Takoma Park, MD

Very High · 148

Maryland · Population 17,522 · Updated March 2026

$1,388
Median Rent / Month
$97,872
Median Income
$721,500
Median Home Value
$1,649
Owner Costs / Month

Affordability

How far your income goes in Takoma Park

17.0%
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

$16,656
Annual Rent
$5,628
State Income Tax
$7,720
Property Tax (est.)

Cost of Living Overview

Takoma Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 148 (where 100 equals the national median), Takoma Park residents can expect to pay median rent of $1,388/month while earning a median household income of $97,872/year.

The median home value in Takoma Park, MD is $721,500, with typical monthly owner costs around $1,649 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.0% 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 Takoma Park.

Frequently Asked Questions

Common questions about living costs in Takoma Park

What is the cost of living in Takoma Park, MD?
The cost of living index in Takoma Park, MD is 148 (US average = 100). Median monthly rent is $1,388, median household income is $97,872/year, and the median home value is $721,500.
Is Takoma Park, MD affordable?
No, Takoma Park is more expensive than the national average with a cost index of 148. The rent-to-income ratio is 17.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Takoma Park, MD?
The median gross rent in Takoma Park, MD is $1,388 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $16,656.
What is the median household income in Takoma Park?
The median household income in Takoma Park, MD is $97,872 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%.