Oakland, MD, has a higher cost of living compared to the nationwide average. The housing index in Oakland stands at 120, indicating a 20% higher cost than the national benchmark of 100. Additionally, the utilities index of 110 shows a 10% increase. Although other categories like groceries, transportation, healthcare, and miscellaneous items remain closer to the national average, housing and utilities stand out as significantly more expensive.
Professional job seekers should consider these higher costs when planning their budget in Oakland, MD. While the overall cost of living is elevated, the differences in specific areas provide opportunities for strategic financial planning. Balancing housing and utility expenses with the more affordable categories may help mitigate the impact of a higher cost of living.
The cost of living in Oakland, MD, varies in several key areas compared to the nationwide average. Housing costs stand significantly higher, at 120 on the index. This means housing costs are 20% above the national average. Job seekers should be aware that finding a home or renting an apartment may require a larger portion of their budget.
Other expenses also show differences from the national average, which is set at 100. For groceries, the index is 95, indicating a 5% lower cost. Utilities, however, are 10% higher, with an index of 110. Transportation costs come in at 105, meaning they are 5% higher than average. Healthcare costs are 10% lower, with an index of 90, which might offer some relief. Miscellaneous costs also reflect the national average, sitting at 95. These variations show a mixed picture, with some areas being less costly while others are more expensive.
