Cost of Living in Silver Spring, MD
Population 81,462 · Census ACS 2020–2024 5-year estimates
The median rent in Silver Spring, MD is $1,913/month, 12% higher than the Maryland median and 35% higher than the U.S. median. The median home value is $643,300, 93% higher than the national median. Households earn a median of $99,860 a year, 4% lower than the state median.
Affordability
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Silver Spring vs. Maryland vs. U.S.
| Silver Spring | Maryland | U.S. | |
|---|---|---|---|
| Median rent | $1,913 | $1,705 | $1,413 |
| Median home value | $643,300 | $419,900 | $332,700 |
| Median household income | $99,860 | $103,678 | $80,734 |
| Homeownership rate | 38.3% | 67.6% | 65.2% |
| Bachelor's degree or higher | 60.6% | 43.4% | 35.7% |
| Poverty rate | 10.6% | 9.4% | 12.5% |
| Unemployment rate | 5.4% | 4.9% | 5.2% |
| Work from home | 27.3% | 19.3% | 15.1% |
| Median age | 35.6 | 39.4 | 38.9 |
FAQ
What is the average rent in Silver Spring, MD?
The median gross rent in Silver Spring, MD is $1,913 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Silver Spring, MD?
Using the common 30% rule, renting a median-priced home takes about $76,520 a year in gross income.
Is Silver Spring, MD expensive to live in?
Rent there is 35% higher than the U.S. median, and the median home costs about 6.4 times the median household income.
Other cities in Maryland
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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