Essex, MD

Below Avg · 88

Maryland · Population 40,670 · Updated March 2026

$1,307
Median Rent / Month
$67,082
Median Income
$253,500
Median Home Value
$1,319
Owner Costs / Month

Affordability

How far your income goes in Essex

23.4%
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

$15,684
Annual Rent
$3,857
State Income Tax
$2,712
Property Tax (est.)

Cost of Living Overview

Essex offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 88 (where 100 equals the national median), Essex residents can expect to pay median rent of $1,307/month while earning a median household income of $67,082/year.

The median home value in Essex, MD is $253,500, with typical monthly owner costs around $1,319 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.4% 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 Essex.

Frequently Asked Questions

Common questions about living costs in Essex

What is the cost of living in Essex, MD?
The cost of living index in Essex, MD is 88 (US average = 100). Median monthly rent is $1,307, median household income is $67,082/year, and the median home value is $253,500.
Is Essex, MD affordable?
Yes, Essex is more affordable than the national average with a cost index of 88. The rent-to-income ratio is 23.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Essex, MD?
The median gross rent in Essex, MD is $1,307 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,684.
What is the median household income in Essex?
The median household income in Essex, MD is $67,082 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%.