Cost of Living in Severna park, MD

Housing

The housing market plays a significant role in determining the cost of living in Severna park, MD.

• Housing Index: 120.5 / 100
• Median Home Price is: $476000
• Average Rent (2 BR Apartment): $2200 per month
• Average Rent (2 BR House): $2245 per month

When considering a move to Severna park, MD, it's crucial to evaluate its housing market. The housing index stands at 120.5, indicating that home prices here are higher than the national average. With a median home price of 476000, purchasing a home might require significant investment. If renting is more your style, expect to pay around 2200 for a 2-bedroom apartment or 2245 for a 2-bedroom house. Keep in mind that the cost of living may also influence your choice, so consider all financial aspects before 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 Severna park, 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.): $280 per month

Living in Severna park, 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 280 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 115.2

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $164288

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Severna park, MD, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.