Cost of Living in Henderson, MD

With a cost of living index of 75, Henderson, MD is one of the most affordable cities in the country. Living here is 25% cheaper than the national average and 44% below the Maryland state average of 119. Henderson is a small community of 148 residents.

Housing costs are the biggest factor in Henderson's cost of living. The median monthly rent is $1,063 (19% below the US median of $1,319), and the median home value sits at $76,900 (75% below the national median of $304,900). At current prices, the median home costs roughly 0.8x the median household income — well within traditional affordability guidelines.

The median household income in Henderson is $95,673, which is 27% higher than the national median of $75,149. Residents spend roughly 13% 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 Henderson. 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.

Everyday prices in the Baltimore-Columbia-Towson, MD (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.