College Park, MD

Very High · 133

Maryland · Population 34,397 · Updated March 2026

$1,846
Median Rent / Month
$74,867
Median Income
$429,000
Median Home Value
$1,870
Owner Costs / Month

Affordability

How far your income goes in College Park

29.6%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Maryland

State-level tax rates that affect your costs

5.75%
Income Tax (Top Rate)
6.0%
Sales Tax
1.07%
Property Tax Rate

Estimated Annual Costs

$22,152
Annual Rent
$4,305
State Income Tax
$4,590
Property Tax (est.)

Cost of Living Overview

College Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 133 (where 100 equals the national median), College Park residents can expect to pay median rent of $1,846/month while earning a median household income of $74,867/year.

The median home value in College Park, MD is $429,000, with typical monthly owner costs around $1,870 including mortgage, insurance, and taxes. With a rent-to-income ratio of 29.6%, College Park falls within the generally affordable range, though it's approaching the 30% burden threshold.

Maryland has a moderate income tax rate of 5.75%. Combined with a 6.0% sales tax rate and 1.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in College Park.

Frequently Asked Questions

Common questions about living costs in College Park

What is the cost of living in College Park, MD?
The cost of living index in College Park, MD is 133 (US average = 100). Median monthly rent is $1,846, median household income is $74,867/year, and the median home value is $429,000.
Is College Park, MD affordable?
No, College Park is more expensive than the national average with a cost index of 133. The rent-to-income ratio is 29.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in College Park, MD?
The median gross rent in College Park, MD is $1,846 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,152.
What is the median household income in College Park?
The median household income in College Park, MD is $74,867 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Maryland?
Maryland has a top income tax rate of 5.75%, a sales tax of 6.0%, and an effective property tax rate of 1.07%.