F
34%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
105%
Housing NAT. AVG.
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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 Ilchester Maryland National
Cost of living134119100
Goods & Services103106100
Groceries105106100
Health care9897100
Housing205150100
Transportation10198100
Utilities111111100

An Overview of Cost of Living in Ilchester, MD

Are you thinking about relocating, but curious about the potential cost of living in Ilchester? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Ilchester stands at 134, making it 34% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If you value affordability in your search for a new place to live, Ilchester may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Ilchester falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs significantly influence the Ilchester cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 105.5%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Ilchester Affordable?

Is Ilchester an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Ilchester, the median home price is 113.8% higher than what most folks pay across the country, and monthly rent prices are 86.1% higher than the usual rates. Income levels in Ilchester come in at $123,438, which is 123.1% higher than the national average.

What Factors can Influence the Cost of Living in Ilchester?

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Ilchester, healthcare costs are 2.5% lower than the national average.

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

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 Ilchester, the standard sales tax rate starts at 6%, and the income tax rates commence at 2%.

Where is the Data From?

The Ilchester 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.

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Cost Of Living Quick Facts

  • The cost of living in Ilchester is 13% higher than the Maryland average
  • The cost of living in Ilchester is 34% higher than the national average
  • Ilchester housing is 105% 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 Ilchester

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Compare Ilchester, MD Cost of Living

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      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$146,676$12,223$3,422$4,401
      Renters$73,083$6,090$1,705$2,193
      A good way to judge both the affordability of the housing and the cost of living in Ilchester is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Ilchester has a median income of about $146,676 for people who own homes. Based on that number, a maximum of $3,422 should be spent on expenses related to housing. Renters have a slightly different median income, which is $73,083. Based on this average, renters should spend no more than $1,705 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Ilchester National avg. Difference
      Haircut $28.33$24.2616.8%
      Beauty Salon $58.17$45.5627.7%
      Toothpaste $3.69$3.700.3%
      Shampoo $1.44$1.2812.7%
      Movie $13.69$12.1312.9%
      Bowling $23.03$18.0027.9%

      Groceries

      Item Ilchester National avg. Difference
      Ground Beef $6.23$5.846.7%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.73$4.671.2%
      Potatoes $5.46$4.9310.7%
      Pizza $13.24$12.099.5%
      Beer $10.36$10.410.5%

      Health Care

      Item Ilchester National avg. Difference
      Optometrist $114.22$125.689.1%
      Doctor $133.22$135.781.9%
      Dentist $117.22$113.293.5%
      Ibuprofen $11.10$10.654.2%
      Lipitor $401.39$468.6014.3%

      Housing

      Item Ilchester National avg. Difference
      Home Price $394,900.00$184,700.00113.8%
      Avg. Mortgage Payment $1,906.29$2,346.6918.8%
      Apartment Rent $1,766.00$949.0086.1%

      Transportation

      Item Ilchester National avg. Difference
      Gasoline $3.46$3.460.1%
      Tire Balancing $62.66$59.924.6%

      Utilities

      Item Ilchester National avg. Difference
      All Electricity $223.91$193.9915.4%
      Phone $199.62$192.253.8%
      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.
      Dundalk, MD63,8261021.7%
      Baltimore, MD602,2741022.1%
      Lansdowne, MD8,6351022.4%
      Baltimore Highlands, MD7,8801077.1%
      Woodlawn CDP (Prince George's County), MD7,8731077.4%
      Ilchester, MD26,87313434.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lindenhurst, NY26,88513939.0%
      Carrollton, GA26,857954.7%
      McHenry, IL26,8891000.3%
      Temple Terrace, FL26,9011044.3%
      Thomasville, NC26,8348713.4%
      Ilchester, MD26,87313434.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.