Cost of living in Timonium 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 Timonium 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 Timonium is 133, with 100 being the average.
The cost of living index in Timonium is 1.3x higher than the national average.
Timonium ranks as the #139 cheapest in Maryland out of 188.
Timonium ranks as the #5,359 cheapest out of 6,412 in the US.
The median home value in Timonium is $402,400.
The median income in Timonium is $117,574.
According to the most recent data on the cost of living, Timonium has an overall cost of living index of 133, which is 1.3x higher than the national index of 100.
Compared to Maryland, Timonium has a cost of living index that's 1.1x higher than Maryland's index of 120.
The standard of living in Timonium ranks as #139 most affordable out of the 188 places we measured in Maryland. By definition, that implies Timonium ranks as the #49 most expensive place in the Old Line State.
For more reading on life in Timonium, check out:
Six factors go into calculating the cost of living index in Timonium. Here is how it fairs on each of the criteria:
The Services index in Timonium is 107.
The Groceries index in Timonium is 113.
The Health index in Timonium is 85.
The Housing index in Timonium is 195.
The Transportation index in Timonium is 102.
The Utilities index in Timonium is 106.
|Living Expense||Timonium||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 Timonium is $402,400.
The Median Rent in Timonium is $1,437.
The Median Income in Timonium is $117,574.
The Home Value To Income in Timonium is 3.4x.
The Rent To Monthly Income in Timonium is 0.15x.
|Median Home Value||$402,400||$338,500||$244,900|
|Home Value To Income||3.4x||3.7x||3.5x|
|Rent To Monthly Income||0.15x||0.19x||0.2x|
The cost of living varies in the cities and towns around Timonium. Here's a quick look at the cost of living in the most populous nearby places:
Towson, MD has a cost of living index of 123, 0.9x Timonium.
Bel Air South, MD has a cost of living index of 115, 0.9x Timonium.
Pikesville, MD has a cost of living index of 123, 0.9x Timonium.
|City||Population||Cost Of Living||Vs. Timonium|
|Bel Air South, MD||56,928||115||0.9x|
|Bel Air North, MD||30,969||124||0.9x|
|Perry Hall, MD||29,165||114||0.9x|