Newark, MD Cost of Living


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Newark cost of living score
100.3
More expensive
0.3% higher
than the US average
10.3% lower
than the Maryland average
Newark, Maryland gets a BestPlaces Cost of Living score of 100.3, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 0.3% higher than the U.S. average and 10.3% higher than the average for Maryland.

Newark, MD

Housing costs in Newark?
A typical home costs $676,000, which is 99.9% more expensive than the national average of $338,100 and 74.2% more expensive than the average Maryland home, at $388,100. Renting a two-bedroom unit in Newark costs $960 per month, which is 32.9% cheaper than the national average of $1,430 and 68.8% cheaper than the state average of $1,620.

Can I afford Newark?
To live comfortably in Newark, Maryland, a minimum annual income of $129,600 for a family, and $32,800 for a single person is recommended.

What does A.I. say about Newark?
The cost of living in Newark, MD is generally lower than the national average. Residents can expect to pay relatively low prices for basic necessities such as groceries, housing, and utilities. Prices for housing are especially attractive with median prices for a three bedroom home being well below the national median of $231,200. Apartments in the area are priced similarly affordable with an average rent of $1,177 per month for a one-bedroom apartment. Utility costs in Newark are slightly above the national average but still relatively inexpensive compared to other areas. All in all, residents in Newark can enjoy an excellent quality of life at a very reasonable cost.
   Cost of living score
     CategoriesNewarkMarylandUnited States
  100.3111.8100.0
  105105.2100
  86.884.2100.0
  91.7124.1100.0
  $676,000$388,100$338,100
  107.4%105.6%100.0%
  84.9119.3100.0
  104.4112.5100.0

   100=National Average

   Average Rent by Bedroom Size
Crime
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