Parkville, MD

Average · 95

Maryland · Population 30,423 · Updated March 2026

$1,471
Median Rent / Month
$78,405
Median Income
$251,100
Median Home Value
$1,467
Owner Costs / Month

Affordability

How far your income goes in Parkville

22.5%
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

$17,652
Annual Rent
$4,508
State Income Tax
$2,687
Property Tax (est.)

Cost of Living Overview

Parkville has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 95 (where 100 equals the national median), Parkville residents can expect to pay median rent of $1,471/month while earning a median household income of $78,405/year.

The median home value in Parkville, MD is $251,100, with typical monthly owner costs around $1,467 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.5% 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 Parkville.

Frequently Asked Questions

Common questions about living costs in Parkville

What is the cost of living in Parkville, MD?
The cost of living index in Parkville, MD is 95 (US average = 100). Median monthly rent is $1,471, median household income is $78,405/year, and the median home value is $251,100.
Is Parkville, MD affordable?
Yes, Parkville is more affordable than the national average with a cost index of 95. The rent-to-income ratio is 22.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Parkville, MD?
The median gross rent in Parkville, MD is $1,471 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,652.
What is the median household income in Parkville?
The median household income in Parkville, MD is $78,405 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%.