Silver Spring, MD

Very High · 157

Maryland · Population 82,129 · Updated March 2026

$1,899
Median Rent / Month
$98,880
Median Income
$619,400
Median Home Value
$1,997
Owner Costs / Month

Affordability

How far your income goes in Silver Spring

23.0%
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

$22,788
Annual Rent
$5,686
State Income Tax
$6,628
Property Tax (est.)

Cost of Living Overview

Silver Spring has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 157 (where 100 equals the national median), Silver Spring residents can expect to pay median rent of $1,899/month while earning a median household income of $98,880/year.

The median home value in Silver Spring, MD is $619,400, with typical monthly owner costs around $1,997 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.0% 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 Silver Spring.

Frequently Asked Questions

Common questions about living costs in Silver Spring

What is the cost of living in Silver Spring, MD?
The cost of living index in Silver Spring, MD is 157 (US average = 100). Median monthly rent is $1,899, median household income is $98,880/year, and the median home value is $619,400.
Is Silver Spring, MD affordable?
No, Silver Spring is more expensive than the national average with a cost index of 157. The rent-to-income ratio is 23.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Silver Spring, MD?
The median gross rent in Silver Spring, MD is $1,899 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,788.
What is the median household income in Silver Spring?
The median household income in Silver Spring, MD is $98,880 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%.