Housing costs in Smith Island?
A typical home costs
$130,300, which is 61.5% less expensive than the national average of
$338,100 and 66.4% less expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in Smith Island costs
$940 per month, which is 34.3% cheaper than the national average of
$1,430 and 72.3% cheaper than the state average of
$1,620.
Can I afford Smith Island?
To live comfortably in Smith Island, Maryland, a minimum annual income of
$24,840 for a family, and
$28,800 for a single person is recommended.
What does A.I. say about Smith Island?
The cost of living in Smith Island, MD is relatively low compared to other areas in Maryland. The median home cost in the area is around $125,000, which is significantly lower than the state average of $311,800. Groceries and other goods are relatively affordable as well, with a grocery index score of 94 meaning that prices are 6% lower than the national average. Utilities are also generally low cost due to the island's rural nature. All in all, Smith Island is a great place for those looking for an affordable place to live in the mid-Atlantic region.