Cost of Living in Owings, MD

With a cost of living index of 125, Owings, MD is a notably expensive place to live. Living here is 25% more expensive than the national average and 5% above the Maryland state average of 119. Owings is a small community of 2,475 residents.

The median household income in Owings is $171,194, which is 128% higher than the national median of $75,149. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Owings. The area sees an average annual temperature of 57.7°F, with summers averaging 77°F and winters around 39°F. Annual rainfall totals 44 inches spread over roughly 0 days.

Everyday prices in the Lexington Park, 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.