Quick facts: Rockville, MD

Quick Facts

115.4
Cost of Living
above US average
66,924
Population
6.47
Crime Rate per 1000
below US average
$122,470
Median Income
above US average
$525,000
Median House Price
above US average
$2956.55
Average Rent
above US average
5%
Poverty Rate
below US average
2.9%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $122,470.

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Income Needed to Buy

βœ— Stretch
$165k/year
Based on $525,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $165k vs median $122,470
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Income Needed to Rent

⚠ Stretch
$127k/year
Based on $2956.55/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $127k vs median $122,470
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Rockville, MD

Rockville, Maryland, is a vibrant city located in Montgomery County, just a short distance from Washington, D.C. Known for its rich history, Rockville serves as the county seat and has evolved into a bustling suburban hub with a mix of residential, commercial, and recreational spaces. The city boasts a diverse population and a variety of cultural attractions, including theaters, art galleries, and annual community events. Rockville is home to numerous parks and outdoor spaces, such as the expansive Rock Creek Regional Park and the scenic Lake Needwood, offering residents ample opportunities for hiking, biking, and enjoying nature. The city's historic district features charming buildings and landmarks, including the Rockville Town Square, which serves as a social and commercial center. With a strong emphasis on education, Rockville is served by several reputable schools and is close to numerous higher education institutions. Its strategic location provides easy access to public transportation, including the Washington Metro system, making it an ideal spot for commuters. Rockville's combination of suburban charm and urban accessibility makes it a desirable place to live and work.

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