Housing costs in Potomac?
A typical home costs
$1,099,000, which is 225.1% more expensive than the national average of
$338,100 and 183.2% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in Potomac costs
$2,780 per month, which is 71.6% more than the national average of
$1,620 and 34.5% more than the state average of
$1,820.
Can I afford Potomac?
To live comfortably in Potomac (zip 20854), Maryland, a minimum annual income of
$210,600 for a family, and
$97,600 for a single person is recommended.
What does A.I. say about Potomac?
The cost of living in 20854 Potomac, MD is quite high compared to other areas. According to BestPlaces, the cost of living index for the area is 132.2—nearly 20 points higher than the national average. As such, rent prices are high with a median price of $2,100 for a one bedroom apartment. The median household income in Potomac is also higher than the national average at $168,523 which helps to offset some of the expenses associated with living in this affluent area. Additionally, goods and services are also more expensive than in other parts of the country due to higher taxes and transportation costs. Despite this higher cost of living, many people appreciate being able to live close to Washington D.C., where they can enjoy an abundance of cultural activities and attractions within a short distance from home.