Silver Spring, MD Cost Of Living
Cost Of Living In Silver Spring, MD Summary
Cost of living in Silver Spring 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 Silver Spring 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 Silver Spring is 152, with 100 being the average.
The cost of living index in Silver Spring is 1.5x higher than the national average.
Silver Spring ranks as the #172 cheapest in Maryland out of 194.
Silver Spring ranks as the #5,746 cheapest out of 6,489 in the US.
The median home value in Silver Spring is $540,905.
The median income in Silver Spring is $98,880.
Table Of Contents
Silver Spring's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Silver Spring, MD?
According to the most recent data on the cost of living, Silver Spring has an overall cost of living index of 152, which is 1.5x higher than the national index of 100.
Compared to Maryland, Silver Spring has a cost of living index that's 1.3x higher than Maryland's index of 121.
The standard of living in Silver Spring ranks as #172 most affordable out of the 194 places we measured in Maryland. By definition, that implies Silver Spring ranks as the #22 most expensive place in the Old Line State.
For more reading on life in Silver Spring, check out:
In Maryland
In America
Silver Spring Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Silver Spring. Here is how it fairs on each of the criteria:
The Services index in Silver Spring is 110.
The Groceries index in Silver Spring is 110.
The Health index in Silver Spring is 98.
The Housing index in Silver Spring is 251.
The Transportation index in Silver Spring is 95.
The Utilities index in Silver Spring is 112.
| Living Expense | Silver Spring | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 152 | 121 | 100 | |
| Services | 110 | 105 | 100 | |
| Groceries | 110 | 107 | 100 | |
| Health | 98 | 96 | 100 | |
| Housing | 251 | 150 | 100 | |
| Transportation | 95 | 99 | 100 | |
| Utilities | 112 | 113 | 100 | |
Silver Spring, 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 Silver Spring is $540,905.
The Median Rent in Silver Spring is $1,899.
The Median Income in Silver Spring is $98,880.
The Home Value To Income in Silver Spring is 5.5x.
The Rent To Monthly Income in Silver Spring is 0.23x.
| Statistic | Silver Spring | Maryland | United States |
|---|---|---|---|
| Median Home Value | $540,905 | $427,628 | $303,400 |
| Median Rent | $1,899 | $1,662 | $1,348 |
| Median Income | $98,880 | $101,652 | $78,538 |
| Home Value To Income | 5.5x | 4.2x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Silver Spring, MD Costs By Category
Detailed Silver Spring Services Costs Vs. Maryland
| Item | Silver Spring | 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 Silver Spring Groceries Costs Vs. Maryland
| Item | Silver Spring | 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 Silver Spring Health Costs Vs. Maryland
| Item | Silver Spring | Maryland |
|---|---|---|
| Optometrist | $92.0 | $125.68 |
| Doctor | $135.03 | $135.78 |
| Dentist | $117.67 | $113.29 |
Detailed Silver Spring Transportation Costs Vs. Maryland
| Item | Silver Spring | Maryland |
|---|---|---|
| Gasoline | $3.25 | $3.46 |
| Tire Balancing | $59.0 | $59.92 |
Detailed Silver Spring Utilities Costs Vs. Maryland
| Item | Silver Spring | Maryland |
|---|---|---|
| All Electricity | $222.47 | $193.99 |
| Phone | $197.37 | $192.25 |
Silver Spring SnackAbility
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Cost Of Living In Cities Around Silver Spring
The cost of living varies in the cities and towns around Silver Spring. 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 153, 1.0x Silver Spring.
North Laurel, MD has a cost of living index of 132, 0.9x Silver Spring.
North Potomac, MD has a cost of living index of 172, 1.1x Silver Spring.
| City | Population | Cost Of Living | Vs. Silver Spring |
|---|---|---|---|
| Olney, MD | 36,000 | 153 | 1.0x |
| North Laurel, MD | 25,201 | 132 | 0.9x |
| North Potomac, MD | 23,994 | 172 | 1.1x |
| Langley Park, MD | 22,057 | 121 | 0.8x |
| Takoma Park, MD | 17,522 | 160 | 1.1x |
| Adelphi, MD | 17,210 | 127 | 0.8x |
| Kemp Mill, MD | 14,437 | 145 | 1.0x |
| Colesville, MD | 14,075 | 140 | 0.9x |
| Travilah, MD | 11,128 | 224 | 1.5x |
| Chevy Chase, MD | 9,484 | 257 | 1.7x |
