Cost of Living in Galena, MD

With a cost of living index of 85, Galena, MD is a very affordable place to live. Living here is 15% cheaper than the national average and 34% below the Maryland state average of 119. Galena is a small community of 766 residents.

Housing costs are the biggest factor in Galena's cost of living. The median monthly rent is $850 (36% below the US median of $1,319), and the median home value sits at $273,100 (10% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Galena is $87,188, which is 16% higher than the national median of $75,149. Residents spend roughly 12% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Galena. The area sees an average annual temperature of 55.2°F, with summers averaging 75°F and winters around 36°F. Annual rainfall totals 47.1 inches spread over roughly 0 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.