Severn, MD

Very High · 149

Maryland · Population 58,041 · Updated March 2026

$2,082
Median Rent / Month
$130,627
Median Income
$465,600
Median Home Value
$2,182
Owner Costs / Month

Affordability

How far your income goes in Severn

19.1%
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

$24,984
Annual Rent
$7,511
State Income Tax
$4,982
Property Tax (est.)

Cost of Living Overview

Severn has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 149 (where 100 equals the national median), Severn residents can expect to pay median rent of $2,082/month while earning a median household income of $130,627/year.

The median home value in Severn, MD is $465,600, with typical monthly owner costs around $2,182 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.1% 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 Severn.

Frequently Asked Questions

Common questions about living costs in Severn

What is the cost of living in Severn, MD?
The cost of living index in Severn, MD is 149 (US average = 100). Median monthly rent is $2,082, median household income is $130,627/year, and the median home value is $465,600.
Is Severn, MD affordable?
No, Severn is more expensive than the national average with a cost index of 149. The rent-to-income ratio is 19.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Severn, MD?
The median gross rent in Severn, MD is $2,082 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,984.
What is the median household income in Severn?
The median household income in Severn, MD is $130,627 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%.