Cost of Living in Monrovia, MD
Housing
The housing market plays a significant role in determining the cost of living in Monrovia, MD.
- Housing Index: 119.8 / 100
- Median Home Price is: $470,000
- Average Rent (2 BR Apartment): $1928 per month
- Average Rent (2 BR House): $2096 per month
Analyzing the housing data for Monrovia, MD, we see a stagnant housing index of 119.8, accompanied by a median home price of 470000, suggesting a high entry point for potential homebuyers. The absence of average rent figures for a 2-bedroom apartment and house indicates either a lack of rental inventory or a highly competitive leasing market. For relocation consideration, it's crucial to compare your budget against the solid home pricing and to investigate local amenities and job markets that can contribute to your cost of living in this area.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Monrovia, MD.
- Electricity Price: $17.41 USD (median by state)
- Natural Gas Price: $18.44 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $252 per month
Living in Monrovia, MD could entail higher utility costs. Electricity costs sit at $17.41, while natural gas is priced at $18.44 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $252 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Monrovia is a financially viable option for your relocation.