Silver Spring, MD Cost Of Living

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

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 147, 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 #167 cheapest in Maryland out of 188.

  • Silver Spring ranks as the #5,771 cheapest out of 6,412 in the US.

  • The median home value in Silver Spring is $537,600.

  • The median income in Silver Spring is $91,970.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
147
Silver Spring's Overall Cost Of Living
1.5x
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 147, which is 1.5x higher than the national index of 100.

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

The standard of living in Silver Spring ranks as #167 most affordable out of the 188 places we measured in Maryland. By definition, that implies Silver Spring ranks as the #21 most expensive place in the Old Line State.

For more reading on life in Silver Spring, check out:

167 out of 188
In Maryland
5,771 out of 6,412
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 116.

  • The Groceries index in Silver Spring is 116.

  • The Health index in Silver Spring is 86.

  • The Housing index in Silver Spring is 223.

  • The Transportation index in Silver Spring is 116.

  • The Utilities index in Silver Spring is 113.

Living Expense Silver Spring Maryland National Average
Overall 147 120 100
Services 116 109 100
Groceries 116 108 100
Health 86 92 100
Housing 223 156 100
Transportation 116 100 100
Utilities 113 108 100
For more reading on cost of living around Maryland, check out:
Silver Spring Cost of Living Vs. MD

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 2017-2021. The key points are:

  • The Median Home Value in Silver Spring is $537,600.

  • The Median Rent in Silver Spring is $1,736.

  • The Median Income in Silver Spring is $91,970.

  • The Home Value To Income in Silver Spring is 5.8x.

  • The Rent To Monthly Income in Silver Spring is 0.23x.

Statistic Silver Spring Maryland United States
Median Home Value $537,600 $338,500 $244,900
Median Rent $1,736 $1,485 $1,163
Median Income $91,970 $91,431 $69,021
Home Value To Income 5.8x 3.7x 3.5x
Rent To Monthly Income 0.23x 0.19x 0.2x
Search Homes For Sale In Silver Spring, MD
$537,600
Median Home Value
$1,736
Median Rent
$91,970
Median Income

Silver Spring, MD Costs By Category

Detailed Silver Spring Services Costs Vs. Maryland

Item Silver Spring 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 Silver Spring Groceries Costs Vs. Maryland

Item Silver Spring 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 Silver Spring Health Costs Vs. Maryland

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

Detailed Silver Spring Transportation Costs Vs. Maryland

Item Silver Spring Maryland
Gasoline $2.44 $2.22
Tire Balancing $62.0 $50.07

Detailed Silver Spring Utilities Costs Vs. Maryland

Item Silver Spring Maryland
All Electricity $193.98 $167.67
Phone $190.63 $175.64

Silver Spring SnackAbility

7
/10
Overall SnackAbility
Jobs
8/10
Housing
9.5
Affordability
4
Diversity
10
Safety
N/A
Amenities
10
Education
8
Commute
3

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 150, 1.0x Silver Spring.

  • North Potomac, MD has a cost of living index of 167, 1.1x Silver Spring.

  • North Laurel, MD has a cost of living index of 129, 0.9x Silver Spring.

City Population Cost Of Living Vs. Silver Spring
Olney, MD 35,815 150 1.0x
North Potomac, MD 24,449 167 1.1x
North Laurel, MD 24,233 129 0.9x
Langley Park, MD 20,769 119 0.8x
Takoma Park, MD 17,610 151 1.0x
Adelphi, MD 16,977 123 0.8x
Kemp Mill, MD 14,509 141 1.0x
Colesville, MD 14,468 140 1.0x
Travilah, MD 11,052 227 1.5x
Chevy Chase, MD 9,889 204 1.4x

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