Cost of Living in Takoma Park, MD
Population 17,522 · Maryland · Data vintage 2023
(100 = US avg)
Housing in Takoma Park sits 137% above the national median — $722,000 for the typical home — but median household incomes near $97,872 (31% above the US figure) soften the blow that similar pricing creates in lower-wage metros.
Geographically, Takoma Park sits roughly 5 miles north of Washington. Housing prices track closely with Washington's $725,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Takoma Park
The median home value in Takoma Park is $721,500 — 137% above the national median of $305,000. Median rent runs $1,388/month, 6% higher than the national median of $1,314/month. The median household income of $97,872/year is 31% higher than the US median of $74,580. The local unemployment rate is 4.6%, below the national average of 4.8%. Maryland's top state income tax rate is 5.8% and the combined sales tax is 6.0%. Overall, Takoma Park has a cost of living index of 184 versus the US average of 100, meaning it is 84% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Takoma Park, MD?
Takoma Park has a cost index of 184 (100 = national average). It is 84% above the national average.
What is average rent in Takoma Park, MD?
The median gross rent in Takoma Park is $1,388 per month based on 2023 Census data.
What is the average home price in Takoma Park?
The median home value in Takoma Park is $721,500 according to Zillow and Census data.
What is the median income in Takoma Park?
The median household income in Takoma Park is $97,872 per year (2023 ACS 5-year estimates).
What is the sales tax in Takoma Park, MD?
The combined state and local sales tax rate in Takoma Park is 6.0%. The Maryland state income tax top rate is 5.8%.
Is Takoma Park, MD affordable?
Takoma Park is above average in cost of living, with an index of 184 — about 84% higher than the national average.
Takoma Park at a Glance
- Population
- 17,522
- Median Income
- $97,872
- Home Value
- $721,500
- Median Rent
- $1,388/mo
- Unemployment
- 4.6%
- Sales Tax
- 6.0%
Nearby Cities
Explore county-level cost of living data
Maryland Rankings
Similar Cost Cities
Cities in other states with comparable housing costs