Housing costs in Silver Spring?
A typical home costs
$624,300, which is 84.6% more expensive than the national average of
$338,100 and 60.9% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in Silver Spring costs
$2,130 per month, which is 31.5% more than the national average of
$1,620 and 14.6% more than the state average of
$1,820.
Can I afford Silver Spring?
To live comfortably in Silver Spring (zip 20910), Maryland, a minimum annual income of
$119,520 for a family, and
$75,200 for a single person is recommended.
What does A.I. say about Silver Spring?
The cost of living in Silver Spring, MD is slightly higher than the national average due to its close proximity to Washington, D.C. The median home price in the area is $409,400 according to Zillow and the median rent is around $2,000 per month. Despite these costs being higher than other areas, Silver Spring offers a range of amenities such as restaurants, nightlife, and shopping which all contribute to the cost of living in this area. Additionally, with great public transportation options such as the Metrobus and Metrorail systems nearby it makes commuting around Maryland convenient and affordable for residents.