salaryRent is lower than in 52% of U.S. cities. A typical house costs about 6.4 years of household income, so buying is hard for most locals. Commutes are long, about 34 minutes each way. It is a highly educated city: 61.7% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $64,120 a year. That is $31 an hour at a full-time job.
Is rent cheaper than other Maryland cities?
Yes. Rent here is cheaper than in most of Maryland. It is number 34 of 200 cities from cheapest to most expensive.
How much do households earn in Takoma Park?
Share of households by yearly income. 45.4% of households earn $100,000 or more.
Rent by apartment size in Takoma Park
| Size | Takoma Park | U.S. average |
|---|---|---|
| Studio | $1,118 | $1,338 |
| 1 bedroom | $1,304 | $1,324 |
| 2 bedrooms | $1,736 | $1,509 |
| 3 bedrooms | $1,830 | $1,698 |
| 4 bedrooms | $3,500+ | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Takoma Park overall?
Everyday prices in Maryland overall are 5% above the U.S. average (index 105.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Takoma Park, so the Maryland figure is shown.
Taxes and bills in Takoma Park
Life in Takoma Park
Is it cheaper to rent or buy in Takoma Park?
Renting is cheaper right now: about $3,595 a month less.
Owning assumes a typical $749,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $74,920 for the down payment.
Frequently asked questions
What is the average rent in Takoma Park, MD?
Renting in Takoma Park costs a median of about $1,603 a month in 2026, including utilities. The Maryland median is $2,010.
How much do I need to make to live in Takoma Park?
To keep rent under 30% of income, you need about $64,120 a year, or $31 an hour at a full-time job.
Is Takoma Park cheap or expensive?
Takoma Park is rated Cheap: rent takes 16.5% of the typical household income of $116,625. It ranks 34th cheapest of 200 Maryland cities we track.
How much are property taxes in Takoma Park?
The median homeowner in Takoma Park pays $8,656 a year in property taxes, about 1.16% of the median home value.
Is Takoma Park more expensive than the national average?
Overall prices in Maryland are 5% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Takoma Park?
The median home value in Takoma Park is $749,200, about 6.4 times the typical yearly household income.
17,632 people live in Takoma Park. Numbers are typical (middle) values.