Cost of Living in Glen arm, MD
Housing
The housing market plays a significant role in determining the cost of living in Glen arm, MD.
- Housing Index: 119.8 / 100
- Median Home Price is: $433,000
- Average Rent (2 BR Apartment): $1928 per month
- Average Rent (2 BR House): $2096 per month
When considering a move to Glen arm, MD, it's essential to evaluate the current housing landscape. With a median home price of 433000, purchasing a home may represent a long-term investment despite the apparent lack of rental options, as indicated by updated figures showing average rents for both 2-bedroom apartments and houses at 1928 and 2096 respectively. Given that the housing index is currently at 119.8, it may signify a stable real estate market ripe for buyers, but potential residents should assess their own financial readiness before making a decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Glen arm, 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.): $252 per month
Living in Glen arm, 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 $252 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 Glen arm is a financially viable option for your relocation.