Owings Mills, MD Cost Of Living
Cost Of Living In Owings Mills, MD Summary
Cost of living in Owings Mills 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 Owings Mills 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 Owings Mills is 115, with 100 being the average.
The cost of living index in Owings Mills is 1.1x higher than the national average.
Owings Mills ranks as the #58 cheapest in Maryland out of 188.
Owings Mills ranks as the #4,492 cheapest out of 6,412 in the US.
The median home value in Owings Mills is $279,400.
The median income in Owings Mills is $87,376.
Table Of Contents
Owings Mills's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Owings Mills, MD?
According to the most recent data on the cost of living, Owings Mills has an overall cost of living index of 115, which is 1.1x higher than the national index of 100.
Compared to Maryland, Owings Mills has a cost of living index that's 1.0x lower than Maryland's index of 120.
The standard of living in Owings Mills ranks as #58 most affordable out of the 188 places we measured in Maryland. By definition, that implies Owings Mills ranks as the #130 most expensive place in the Old Line State.
For more reading on life in Owings Mills, check out:
- Living In Owings Mills
- Search Homes For Sale In Owings Mills, MD
In Maryland
In America
Owings Mills Cost Of Living Vs. Maryland
Six factors go into calculating the cost of living index in Owings Mills. Here is how it fairs on each of the criteria:
The Services index in Owings Mills is 106.
The Groceries index in Owings Mills is 115.
The Health index in Owings Mills is 85.
The Housing index in Owings Mills is 136.
The Transportation index in Owings Mills is 99.
The Utilities index in Owings Mills is 107.
| Living Expense | Owings Mills | Maryland | National Average | |
|---|---|---|---|---|
| Overall | 115 | 120 | 100 | |
| Services | 106 | 109 | 100 | |
| Groceries | 115 | 108 | 100 | |
| Health | 85 | 92 | 100 | |
| Housing | 136 | 156 | 100 | |
| Transportation | 99 | 100 | 100 | |
| Utilities | 107 | 108 | 100 | |
Owings Mills, 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 Owings Mills is $279,400.
The Median Rent in Owings Mills is $1,662.
The Median Income in Owings Mills is $87,376.
The Home Value To Income in Owings Mills is 3.2x.
The Rent To Monthly Income in Owings Mills is 0.23x.
| Statistic | Owings Mills | Maryland | United States |
|---|---|---|---|
| Median Home Value | $279,400 | $338,500 | $244,900 |
| Median Rent | $1,662 | $1,485 | $1,163 |
| Median Income | $87,376 | $91,431 | $69,021 |
| Home Value To Income | 3.2x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Owings Mills, MD Costs By Category
Detailed Owings Mills Services Costs Vs. Maryland
| Item | Owings Mills | 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 Owings Mills Groceries Costs Vs. Maryland
| Item | Owings Mills | 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 Owings Mills Health Costs Vs. Maryland
| Item | Owings Mills | Maryland |
|---|---|---|
| Optometrist | $82.95 | $108.57 |
| Doctor | $93.69 | $116.17 |
| Dentist | $84.98 | $99.13 |
Detailed Owings Mills Transportation Costs Vs. Maryland
| Item | Owings Mills | Maryland |
|---|---|---|
| Gasoline | $2.15 | $2.22 |
| Tire Balancing | $54.77 | $50.07 |
Detailed Owings Mills Utilities Costs Vs. Maryland
| Item | Owings Mills | Maryland |
|---|---|---|
| All Electricity | $176.72 | $167.67 |
| Phone | $192.13 | $175.64 |
Owings Mills SnackAbility
/10
Cost Of Living In Cities Around Owings Mills
The cost of living varies in the cities and towns around Owings Mills. Here's a quick look at the cost of living in the most populous nearby places:
Columbia, MD has a cost of living index of 129, 1.1x Owings Mills.
Towson, MD has a cost of living index of 123, 1.1x Owings Mills.
Severn, MD has a cost of living index of 127, 1.1x Owings Mills.
| City | Population | Cost Of Living | Vs. Owings Mills |
|---|---|---|---|
| Columbia, MD | 105,086 | 129 | 1.1x |
| Towson, MD | 59,014 | 123 | 1.1x |
| Severn, MD | 53,955 | 127 | 1.1x |
| Randallstown, MD | 35,641 | 109 | 0.9x |
| Pikesville, MD | 33,549 | 123 | 1.1x |
| Milford Mill, MD | 30,685 | 106 | 0.9x |
| Eldersburg, MD | 30,418 | 126 | 1.1x |
| Reisterstown, MD | 27,917 | 112 | 1.0x |
| Ilchester, MD | 27,513 | 133 | 1.2x |
| Lochearn, MD | 26,995 | 106 | 0.9x |
