F
60%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
187%
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 North Bethesda Maryland National
Cost of living160119100
Goods & Services109106100
Groceries108106100
Health care9797100
Housing287150100
Transportation9598100
Utilities110111100

An Overview of Cost of Living in North Bethesda, MD

Getting a feel for the cost of living in North Bethesda is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in North Bethesda is 160, which is 60% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you're in pursuit of an economical living environment, North Bethesda 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, North Bethesda falls within this bracket.

Housing costs make up a big chunk of the cost of living in North Bethesda, 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 186.5% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is North Bethesda Affordable?

Is North Bethesda affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take North Bethesda, for instance, where the median home price falls 221.7% higher than the national average, and monthly rent rates are 104.5% higher than usual. Additionally, median income levels contribute to the equation, with North Bethesda flaunting a median household income of $111,694, 101.9% higher than the national norm.

What Factors can Influence the Cost of Living in North Bethesda?

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In North Bethesda, healthcare costs are 2.8% lower than the national average.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In North Bethesda, the housing index comes in at 186.5% higher than the national average.

Where is the Data From?

The North Bethesda cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in North Bethesda is 35% higher than the Maryland average
  • The cost of living in North Bethesda is 60% higher than the national average
  • North Bethesda housing is 187% 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 North Bethesda

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Compare North Bethesda, 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$153,852$12,821$3,590$4,616
      Renters$89,764$7,480$2,094$2,693
      The affordability of the housing market in North Bethesda, 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 North Bethesda homeowners, the median income is $153,852. This indicates that a monthly maximum of $3,590 should be spent by homeowners on all housing related costs. Renters have a median income of $89,764. This indicates that renters would have a maximum of $2,094 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 North Bethesda National avg. Difference
      Haircut $26.11$24.267.6%
      Beauty Salon $70.08$45.5653.8%
      Toothpaste $3.81$3.702.8%
      Shampoo $1.51$1.2817.9%
      Movie $15.69$12.1329.3%
      Bowling $24.83$18.0038.0%

      Groceries

      Item North Bethesda National avg. Difference
      Ground Beef $6.24$5.846.9%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.78$4.672.2%
      Potatoes $5.49$4.9311.3%
      Pizza $12.56$12.093.9%
      Beer $11.10$10.416.6%

      Health Care

      Item North Bethesda National avg. Difference
      Optometrist $92.00$125.6826.8%
      Doctor $135.03$135.780.5%
      Dentist $117.67$113.293.9%
      Ibuprofen $11.52$10.658.1%
      Lipitor $403.79$468.6013.8%

      Housing

      Item North Bethesda National avg. Difference
      Home Price $594,100.00$184,700.00221.7%
      Avg. Mortgage Payment $4,819.29$2,346.69105.4%
      Apartment Rent $1,941.00$949.00104.5%

      Transportation

      Item North Bethesda National avg. Difference
      Gasoline $3.25$3.466.0%
      Tire Balancing $59.00$59.921.5%

      Utilities

      Item North Bethesda National avg. Difference
      All Electricity $222.47$193.9914.7%
      Phone $197.37$192.252.7%
      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.
      Wakefield town, VA810954.6%
      Cottage City, MD1,1501088.4%
      Silver Hill, MD5,15511414.0%
      Seat Pleasant, MD4,75311414.3%
      Capitol Heights, MD4,50511717.5%
      North Bethesda, MD49,71916060.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Mishawaka, IN49,6758416.1%
      West Lafayette, IN49,6681054.9%
      Poway, CA49,78017776.7%
      Kannapolis, NC49,788936.8%
      Little Elm, TX49,79212424.2%
      North Bethesda, MD49,71916060.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.