Cost of Living in Greensboro, MD

With a cost of living index of 85, Greensboro, 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. Greensboro is a small community of 2,563 residents.

Housing costs are the biggest factor in Greensboro's cost of living. The median monthly rent is $974 (26% below the US median of $1,319), and the median home value sits at $230,600 (24% below the national median of $304,900). At current prices, the median home costs roughly 5.1x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Greensboro is $44,934, which is 40% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Greensboro. The area sees an average annual temperature of 57.6°F, with summers averaging 76°F and winters around 39°F. Annual rainfall totals 43.9 inches spread over roughly 132 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.