Cost of Living: Hope, AR vs Laurel, MD
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Hope | Laurel |
|---|---|---|
| Housing Index | 70.5 | 120.0 |
| Median Home Price | $150,000 | $414,000 |
| Average Rent (2 BR Apartment) | $800 | $2200 |
| Average Rent (2 BR House) | $816 | $2240 |
Housing Comparison: Hope vs Laurel
- The median home price in Laurel is higher at $414,000, compared to $150,000 in Hope.
- Renting a two-bedroom apartment costs more in Hope at $800 than in Laurel at $2,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Hope | Laurel |
|---|---|---|
| Electricity Price | $12.36 | $17.41 |
| Natural Gas Price | $17.08 | $18.44 |
| Other Utilities | $200 | $250 |
Utilities Comparison: Hope vs Laurel
- Laurel has higher electricity costs at $17.41 per kWh, versus $12.36 in Hope.
- Laurel experiences higher natural gas costs at $18.44 per unit, with costs at $17.08 in Hope.
- Laurel has higher utility expenses, averaging $250, while Hope averages $200.