Cost of Living in Laurel, MD
Housing
The housing market plays a significant role in determining the cost of living in Laurel, MD.
- Housing Index: 120.0 / 100
- Median Home Price is: $414,000
- Average Rent (2 BR Apartment): $2200 per month
- Average Rent (2 BR House): $2240 per month
If you’re considering a move to Laurel, MD, the housing market shows a housing index of 120.0, indicating above-average costs compared to national trends. The median home price stands at 414000, which suggests a competitive market for buyers. Renting may also be pricey, with an average rent of 2200 for a 2-bedroom apartment and 2240 for a house. Keep in mind that local amenities, schools, and employment opportunities can influence living costs and overall quality of life, making it essential to weigh these factors when making your decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Laurel, 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 Laurel, 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 Laurel is a financially viable option for your relocation.