Lake Shore, MD Cost Of Living
Cost Of Living In Lake Shore, MD Summary
Cost of living in Lake Shore research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lake Shore is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Maryland, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lake Shore is 127, with 100 being the average.
The cost of living index in Lake Shore is 1.3x higher than the national average.
Lake Shore ranks as the #118 cheapest in Maryland out of 188.
Lake Shore ranks as the #5,140 cheapest out of 6,412 in the US.
The median home value in Lake Shore is $415,900.
The median income in Lake Shore is $115,104.
Table Of Contents
Lake Shore's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Shore, MD?
According to the most recent data on the cost of living, Lake Shore has an overall cost of living index of 127, which is 1.3x higher than the national index of 100.
Compared to Maryland, Lake Shore has a cost of living index that's 1.1x higher than Maryland's index of 120.
The standard of living in Lake Shore ranks as #118 most affordable out of the 188 places we measured in Maryland. By definition, that implies Lake Shore ranks as the #70 most expensive place in the Old Line State.
For more reading on life in Lake Shore, check out:
- Living In Lake Shore
- Search Homes For Sale In Lake Shore, MD
In Maryland
In America
Lake Shore Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Lake Shore. Here is how it fairs on each of the criteria:
The Services index in Lake Shore is 106.
The Groceries index in Lake Shore is 114.
The Health index in Lake Shore is 82.
The Housing index in Lake Shore is 185.
The Transportation index in Lake Shore is 101.
The Utilities index in Lake Shore is 106.
| Living Expense | Lake Shore | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 127 | 120 | 100 | |
| Services | 106 | 109 | 100 | |
| Groceries | 114 | 108 | 100 | |
| Health | 82 | 92 | 100 | |
| Housing | 185 | 156 | 100 | |
| Transportation | 101 | 100 | 100 | |
| Utilities | 106 | 108 | 100 | |
Lake Shore, MD Housing Cost Breakdown
Housing swings affordability the most between places in Maryland, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Lake Shore is $415,900.
The Median Rent in Lake Shore is $1,538.
The Median Income in Lake Shore is $115,104.
The Home Value To Income in Lake Shore is 3.6x.
The Rent To Monthly Income in Lake Shore is 0.16x.
| Statistic | Lake Shore | Maryland | United States |
|---|---|---|---|
| Median Home Value | $415,900 | $338,500 | $244,900 |
| Median Rent | $1,538 | $1,485 | $1,163 |
| Median Income | $115,104 | $91,431 | $69,021 |
| Home Value To Income | 3.6x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.16x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Lake Shore, MD Costs By Category
Detailed Lake Shore Services Costs Vs. Maryland
| Item | Lake Shore | Maryland |
|---|---|---|
| Shampoo | $1.0 | $1.06 |
| Movie | $13.19 | $10.68 |
| Bowling | $17.08 | $14.67 |
| Haircut | $22.28 | $18.62 |
| Beauty Salon | $52.83 | $39.05 |
Detailed Lake Shore Groceries Costs Vs. Maryland
| Item | Lake Shore | Maryland |
|---|---|---|
| Ground Beef | $4.27 | $4.22 |
| Fried Chicken | $1.66 | $1.39 |
| Milk | $2.39 | $2.05 |
| Potatoes | $4.1 | $3.29 |
| Pizza | $11.99 | $10.62 |
| Beer | $9.19 | $9.38 |
| Toothpaste | $4.47 | $2.34 |
Detailed Lake Shore Health Costs Vs. Maryland
| Item | Lake Shore | Maryland |
|---|---|---|
| Optometrist | $82.95 | $108.57 |
| Doctor | $93.69 | $116.17 |
| Dentist | $84.98 | $99.13 |
Detailed Lake Shore Transportation Costs Vs. Maryland
| Item | Lake Shore | Maryland |
|---|---|---|
| Gasoline | $2.15 | $2.22 |
| Tire Balancing | $54.77 | $50.07 |
Detailed Lake Shore Utilities Costs Vs. Maryland
| Item | Lake Shore | Maryland |
|---|---|---|
| All Electricity | $176.72 | $167.67 |
| Phone | $192.13 | $175.64 |
Lake Shore SnackAbility
/10
Cost Of Living In Cities Around Lake Shore
The cost of living varies in the cities and towns around Lake Shore. Here's a quick look at the cost of living in the most populous nearby places:
Glen Burnie, MD has a cost of living index of 112, 0.9x Lake Shore.
Bowie, MD has a cost of living index of 134, 1.1x Lake Shore.
Severna Park, MD has a cost of living index of 146, 1.1x Lake Shore.
| City | Population | Cost Of Living | Vs. Lake Shore |
|---|---|---|---|
| Glen Burnie, MD | 69,739 | 112 | 0.9x |
| Bowie, MD | 58,113 | 134 | 1.1x |
| Severna Park, MD | 39,108 | 146 | 1.1x |
| Pasadena, MD | 31,583 | 122 | 1.0x |
| Crofton, MD | 29,812 | 140 | 1.1x |
| Ilchester, MD | 27,513 | 133 | 1.0x |
| Arnold, MD | 25,056 | 134 | 1.1x |
| North Laurel, MD | 24,233 | 129 | 1.0x |
| Elkridge, MD | 24,115 | 127 | 1.0x |
| Annapolis Neck, MD | 13,059 | 153 | 1.2x |
