F
41%
Overall NAT. AVG.
17%
Goods & Services NAT. AVG.
110%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Crofton Maryland National
Cost of living141119100
Goods & Services117106100
Groceries105106100
Health care11097100
Housing210150100
Transportation10698100
Utilities111111100

An Overview of Cost of Living in Crofton, MD

Understanding the cost of living in Crofton can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Crofton cost of living index is 141, which is 41% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If you're in pursuit of an economical living environment, Crofton may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Crofton falls within this bracket.

When it comes to the cost of living in Crofton, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 109.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Crofton, these items will cost you 16.6% more than what's considered the norm, making it a more expensive place to call home.

Is Crofton Affordable?

Is Crofton an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Crofton is 113.3% higher than the national average, while the average monthly rent prices are 100.6% higher than average. The affordability of any location can also be influenced by median income levels. Crofton has a median household income of $124,019, which is 124.2% higher than the national average.

What Factors can Influence the Cost of Living in Crofton?

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Crofton, is 109.5% higher than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Crofton, the standard sales tax rate starts at 6%, and the income tax rates commence at 2%.

Where is the Data From?

The Crofton cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

New Real Estate Listings in Crofton Area
Search Homes for Sale in Crofton, MD

Cost Of Living Quick Facts

  • The cost of living in Crofton is 19% higher than the Maryland average
  • The cost of living in Crofton is 41% higher than the national average
  • Crofton housing is 110% higher than the national average
  • Maryland general sales tax is 18% higher than the national average
  • Maryland state income tax is 23% lower than the national average

Most Affordable Places to Live in and Around Crofton

See all the best places to live around Crofton

Compare Crofton, MD Cost of Living

      vs
      How would you rate the cost of living in Crofton?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Crofton?
      Write a review to give others more information about this area.
      See all Crofton poll results

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$136,740$11,395$3,190$4,103
      Renters$94,048$7,837$2,194$2,822
      The affordability of the housing market in Crofton, MD as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Crofton homeowners, the median income is $136,740. This indicates that a monthly maximum of $3,190 should be spent by homeowners on all housing related costs. Renters have a median income of $94,048. This indicates that renters would have a maximum of $2,194 for their rent related monthly costs.

      Maryland Sales Tax

      State General Sales Tax With Max Surtax
      Maryland 6% 6%

      Maryland Income Tax

      State Income Tax (Low) Income Tax (High)
      Maryland 2% 5.75%

      Goods & Services

      Item Crofton National avg. Difference
      Haircut $41.31$24.2670.3%
      Beauty Salon $73.33$45.5660.9%
      Toothpaste $3.70$3.700.0%
      Shampoo $1.63$1.2827.4%
      Movie $15.72$12.1329.6%
      Bowling $24.56$18.0036.4%

      Groceries

      Item Crofton National avg. Difference
      Ground Beef $5.72$5.842.1%
      Fried Chicken $1.31$1.5716.5%
      Milk $4.83$4.673.3%
      Potatoes $5.15$4.934.5%
      Pizza $12.83$12.096.2%
      Beer $11.41$10.419.6%

      Health Care

      Item Crofton National avg. Difference
      Optometrist $112.83$125.6810.2%
      Doctor $156.21$135.7815.0%
      Dentist $135.09$113.2919.2%
      Ibuprofen $12.28$10.6515.3%
      Lipitor $426.27$468.609.0%

      Housing

      Item Crofton National avg. Difference
      Home Price $394,000.00$184,700.00113.3%
      Avg. Mortgage Payment $5,844.08$2,346.69149.0%
      Apartment Rent $1,904.00$949.00100.6%

      Transportation

      Item Crofton National avg. Difference
      Gasoline $3.37$3.462.7%
      Tire Balancing $75.27$59.9225.6%

      Utilities

      Item Crofton National avg. Difference
      All Electricity $227.70$193.9917.4%
      Phone $190.71$192.250.8%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Cottage City, MD1,1501088.4%
      Silver Hill, MD5,15511414.0%
      Brooklyn Park, MD15,1631098.7%
      Seat Pleasant, MD4,75311414.3%
      Capitol Heights, MD4,50511717.5%
      Crofton, MD29,48214141.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      O'Fallon, IL29,4871011.0%
      Austintown, OH29,4678614.4%
      Suisun City, CA29,45914443.8%
      Canton, GA29,4591077.4%
      Seguin, TX29,458928.0%
      Crofton, MD29,48214141.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.