Hampstead, MD, shows a higher cost of living compared to the nationwide average. The overall cost of living index in Hampstead is 106, which is 6% above the national average of 100. This increase is primarily driven by housing costs, which are 20% higher than the national average.
Transportation costs also contribute to the elevated cost of living, standing at 10% above the average. Despite these increases, other categories like groceries, utilities, healthcare, and miscellaneous expenses remain close to the national average, showing a relatively balanced cost structure across different living areas.
Hampstead, MD, shows a higher cost of living in several key areas compared to the nationwide average. The housing index stands at 120, indicating that housing costs are 20% higher than the national average. This means that residents of Hampstead will likely spend more on rent or mortgage payments than the average American. Additionally, groceries in Hampstead are priced at 105, which is 5% above the average. This suggests that everyday food expenses are slightly higher here.
Transportation costs in Hampstead are also above the average, with an index of 110, meaning they are 10% higher. This could reflect higher fuel prices or increased public transport fares. Utilities, however, are slightly below the national average at 95, which means residents spend 5% less on utilities. Healthcare costs remain in line with the national average at 100, offering no significant cost advantage or disadvantage. Miscellaneous expenses are also slightly above average at 102, indicating a 2% increase in other living costs. Overall, Hampstead presents a mixed picture with some areas of higher cost and others that are more affordable.
