Cost Of Living in Riverdale Park, MD

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	Riverdale Park	Maryland	National
Cost of living	129	119	100
Goods & Services	117	106	100
Groceries	105	106	100
Health care	110	97	100
Housing	168	150	100
Transportation	106	98	100
Utilities	111	111	100

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Cost Of Living Quick Facts

The cost of living in Riverdale Park is 8% higher than the Maryland average
The cost of living in Riverdale Park is 29% higher than the national average
Riverdale Park housing is 68% 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

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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	$137,971	$11,498	$3,219	$4,140
Renters	$47,841	$3,987	$1,116	$1,435

The affordability of the housing market in Riverdale Park, 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 Riverdale Park homeowners, the median income is $137,971. This indicates that a monthly maximum of $3,219 should be spent by homeowners on all housing related costs. Renters have a median income of $47,841. This indicates that renters would have a maximum of $1,116 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	Riverdale Park	National avg.	Difference
Haircut	$41.31	$24.26	70.3%
Beauty Salon	$73.33	$45.56	60.9%
Toothpaste	$3.70	$3.70	0.0%
Shampoo	$1.63	$1.28	27.4%
Movie	$15.72	$12.13	29.6%
Bowling	$24.56	$18.00	36.4%

Groceries

Item	Riverdale Park	National avg.	Difference
Ground Beef	$5.72	$5.84	2.1%
Fried Chicken	$1.31	$1.57	16.5%
Milk	$4.83	$4.67	3.3%
Potatoes	$5.15	$4.93	4.5%
Pizza	$12.83	$12.09	6.2%
Beer	$11.41	$10.41	9.6%

Health Care

Item	Riverdale Park	National avg.	Difference
Optometrist	$112.83	$125.68	10.2%
Doctor	$156.21	$135.78	15.0%
Dentist	$135.09	$113.29	19.2%
Ibuprofen	$12.28	$10.65	15.3%
Lipitor	$426.27	$468.60	9.0%

Housing

Item	Riverdale Park	National avg.	Difference
Home Price	$340,900.00	$184,700.00	84.6%
Avg. Mortgage Payment	$5,844.08	$2,346.69	149.0%
Apartment Rent	$1,222.00	$949.00	28.8%

Transportation

Item	Riverdale Park	National avg.	Difference
Gasoline	$3.37	$3.46	2.7%
Tire Balancing	$75.27	$59.92	25.6%

Utilities

Item	Riverdale Park	National avg.	Difference
All Electricity	$227.70	$193.99	17.4%
Phone	$190.71	$192.25	0.8%

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), VA	708	92	7.8%
Belle Haven town, VA	562	102	2.0%
Cottage City, MD	1,150	108	8.4%
Silver Hill, MD	5,155	114	14.0%
Seat Pleasant, MD	4,753	114	14.3%
Riverdale Park, MD	7,216	129	28.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Dunellen, NJ	7,215	119	18.8%
Umatilla, OR	7,215	95	5.1%
Neptune Beach, FL	7,214	127	26.9%
Lago Vista, TX	7,212	109	9.4%
Twin Rivers, NJ	7,221	117	17.3%
Riverdale Park, MD	7,216	129	28.5%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Riverdale Park, MD