implies Olney ranks as the #15 most expensive place in the Old Line State.

For more reading on life in Olney, check out:

173 out of 188
In Maryland
5,843 out of 6,412
In America

Olney Cost Of Living Vs. Maryland

Six factors go into calculating the cost of living index in Olney. Here is how it fairs on each of the criteria:

  • The Services index in Olney is 116.

  • The Groceries index in Olney is 116.

  • The Health index in Olney is 88.

  • The Housing index in Olney is 236.

  • The Transportation index in Olney is 113.

  • The Utilities index in Olney is 111.

Living Expense Olney Maryland National Average
Overall 150 120 100
Services 116 109 100
Groceries 116 108 100
Health 88 92 100
Housing 236 156 100
Transportation 113 100 100
Utilities 111 108 100
For more reading on cost of living around Maryland, check out:
Olney Cost of Living Vs. MD

Olney, 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 Olney is $551,300.

  • The Median Rent in Olney is $2,084.

  • The Median Income in Olney is $161,065.

  • The Home Value To Income in Olney is 3.4x.

  • The Rent To Monthly Income in Olney is 0.16x.

Statistic Olney Maryland United States
Median Home Value $551,300 $338,500 $244,900
Median Rent $2,084 $1,485 $1,163
Median Income $161,065 $91,431 $69,021
Home Value To Income 3.4x 3.7x 3.5x
Rent To Monthly Income 0.16x 0.19x 0.2x
Search Homes For Sale In Olney, MD
$551,300
Median Home Value
$2,084
Median Rent
$161,065
Median Income

Olney, MD Costs By Category

Detailed Olney Services Costs Vs. Maryland

Item Olney Maryland
Shampoo $1.43 $1.06
Movie $12.5 $10.68
Bowling $21.25 $14.67
Haircut $31.92 $18.62
Beauty Salon $63.67 $39.05

Detailed Olney Groceries Costs Vs. Maryland

Item Olney Maryland
Ground Beef $4.7 $4.22
Fried Chicken $1.75 $1.39
Milk $2.49 $2.05
Potatoes $3.99 $3.29
Pizza $11.99 $10.62
Beer $10.99 $9.38
Toothpaste $2.74 $2.34

Detailed Olney Health Costs Vs. Maryland

Item Olney Maryland
Optometrist $75.0 $108.57
Doctor $97.0 $116.17
Dentist $87.0 $99.13

Detailed Olney Transportation Costs Vs. Maryland

Item Olney Maryland
Gasoline $2.44 $2.22
Tire Balancing $62.0 $50.07

Detailed Olney Utilities Costs Vs. Maryland

Item Olney Maryland
All Electricity $193.98 $167.67
Phone $190.63 $175.64

Olney SnackAbility

7
/10
Overall SnackAbility
Jobs
9/10
Housing
9.5
Affordability
8
Diversity
9
Safety
N/A
Amenities
9
Education
9
Commute
4

Cost Of Living In Cities Around Olney

The cost of living varies in the cities and towns around Olney. Here's a quick look at the cost of living in the most populous nearby places:

  • Aspen Hill, MD has a cost of living index of 140, 0.9x Olney.

  • Ilchester, MD has a cost of living index of 133, 0.9x Olney.

  • Clarksburg, MD has a cost of living index of 153, 1.0x Olney.

City Population Cost Of Living Vs. Olney
Aspen Hill, MD 53,850 140 0.9x
Ilchester, MD 27,513 133 0.9x
Clarksburg, MD 27,354 153 1.0x
North Potomac, MD 24,449 167 1.1x
North Laurel, MD 24,233 129 0.9x
Redland, MD 17,965 140 0.9x
Cloverly, MD 16,473 146 1.0x
Glenmont, MD 15,795 139 0.9x
Kemp Mill, MD 14,509 141 0.9x
Colesville, MD 14,468 140 0.9x

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