Housing costs in Lake Arbor?
A typical home costs
$394,400, which is 16.7% more expensive than the national average of
$338,100 and 1.6% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in Lake Arbor costs
$2,220 per month, which is 55.2% more than the national average of
$1,430 and 27.0% more than the state average of
$1,620.
Can I afford Lake Arbor?
To live comfortably in Lake Arbor, Maryland, a minimum annual income of
$75,600 for a family, and
$78,000 for a single person is recommended.
What does A.I. say about Lake Arbor?
The cost of living in Lake Arbor, MD is relatively affordable compared to other cities in the region. The median home price is around $260,000, which is lower than the national average. Renting a one bedroom apartment typically starts at around $1,100 per month and a two bedroom unit runs around $1,500. Groceries are also reasonably priced with an average grocery bill totaling around $70 per week for two people. Residents benefit from low taxes and save on communte costs with many jobs located just minutes away from their home.