Olney, MD

Very High · 182

Maryland · Population 36,000 · Updated March 2026

$2,409
Median Rent / Month
$171,766
Median Income
$632,400
Median Home Value
$2,484
Owner Costs / Month

Affordability

How far your income goes in Olney

16.8%
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

$28,908
Annual Rent
$9,877
State Income Tax
$6,767
Property Tax (est.)

Cost of Living Overview

Olney has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 182 (where 100 equals the national median), Olney residents can expect to pay median rent of $2,409/month while earning a median household income of $171,766/year.

The median home value in Olney, MD is $632,400, with typical monthly owner costs around $2,484 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.8% 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 Olney.

Frequently Asked Questions

Common questions about living costs in Olney

What is the cost of living in Olney, MD?
The cost of living index in Olney, MD is 182 (US average = 100). Median monthly rent is $2,409, median household income is $171,766/year, and the median home value is $632,400.
Is Olney, MD affordable?
No, Olney is more expensive than the national average with a cost index of 182. The rent-to-income ratio is 16.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Olney, MD?
The median gross rent in Olney, MD is $2,409 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $28,908.
What is the median household income in Olney?
The median household income in Olney, MD is $171,766 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%.