F
29%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
81%
Housing NAT. AVG.
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 Spring Ridge Maryland National
Cost of living129119100
Goods & Services109106100
Groceries108106100
Health care9797100
Housing181150100
Transportation9598100
Utilities110111100

Cost Of Living Quick Facts

  • The cost of living in Spring Ridge is 9% higher than the Maryland average
  • The cost of living in Spring Ridge is 29% higher than the national average
  • Spring Ridge housing is 81% 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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Compare Spring Ridge, 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$119,100$9,925$2,779$3,573
          Renters$59,750$4,979$1,394$1,793
          The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Spring Ridge, MD, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Spring Ridge, homeowners have a median income of $119,100. Using that number, a maximum of $2,779 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $59,750, which means there is a maximum of $1,394 to be spent on the costs of renting a home or apartment.

          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 Spring Ridge 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 Spring Ridge 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 Spring Ridge 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 Spring Ridge National avg. Difference
          Home Price $342,300.00$184,700.0085.3%
          Avg. Mortgage Payment $4,819.29$2,346.69105.4%
          Apartment Rent $1,618.00$949.0070.5%

          Transportation

          Item Spring Ridge National avg. Difference
          Gasoline $3.25$3.466.0%
          Tire Balancing $59.00$59.921.5%

          Utilities

          Item Spring Ridge 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.
          Middleburg, MD01043.9%
          Union Bridge, MD9631044.3%
          Bagtown, MD40011414.1%
          Thurmont, MD6,78311414.1%
          Mount Lena, MD35511615.7%
          Spring Ridge, MD5,61212928.7%

          Cities with similar population

          City Population Cost of Living Index National Avg.
          North Manchester, IN5,6128812.4%
          Severance, CO5,61112323.2%
          Bryn Mawr, PA5,61112828.1%
          Wake Village, TX5,611909.9%
          Old Fig Garden, CA5,61313130.7%
          Spring Ridge, MD5,61212928.7%
          Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.