Cost of Living in Perryman, MD

With a cost of living index of 81, Perryman, MD is a very affordable place to live. Living here is 19% cheaper than the national average and 38% below the Maryland state average of 119. Perryman is a small community of 2,366 residents.

Housing costs are the biggest factor in Perryman's cost of living. The median monthly rent is $744 (44% below the US median of $1,319), and the median home value sits at $268,800 (12% below the national median of $304,900). At current prices, the median home costs roughly 6.3x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Perryman is $43,000, which is 43% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. 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 Perryman. 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.

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.