Quick facts: College park, MD

Quick Facts

114.1
Cost of Living
above US average
34,190
Population
9.36
Crime Rate per 1000
below US average
$76,973
Median Income
below US average
$475,000
Median House Price
above US average
$2592.53
Average Rent
above US average
10%
Poverty Rate
below US average
5.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $76,973.

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Income Needed to Buy

βœ— Stretch
$149k/year
Based on $475,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $149k vs median $76,973
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Income Needed to Rent

⚠ Stretch
$111k/year
Based on $2592.53/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $111k vs median $76,973
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for College park, MD

College Park, MD, is a vibrant city located just north of Washington, D.C. Known primarily as the home of the University of Maryland, College Park boasts a lively atmosphere driven by its student population and diverse community. The university plays a significant role in the city's culture and economy, offering various events, sports, and educational opportunities. The city features several parks and recreational areas, such as the expansive Paint Branch Park and the nearby Greenbelt Park, which provide residents and visitors with ample outdoor activities. College Park is also well-connected through public transportation, including the Metro system, making it convenient for commuters traveling to the D.C. area. The local dining scene is diverse, with many restaurants offering international cuisine, catering to the tastes of students and locals alike. Additionally, the historic downtown area hosts various shops and boutiques, fostering a sense of community. With its blend of academic life, recreational spaces, and proximity to the nation's capital, College Park is an appealing destination for students, families, and professionals looking for a dynamic place to live and work.

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