F
33%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
101%
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 Mays Chapel Maryland National
Cost of living133119100
Goods & Services103106100
Groceries105106100
Health care9897100
Housing201150100
Transportation10198100
Utilities111111100

An Overview of Cost of Living in Mays Chapel, MD

Knowing the cost of living in Mays Chapel 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 Mays Chapel stands at 133, marking it 33% higher than the national average.

If you prioritize affordability when seeking a new place to live, Mays Chapel may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Mays Chapel falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a very significant part of the Mays Chapel 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 100.6% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Mays Chapel Affordable?

Is Mays Chapel 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 Mays Chapel, for instance, where the median home price falls 114.6% higher than the national average, and monthly rent rates are 67.8% higher than usual. Additionally, median income levels contribute to the equation, with Mays Chapel flaunting a median household income of $110,403, 99.6% higher than the national norm.

What Factors can Influence the Cost of Living in Mays Chapel?

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 Mays Chapel, the transportation index is 1.3% higher than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Mays Chapel, the groceries index is 4.5% higher 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.

Where is the Data From?

The Mays Chapel 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 Mays Chapel is 12% higher than the Maryland average
  • The cost of living in Mays Chapel is 33% higher than the national average
  • Mays Chapel housing is 101% 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 Mays Chapel

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Compare Mays Chapel, 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$118,050$9,838$2,754$3,542
      Renters$95,146$7,929$2,220$2,855
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Mays Chapel, 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 Mays Chapel homeowners, is $118,050. This would allow for a maximum of $2,754 per month to be spent on housing costs. For renters, the median monthly income is $95,146 which would result in a maximum of $2,220 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 Mays Chapel 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 Mays Chapel 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 Mays Chapel 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 Mays Chapel National avg. Difference
      Home Price $396,400.00$184,700.00114.6%
      Avg. Mortgage Payment $1,906.29$2,346.6918.8%
      Apartment Rent $1,592.00$949.0067.8%

      Transportation

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

      Utilities

      Item Mays Chapel 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%
      Essex, MD39,3071055.5%
      Baltimore Highlands, MD7,8801077.1%
      Mays Chapel, MD12,22913332.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ringwood, NJ12,22912828.4%
      Cottonwood, AZ12,2281043.8%
      Orange City, FL12,232964.1%
      Minneola, FL12,22311212.4%
      Northlake, IL12,2351033.5%
      Mays Chapel, MD12,22913332.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.