Housing costs in Derwood?
A typical home costs
$533,500, which is 57.8% more expensive than the national average of
$338,100 and 37.5% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in Derwood costs
$2,180 per month, which is 52.4% more than the national average of
$1,430 and 25.7% more than the state average of
$1,620.
Can I afford Derwood?
To live comfortably in Derwood, Maryland, a minimum annual income of
$102,240 for a family, and
$76,800 for a single person is recommended.
What does A.I. say about Derwood?
The cost of living in Derwood, MD is relatively low, with a median home value of $380,474 and an average rent of $1,832 per month. Derwood is close to major cities like Washington D.C., Baltimore, and Annapolis that offer higher wages which make it an attractive option for those looking to save money on housing costs while still being able to take advantage of the amenities offered in these larger cities. Despite this, there are still many affordable housing options available for those looking to relocate to Derwood; the town features a variety of apartment complexes and single-family homes at competitive prices that make it easy to live within your budget. Additionally, many stores in the area offer discounts and specials throughout the year that make it easier for people to find good deals on groceries and other household items.