Housing costs in Silver Spring?
A typical home costs
$474,200, which is 40.3% more expensive than the national average of
$338,100 and 22.2% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in Silver Spring costs
$1,820 per month, which is 12.3% more than the national average of
$1,620 and close to the state average of
$1,820.
Can I afford Silver Spring?
To live comfortably in Silver Spring (zip 20903), Maryland, a minimum annual income of
$90,720 for a family, and
$64,000 for a single person is recommended.
What does A.I. say about Silver Spring?
The cost of living in 20903 Silver Spring, MD is fairly high. This is due to its proximity to Washington D.C., which has a very high cost of living. On average, rents are quite expensive, with the median rent for a one-bedroom apartment coming in at $1,764 per month. Groceries and other everyday items such as transportation and utilities are also higher than average for the rest of the US. The overall cost of living index for this area is rated as 132.5, which is much higher than most cities across the US.