Montgomery Village, MD Cost Of Living
Cost Of Living In Montgomery Village, MD Summary
Cost of living in Montgomery Village 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 Montgomery Village 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 Montgomery Village is 125, with 100 being the average.
The cost of living index in Montgomery Village is 1.2x higher than the national average.
Montgomery Village ranks as the #109 cheapest in Maryland out of 188.
Montgomery Village ranks as the #5,043 cheapest out of 6,412 in the US.
The median home value in Montgomery Village is $322,000.
The median income in Montgomery Village is $84,362.
Table Of Contents
Montgomery Village's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Montgomery Village, MD?
According to the most recent data on the cost of living, Montgomery Village has an overall cost of living index of 125, which is 1.2x higher than the national index of 100.
Compared to Maryland, Montgomery Village has a cost of living index that's 1.0x higher than Maryland's index of 120.
The standard of living in Montgomery Village ranks as #109 most affordable out of the 188 places we measured in Maryland. By definition, that implies Montgomery Village ranks as the #79 most expensive place in the Old Line State.
For more reading on life in Montgomery Village, check out:
- Living In Montgomery Village
- Search Homes For Sale In Montgomery Village, MD
In Maryland
In America
Montgomery Village Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Montgomery Village. Here is how it fairs on each of the criteria:
The Services index in Montgomery Village is 116.
The Groceries index in Montgomery Village is 112.
The Health index in Montgomery Village is 88.
The Housing index in Montgomery Village is 151.
The Transportation index in Montgomery Village is 116.
The Utilities index in Montgomery Village is 110.
| Living Expense | Montgomery Village | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 125 | 120 | 100 | |
| Services | 116 | 109 | 100 | |
| Groceries | 112 | 108 | 100 | |
| Health | 88 | 92 | 100 | |
| Housing | 151 | 156 | 100 | |
| Transportation | 116 | 100 | 100 | |
| Utilities | 110 | 108 | 100 | |
Montgomery Village, 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 Montgomery Village is $322,000.
The Median Rent in Montgomery Village is $1,725.
The Median Income in Montgomery Village is $84,362.
The Home Value To Income in Montgomery Village is 3.8x.
The Rent To Monthly Income in Montgomery Village is 0.25x.
| Statistic | Montgomery Village | Maryland | United States |
|---|---|---|---|
| Median Home Value | $322,000 | $338,500 | $244,900 |
| Median Rent | $1,725 | $1,485 | $1,163 |
| Median Income | $84,362 | $91,431 | $69,021 |
| Home Value To Income | 3.8x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.25x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Montgomery Village, MD Costs By Category
Detailed Montgomery Village Services Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| Shampoo | $1.43 | $1.06 |
| Movie | $12.5 | $10.68 |
| Bowling | $21.25 | $14.67 |
| Haircut | $31.92 | $18.62 |
| Beauty Salon | $63.67 | $39.05 |
Detailed Montgomery Village Groceries Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| Ground Beef | $4.7 | $4.22 |
| Fried Chicken | $1.75 | $1.39 |
| Milk | $2.49 | $2.05 |
| Potatoes | $3.99 | $3.29 |
| Pizza | $11.99 | $10.62 |
| Beer | $10.99 | $9.38 |
| Toothpaste | $2.74 | $2.34 |
Detailed Montgomery Village Health Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| Optometrist | $75.0 | $108.57 |
| Doctor | $97.0 | $116.17 |
| Dentist | $87.0 | $99.13 |
Detailed Montgomery Village Transportation Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| Gasoline | $2.44 | $2.22 |
| Tire Balancing | $62.0 | $50.07 |
Detailed Montgomery Village Utilities Costs Vs. Maryland
| Item | Montgomery Village | Maryland |
|---|---|---|
| All Electricity | $193.98 | $167.67 |
| Phone | $190.63 | $175.64 |
Montgomery Village SnackAbility
/10
