Median rent is 6% lower in New York ($1,779/mo vs $1,899/mo). Buying is cheaper in Silver Spring, where the median home runs $619,400 versus $751,700. Households earn more in Silver Spring ($98,880 vs $79,713 a year).
City A
New York, NY
City B
Silver Spring, MD
How much would you need to earn in Silver Spring, MD to maintain your standard of living from New York, NY?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
New York
New York
Silver Spring
Maryland
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in New York at $1,779/mo compared to $1,899/mo in Silver Spring (6% gap). Median home values are within 18% of each other: $751,700 in New York and $619,400 in Silver Spring.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
New York's top income tax rate is 10.90% versus 5.75% in Maryland, so Silver Spring is more tax-friendly for high earners. Sales tax is 4.00% in New York and 6.00% in Maryland; New York has the lower rate (local add-ons may apply in both).
New York
Income tax: 10.90%
Sales tax: 4.00%
Silver Spring
Income tax: 5.75%
Sales tax: 6.00%
Air quality data is available for New York (avg AQI 61.0) but not yet for Silver Spring.
Pick Silver Spring if you prioritize higher median household income ($98,880/yr).
Pick Silver Spring if you prioritize lower state income tax (5.75%).
Is New York cheaper than Silver Spring?
Cost of living index data is not yet available for one or both cities.
How much is rent in New York vs Silver Spring?
Median rent is $1,779/mo in New York, NY and $1,899/mo in Silver Spring, MD. New York, NY has the lower rent by about 6%.
Which has higher salaries — New York or Silver Spring?
Median household income is $79,713 in New York, NY and $98,880 in Silver Spring, MD. Silver Spring, MD has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — New York or Silver Spring?
New York's top income tax rate is 10.90% and Maryland's is 5.75%. Silver Spring, MD has the lower rate.
What salary do I need in Silver Spring to match my New York income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology