Takoma Park, MD, has a higher cost of living compared to the nationwide average. The overall cost of living index in Takoma Park is 125, which is 25% higher than the national average of 100. This increase is driven by higher housing costs, which are 50% above the national average. Other categories like groceries, utilities, transportation, healthcare, and miscellaneous expenses also contribute to the elevated cost of living in Takoma Park.
The cost of living in Takoma Park, MD, is notably higher than the nationwide average, which is set at 100. Housing costs in Takoma Park stand at 150, indicating a 50% increase over the national average. This significant rise suggests that potential residents should budget more for housing than they might be accustomed to if they are comparing to other areas.
Other expenses also reflect the higher cost of living in Takoma Park. Groceries cost 20% more, with an index of 120. Utilities, while slightly higher, are at 105, which is a 5% increase. Transportation costs 10% more, with an index of 110. Healthcare costs are also elevated, with an index of 115, marking a 15% increase. Miscellaneous expenses, including entertainment and personal care, are at 130, showing a 30% rise. These figures collectively highlight the higher expenses that one might encounter in Takoma Park compared to the national average.