Silver Hill, Maryland

Silver Hill, MD is situated in the county #62.0 on the list Top 100 Healthiest Counties in America

Cost of living in Silver Hill, Maryland

  • Cost of living compated to USAthe highest
  • Cost of living compared to Marylandlow
  • Median household incomemoderate

Is it expensive to live in Silver Hill, Maryland? When calculating the cost of living in Silver Hill, Maryland we factor in state income tax rates, average housing rental prices, average property values, cost of living index, and more.

The cost of living in Silver Hill, Maryland is the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and lowAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Maryland, while median household income in Silver Hill is $58,262 which is moderate Analytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and the lowestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Maryland.

Taxes in Silver Hill, Maryland

The sales tax rate in Silver Hill, Maryland is 6.0%. Last year, the average property taxes paid was 1.3% Silver Hill, Maryland.

Here is the table with the State Income Taxes in the state of Maryland:

State Income Tax Brackets (Single):

Income Bracket Threshold Income Bracket Ceiling Maryland Income Tax Rate
$0 $1,000 2.0%
$1,000 $2,000 3.0%
$2,000 $3,000 4.0%
$3,000 $100,000 4.75%
$100,000 $125,000 5.0%
$125,000 $150,000 5.25%
$150,000 $250,000 5.5%
$250,000 $9,999,999 5.75%

State Income Tax Brackets (Married):

Income Bracket Threshold Income Bracket Ceiling Maryland Income Tax Rate
$0 $1,000 2.0%
$1,000 $2,000 3.0%
$2,000 $3,000 4.0%
$3,000 $150,000 4.75%
$150,000 $175,000 5.0%
$175,000 $225,000 5.25%
$225,000 $300,000 5.5%
$300,000 $9,999,999 5.75%

Housing costs in Silver Hill, Maryland

  • The average cost of a single-family home compated to USAhigh
  • The average cost of a single-family home compated to Marylandmoderate

In Silver Hill, Maryland, 30.0% of the population owns their homes, while approximately 70.0% rent. The average cost of a single-family home in Silver Hill, Maryland in 2022 is $339,602 which is highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and moderateAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Maryland. The average one-bedroom apartment cost is approximately $1,392 per month.

Rental SizeMonthly CostCompared to Maryland
1 Bedroom$1,392highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest
2 Bedroom$1,586moderateAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest
3 Bedroom$1,985moderateAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest
4 Bedroom$2,367moderateAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest