Quick facts: Laurel, MD

Quick Facts

115.0
Cost of Living
above US average
29,352
Population
34.41
Crime Rate per 1000
above US average
$92,035
Median Income
above US average
$475,000
Median House Price
above US average
$2330.82
Average Rent
above US average
9%
Poverty Rate
below US average
3.4%
Unemployment Rate
below 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 $92,035.

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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 $92,035
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Income Needed to Rent

⚠ Stretch
$100k/year
Based on $2330.82/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $100k vs median $92,035
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Laurel, MD

Laurel, Maryland, is a vibrant city located in Prince George's County, strategically nestled between the metropolitan hubs of Washington, D.C., and Baltimore. This diverse community boasts a rich history dating back to the 1800s, evident in its charming downtown area filled with historic buildings and local shops. Laurel is home to several parks, with the expansive Patuxent River Park offering ample opportunities for outdoor activities such as hiking, fishing, and picnicking. The city also features a variety of recreational facilities, including sports complexes and playgrounds, making it ideal for families and active residents. Culturally, Laurel hosts a variety of events and festivals throughout the year, promoting community engagement and celebrating the city's heritage. Its proximity to major highways and public transportation options provides easy access to the larger urban centers of D.C. and Baltimore, enhancing its appeal as a commuter town. With a mix of suburban charm and urban convenience, Laurel continues to grow and thrive, attracting new residents and businesses alike.

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