Cost of Living in Towson, MD
Housing
The housing market plays a significant role in determining the cost of living in Towson, MD.
- Housing Index: 125.5 / 100
- Median Home Price is: $372,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1900 per month
When considering a move to Towson, MD, the available data indicates a housing index of 125.5, suggesting a relatively high cost of living in terms of housing. With a median home price of 372000, buying a home could be a significant investment. Additionally, the average rent for a 2-bedroom apartment is 1800, and for a 2-bedroom house, it is 1900. Assessing local employment opportunities and long-term growth potential in the area will be crucial factors in your decision-making process. Balancing lifestyle, budget, and economic factors is essential when making this important move.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Towson, MD.
- Electricity Price: $17.41 USD (median by state)
- Natural Gas Price: $18.44 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Towson, MD could entail higher utility costs. Electricity costs sit at $17.41, while natural gas is priced at $18.44 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Towson is a financially viable option for your relocation.