Cost of Living: Laurel, MD vs Panacea, FL
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Laurel | Panacea |
|---|---|---|
| Housing Index | 120.0 | 85.0 |
| Median Home Price | $414,000 | $351,000 |
| Average Rent (2 BR Apartment) | $2200 | $1600 |
| Average Rent (2 BR House) | $2240 | $1645.6 |
Housing Comparison: Laurel vs Panacea
- In Laurel, the median home price is higher at $414,000, while in Panacea it is $351,000.
- Renting a two-bedroom apartment costs more in Laurel at $2,200 than in Panacea at $1,600.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Laurel | Panacea |
|---|---|---|
| Electricity Price | $17.41 | $13.89 |
| Natural Gas Price | $18.44 | $26.13 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Laurel vs Panacea
- Electricity costs are higher in Laurel at $17.41 per kWh, compared to $13.89 in Panacea.
- Panacea experiences higher natural gas costs at $26.13 per unit, with costs at $18.44 in Laurel.
- Utility expenses are equal in both Laurel and Panacea averaging $250.