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Everyone wants a home that mixes affordability with comfort and Maryland does this very well. Families love the Old Line State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in Maryland that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Maryland for 2023.
So where is the most expensive place to live in Maryland? That would be Mount Rainier.
the 2017-2021 American Community Survey for the 41 places in Maryland with more than 5,000 people.
Here are the 10 most expensive places to live in Maryland for 2023:
What's the most expensive place to live in Maryland? Well, HomeSnacks crunched the numbers and discovered that Mount Rainier is the most expensive place to live in Maryland.
So hopefully Cumberland (the cheapest place to live in Maryland) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Maryland and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Maryland For 2023
1. Mount Rainier
/10
Population: 8,290
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 7.2x (most expensive)
Income To Rent Ratio: 44.2x (4th most expensive)
More on Mount Rainier: Real Estate | Data | Photos
The median income in Mount Rainier comes in at $59,268 and the median home value is $427,800 for 2023.
2. College Park
/10
Population: 34,961
Rank Last Year: 2 (No Change)
Home Price To Income Ratio: 5.2x (6th most expensive)
Income To Rent Ratio: 42.9x (2nd most expensive)
More on College Park: Real Estate | Data | Photos
The median income in College Park comes in at $69,736 and the median home value is $359,300 for 2023.
3. Bladensburg
/10
Population: 9,591
Rank Last Year: 3 (No Change)
Home Price To Income Ratio: 5.6x (4th most expensive)
Income To Rent Ratio: 36.9x (most expensive)
More on Bladensburg: Real Estate | Data | Photos
The median income in Bladensburg comes in at $54,208 and the median home value is $302,200 for 2023.
4. Rockville
/10
Population: 67,095
Rank Last Year: 5 (Up 1)
Home Price To Income Ratio: 4.8x (8th most expensive)
Income To Rent Ratio: 58.2x (22nd most expensive)
More on Rockville: Real Estate | Data | Photos
The median income in Rockville comes in at $116,031 and the median home value is $554,800 for 2023.
5. Gaithersburg
/10
Population: 68,827
Rank Last Year: 4 (Down 2)
Home Price To Income Ratio: 4.4x (11th most expensive)
Income To Rent Ratio: 54.2x (17th most expensive)
More on Gaithersburg: Real Estate | Data | Photos
The median income in Gaithersburg comes in at $98,089 and the median home value is $427,400 for 2023.
6. Annapolis
/10
Population: 40,581
Rank Last Year: 8 (Up 2)
Home Price To Income Ratio: 4.7x (9th most expensive)
Income To Rent Ratio: 56.9x (2most expensive)
More on Annapolis: Real Estate | Data | Photos
The median income in Annapolis comes in at $92,026 and the median home value is $428,600 for 2023.
7. Takoma Park
/10
Population: 17,610
Rank Last Year: 6 (No Change)
Home Price To Income Ratio: 7.2x (2nd most expensive)
Income To Rent Ratio: 72.3x (3most expensive)
More on Takoma Park: Real Estate | Data | Photos
The median income in Takoma Park comes in at $86,644 and the median home value is $625,200 for 2023.
8. New Carrollton
/10
Population: 13,574
Rank Last Year: 10 (Up 2)
Home Price To Income Ratio: 4.2x (12th most expensive)
Income To Rent Ratio: 44.9x (6th most expensive)
More on New Carrollton: Real Estate | Data | Photos
The median income in New Carrollton comes in at $73,629 and the median home value is $312,800 for 2023.
9. Hyattsville
/10
Population: 20,790
Rank Last Year: 11 (Up 2)
Home Price To Income Ratio: 4.5x (10th most expensive)
Income To Rent Ratio: 54.9x (18th most expensive)
More on Hyattsville: Real Estate | Data | Photos
The median income in Hyattsville comes in at $84,763 and the median home value is $380,900 for 2023.
10. Cheste
/10
Population: 5,557
Rank Last Year: 6 (Down 4)
Home Price To Income Ratio: 6.0x (3rd most expensive)
Income To Rent Ratio: 46.3x (9th most expensive)
More on Cheste: Real Estate | Data
The median income in Cheste comes in at $44,665 and the median home value is $267,800 for 2023.
Methodology: How We Determined The Most Expensive Places To Live In The Old Line State For 2023
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2017-2021 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Maryland to figure out which is the most expensive.
What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 41 places in Maryland that have more than 5,000 people.
The place with the highest cost of living in Maryland according to the data is Mount Rainier. You can download the data here.
Summary: Taking A Chunk Out Of Your Paycheck In Maryland For 2023
Well there you have it, the places in Maryland that have the highest cost of living, with Mount Rainier ranking as the most expensive city in the Old Line State.
Here's a look at the most affordable cities in Maryland according to the data:
- Cumberland
- Brunswick
- Hampstead
For more Maryland reading, check out:
- Best Places To Live In Maryland
- Cheapest Places To Live In Maryland
- Most Dangerous Cities In Maryland
- Best Places To Raise A Family In Maryland
- Safest Places In Maryland
- Worst Places To Live In Maryland
Detailed List Of The Most Expensive Cities In Maryland
| Rank | City | ExpensiveScore |
|---|---|---|
| 1 | Mount Rainier | 3.33 |
| 2 | College Park | 7.0 |
| 3 | Bladensburg | 8.33 |
| 4 | Rockville | 10.67 |
| 5 | Gaithersburg | 11.33 |
| 6 | Annapolis | 11.33 |
| 7 | Takoma Park | 11.33 |
| 8 | New Carrollton | 12.33 |
| 9 | Hyattsville | 12.67 |
| 10 | Cheste | 13.33 |
| 11 | Ocean City | 13.67 |
| 12 | Cambridge | 16.67 |
| 13 | Riverdale Park | 17.67 |
| 14 | District Heights | 18.67 |
| 15 | Bel Air | 19.33 |
| 16 | Laurel | 20.33 |
| 17 | Cheverly | 20.33 |
| 18 | Westminster | 20.67 |
| 19 | Glenarden | 21.0 |
| 20 | Salisbury | 21.33 |
| 21 | Elkton | 22.0 |
| 22 | Frederick | 22.33 |
| 23 | Hagerstown | 22.67 |
| 24 | Easton | 22.67 |
| 25 | Greenbelt | 23.0 |
| 26 | Chesapeake Beach | 24.67 |
| 27 | Bowie | 25.33 |
| 28 | Baltimore | 25.67 |
| 29 | La Plata | 26.0 |
| 30 | Mount Airy | 27.33 |
| 31 | Thurmont | 28.0 |
| 32 | Havre De Grace | 28.0 |
| 33 | Walkersville | 28.33 |
| 34 | Poolesville | 28.67 |
| 35 | Fruitland | 29.0 |
| 36 | Taneytown | 29.67 |
| 37 | Frostburg | 31.67 |
| 38 | Aberdeen | 32.33 |
| 39 | Hampstead | 34.33 |
| 40 | Brunswick | 35.33 |
| 41 | Cumberland | 35.67 |
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