Laurel, MD

Above Avg · 127

Maryland · Population 29,594 · Updated March 2026

$1,878
Median Rent / Month
$94,063
Median Income
$367,300
Median Home Value
$1,902
Owner Costs / Month

Affordability

How far your income goes in Laurel

24.0%
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

$22,536
Annual Rent
$5,409
State Income Tax
$3,930
Property Tax (est.)

Cost of Living Overview

Laurel has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 127 (where 100 equals the national median), Laurel residents can expect to pay median rent of $1,878/month while earning a median household income of $94,063/year.

The median home value in Laurel, MD is $367,300, with typical monthly owner costs around $1,902 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.0% 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 Laurel.

Frequently Asked Questions

Common questions about living costs in Laurel

What is the cost of living in Laurel, MD?
The cost of living index in Laurel, MD is 127 (US average = 100). Median monthly rent is $1,878, median household income is $94,063/year, and the median home value is $367,300.
Is Laurel, MD affordable?
No, Laurel is more expensive than the national average with a cost index of 127. The rent-to-income ratio is 24.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Laurel, MD?
The median gross rent in Laurel, MD is $1,878 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,536.
What is the median household income in Laurel?
The median household income in Laurel, MD is $94,063 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%.