Honeygo, MD

Above Avg · 124

Maryland · Population 12,022 · Updated March 2026

$1,224
Median Rent / Month
$144,156
Median Income
$463,500
Median Home Value
$2,203
Owner Costs / Month

Affordability

How far your income goes in Honeygo

10.2%
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

$14,688
Annual Rent
$8,289
State Income Tax
$4,959
Property Tax (est.)

Cost of Living Overview

Honeygo has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 124 (where 100 equals the national median), Honeygo residents can expect to pay median rent of $1,224/month while earning a median household income of $144,156/year.

The median home value in Honeygo, MD is $463,500, with typical monthly owner costs around $2,203 including mortgage, insurance, and taxes. The median rent-to-income ratio of 10.2% 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 Honeygo.

Frequently Asked Questions

Common questions about living costs in Honeygo

What is the cost of living in Honeygo, MD?
The cost of living index in Honeygo, MD is 124 (US average = 100). Median monthly rent is $1,224, median household income is $144,156/year, and the median home value is $463,500.
Is Honeygo, MD affordable?
No, Honeygo is more expensive than the national average with a cost index of 124. The rent-to-income ratio is 10.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Honeygo, MD?
The median gross rent in Honeygo, MD is $1,224 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,688.
What is the median household income in Honeygo?
The median household income in Honeygo, MD is $144,156 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%.