Housing costs in College Park?
A typical home costs
$413,800, which is 22.4% more expensive than the national average of
$338,100 and 6.6% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in College Park costs
$1,670 per month, which is 3.1% more than the national average of
$1,620 and 9.0% cheaper than the state average of
$1,820.
Can I afford College Park?
To live comfortably in College Park (zip 20740), Maryland, a minimum annual income of
$79,200 for a family, and
$58,800 for a single person is recommended.
What does A.I. say about College Park?
The cost of living in 20740 College Park, MD is relatively high compared to the average across the United States. The overall cost of living index is 115.1, which is 15.1% higher than the national average. Housing costs are particularly expensive, with a median home value of $430,000 and median rent of $2,100 per month. Prices for goods and services are also higher than the national average, such as groceries at 103.8 and transportation at 107.1. Despite these high prices, the unemployment rate in 20740 College Park is low (3%), and incomes tend to be above the national average as well which can help offset some of the expenses associated with living in this area.