F
33%
Overall NAT. AVG.
17%
Goods & Services NAT. AVG.
82%
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 South Laurel Maryland National
Cost of living133119100
Goods & Services117106100
Groceries105106100
Health care11097100
Housing182150100
Transportation10698100
Utilities111111100

An Overview of Cost of Living in South Laurel, MD

Knowing the cost of living in South Laurel allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in South Laurel stands at 133, marking it 33% higher than the national average.

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 South Laurel 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, South Laurel falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs are a very significant part of the South Laurel cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 81.8% more than the average city. This includes things like home and rent prices, 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 South Laurel, these items will cost you 16.6% more than what most folks pay, making it a bit more expensive to live here.

Is South Laurel Affordable?

Is South Laurel 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 South Laurel is 89.1% higher than the national average, while the average monthly rent prices are 64.7% higher than average. The affordability of any location can also be influenced by median income levels. South Laurel has a median household income of $77,741, which is 40.5% higher than the national average.

What Factors can Influence the Cost of Living in South Laurel?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In South Laurel, the transportation index is 5.5% higher than the national average.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in South Laurel starts at 6% and the income tax rates start at 2%.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Where is the Data From?

The cost of living in South Laurel, 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 South Laurel is 12% higher than the Maryland average
  • The cost of living in South Laurel is 33% higher than the national average
  • South Laurel housing is 82% 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 South Laurel

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Compare South Laurel, 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$121,906$10,159$2,844$3,658
      Renters$54,881$4,573$1,280$1,647
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in South Laurel, 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 South Laurel homeowners, is $121,906. This would allow for a maximum of $2,844 per month to be spent on housing costs. For renters, the median monthly income is $54,881 which would result in a maximum of $1,280 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 South Laurel 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 South Laurel 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 South Laurel 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 South Laurel National avg. Difference
      Home Price $349,200.00$184,700.0089.1%
      Avg. Mortgage Payment $5,844.08$2,346.69149.0%
      Apartment Rent $1,563.00$949.0064.7%

      Transportation

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

      Utilities

      Item South Laurel 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.
      Lansdowne, MD8,6351022.4%
      Cottage City, MD1,1501088.4%
      Brooklyn Park, MD15,1631098.7%
      Seat Pleasant, MD4,75311414.3%
      Arbutus, MD19,26711110.7%
      South Laurel, MD27,59313332.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Milton, MA27,59016969.3%
      Tualatin, OR27,60114039.8%
      Morrisville, NC27,58211919.1%
      Converse, TX27,582991.5%
      Lansing, IL27,614982.5%
      South Laurel, MD27,59313332.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.