Housing costs in University Park?
A typical home costs
$602,800, which is 78.3% more expensive than the national average of
$338,100 and 55.3% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in University Park costs
$1,730 per month, which is 21.0% more than the national average of
$1,430 and 6.4% more than the state average of
$1,620.
Can I afford University Park?
To live comfortably in University Park, Maryland, a minimum annual income of
$115,560 for a family, and
$60,800 for a single person is recommended.
What does A.I. say about University Park?
University Park, MD is an expensive place to live. The cost of living in University Park is 37% higher than the national average, making it one of the most expensive areas in Maryland. Housing prices are on the rise, with the median home value in University Park sitting slightly above $400,000. Groceries and utilities are also more expensive than other parts of Maryland, putting a strain on residents' wallets. However, there are some advantages to living in this affluent community: excellent schools and proximity to nearby Washington D.C., Baltimore and Annapolis make up for the higher cost of living.