F
26%
Overall NAT. AVG.
17%
Goods & Services NAT. AVG.
59%
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 Largo Maryland National
Cost of living126119100
Goods & Services117106100
Groceries105106100
Health care11097100
Housing159150100
Transportation10698100
Utilities111111100

An Overview of Cost of Living in Largo, MD

Understanding the cost of living in Largo 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 Largo cost of living index is 126, which is 26% 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 affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Largo is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Largo falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in Largo, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 59.1% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Largo, these items will cost you 16.6% more than what most folks pay, making it a bit more expensive to live here.

Is Largo Affordable?

Is Largo 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 Largo is 49.9% higher than the national average, while the average monthly rent prices are 80.6% higher than average. The affordability of any location can also be influenced by median income levels. Largo has a median household income of $90,236, which is 63.1% higher than the national average.

What Factors can Influence the Cost of Living in Largo?

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 Largo, healthcare costs are 10% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Largo, the groceries index registers 5.4% higher than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Where is the Data From?

The cost of living in Largo, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Largo is 6% higher than the Maryland average
  • The cost of living in Largo is 26% higher than the national average
  • Largo housing is 59% 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 Largo

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Compare Largo, MD Cost of Living

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      Salary Calculator

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      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$113,924$9,494$2,658$3,418
      Renters$80,020$6,668$1,867$2,401
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Largo, MD, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Largo homeowners, is $113,924. This would allow for a maximum of $2,658 per month to be spent on housing costs. For renters, the median monthly income is $80,020 which would result in a maximum of $1,867 to be spent on rental 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 Largo 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 Largo 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 Largo 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 Largo National avg. Difference
      Home Price $276,900.00$184,700.0049.9%
      Avg. Mortgage Payment $5,844.08$2,346.69149.0%
      Apartment Rent $1,714.00$949.0080.6%

      Transportation

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

      Utilities

      Item Largo 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.
      Rose Hill CDP (Lee County), VA708927.8%
      Belle Haven town, VA5621022.0%
      Cottage City, MD1,1501088.4%
      Silver Hill, MD5,15511414.0%
      Seat Pleasant, MD4,75311414.3%
      Largo, MD11,63312625.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Wyandanch, NY11,63212726.6%
      Four Corners, TX11,6341077.5%
      Lethbridge County, AB11,635n/a 
      Mango, FL11,638936.9%
      Beachwood, OH11,62711817.6%
      Largo, MD11,63312625.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.