Elkridge, MD

Very High · 151

Maryland · Population 26,183 · Updated March 2026

$2,206
Median Rent / Month
$135,412
Median Income
$438,200
Median Home Value
$2,255
Owner Costs / Month

Affordability

How far your income goes in Elkridge

19.5%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

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

$26,472
Annual Rent
$7,786
State Income Tax
$4,689
Property Tax (est.)

Cost of Living Overview

Elkridge has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 151 (where 100 equals the national median), Elkridge residents can expect to pay median rent of $2,206/month while earning a median household income of $135,412/year.

The median home value in Elkridge, MD is $438,200, with typical monthly owner costs around $2,255 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.5% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

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 Elkridge.

Frequently Asked Questions

Common questions about living costs in Elkridge

What is the cost of living in Elkridge, MD?
The cost of living index in Elkridge, MD is 151 (US average = 100). Median monthly rent is $2,206, median household income is $135,412/year, and the median home value is $438,200.
Is Elkridge, MD affordable?
No, Elkridge is more expensive than the national average with a cost index of 151. The rent-to-income ratio is 19.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Elkridge, MD?
The median gross rent in Elkridge, MD is $2,206 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $26,472.
What is the median household income in Elkridge?
The median household income in Elkridge, MD is $135,412 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%.