Housing costs in Lutherville?
A typical home costs
$440,300, which is 30.2% more expensive than the national average of
$338,100 and 13.5% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in Lutherville costs
$1,460 per month, which is 2.1% more than the national average of
$1,430 and 11.0% cheaper than the state average of
$1,620.
Can I afford Lutherville?
To live comfortably in Lutherville, Maryland, a minimum annual income of
$84,240 for a family, and
$47,200 for a single person is recommended.
What does A.I. say about Lutherville?
The cost of living in Lutherville, MD is relatively high. Housing costs are significantly higher than the national average, with a median price of $534,650. Groceries and transportation expenses are also higher than the national average. The area has a high overall cost of living index of 130.7, which is 30.7 points above the US average. That being said, Lutherville offers an excellent quality of life with access to amenities such as great schools, parks, recreation centers and shopping. People looking for more affordable housing options may consider nearby towns such as Towson or Ellicott City where housing prices tend to be lower.