Kensington, MD, has a higher cost of living compared to the nationwide average. The cost of living index in Kensington stands at 130, which is 30% higher than the national average of 100. This increase is largely driven by housing, which is 80% above the national average. Other categories like groceries, utilities, and healthcare also show significant increases, making Kensington a more expensive place to live.
The cost of living in Kensington, MD, significantly exceeds the nationwide average, which is set at 100. Housing costs in Kensington are notably higher, with an index of 180. This means housing expenses are 80% more than the national average. For job seekers, this could mean budgeting for higher rents or mortgage payments.
Other expenses in Kensington also surpass the average. Groceries have a cost of living index of 115, indicating a 15% increase over the national average. Utilities are 10% higher, with an index of 110. Transportation costs are slightly above average, at 105, which is a 5% increase. Healthcare costs are 20% higher, with an index of 120, while miscellaneous expenses are 25% higher, at 125. These figures highlight the need for careful financial planning for those considering a move to Kensington, MD.