Housing costs in St. Michaels?
A typical home costs
$526,100, which is 55.6% more expensive than the national average of
$338,100 and 35.6% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in St. Michaels costs
$1,710 per month, which is 19.6% more than the national average of
$1,430 and 5.3% more than the state average of
$1,620.
Can I afford St. Michaels?
To live comfortably in St. Michaels, Maryland, a minimum annual income of
$100,800 for a family, and
$60,400 for a single person is recommended.
What does A.I. say about St. Michaels?
St. Michaels, MD is known for its high cost of living; however, it can be a great place to call home due to its beautiful setting and many amenities. The median home price in St. Michaels is $414,000, which is higher than the national average and more than double the median price of homes in Maryland overall. Additionally, the average cost of groceries in St. Michaels is higher than the national average as well. On the other hand, transportation costs are relatively low compared to other towns in Maryland as there are no personal vehicle taxes or tolls within St. Michaels itself and parking fees are inexpensive compared to those found in larger cities. All-in-all, living in St. Michaels comes with a hefty price tag but it can be worth it for those looking for peaceful waterfront views and access to plenty of outdoor activities in a quaint town setting.