Cost of Living in Silver Hill, MD

With a cost of living index of 109, Silver Hill, MD is somewhat more expensive than average. Living here is 9% more expensive than the national average and 10% below the Maryland state average of 119. Silver Hill is a smaller community of 5,068 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Silver Hill's cost of living. The median monthly rent is $1,569 (19% above the US median of $1,319), and the median home value sits at $283,900 (7% below the national median of $304,900). At current prices, the median home costs roughly 4.6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Silver Hill is $61,566, which is 18% lower than the national median of $75,149. Residents spend roughly 31% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

Climate is another factor for anyone considering a move to Silver Hill. The area sees an average annual temperature of 59.3°F, with summers averaging 79°F and winters around 40°F. Annual rainfall totals 41.8 inches spread over roughly 118 days.

Everyday prices in the Washington-Arlington-Alexandria, DC-VA-MD-WV (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.