How much does it cost to live in Cloverly, Maryland?
Cloverly is a beautiful community located in Montgomery County, Maryland. It’s a peaceful, suburban area just a short distance from Washington, D.C., making it perfect for people who want the convenience of city amenities with a quieter lifestyle. With great schools, parks, and a welcoming atmosphere, it’s no wonder many families and professionals are considering a move to Cloverly. But how much does it cost to live here? Let’s break it down!
How Much Does Housing Cost in Cloverly, Maryland?
The cost of homes in Cloverly varies depending on the type of property and neighborhood. The average price for a single-family home is about $600,000, while townhomes are more affordable at around $450,000. If you're looking for a condo, prices typically fall in the range of $300,000 to $350,000. Homes in more desirable areas like the neighborhoods close to Ednor Gardens or near major parks can climb even higher.
Right now, Cloverly is a competitive real estate market, with home prices trending upward. To get a better understanding of Maryland home values, visit the Maryland Realtors website.
How Much Does It Cost to Rent in Cloverly, Maryland?
If you’re planning to rent, you’ll find a variety of options in Cloverly. The average price to rent a two-bedroom apartment is about $1,800 per month. Larger single-family homes typically rent for $2,500 to $3,000 per month. Townhomes in popular rental areas, such as near Spencerville Road, usually cost around $2,200 monthly.
Rental costs have remained steady over the past couple of years but tend to increase slightly each year due to demand in the area.
What Are the Utility Costs in Cloverly, Maryland?
Utilities in Cloverly are pretty standard for the region. On average, residents pay about $150 per month for electricity, $50 for water, and $20–$50 for sewage. Natural gas bills generally range from $60–$100 per month, depending on the season. Internet service costs around $60–$80 monthly, depending on the provider.
Popular utility providers in the area include:
- Electricity: Pepco – www.pepco.com
- Water and Sewage: WSSC Water – www.wsscwater.com
- Gas: Washington Gas – www.washingtongas.com
For further details on utility companies in the area, visit the Maryland Public Service Commission.
What Are the Taxes Like in Cloverly, Maryland?
Property taxes in Cloverly are approximately 0.94% of a home’s value. For a $600,000 home, that would be about $5,640 per year. Maryland also has a state income tax ranging from 2% to 5.75%, depending on income, and a sales tax rate of 6%.
To learn more about Maryland taxes, visit the Maryland Department of Assessments and Taxation.
What Are the Transportation Costs in Cloverly, Maryland?
Many Cloverly residents rely on cars for transportation. Gas prices in the area average around $3.80 per gallon. Commuting to Washington, D.C., takes about 40–50 minutes by car, depending on traffic. Public transportation options include Metrobus, with fares starting at $2.00 per ride. For car insurance, expect to pay around $1,200–$1,600 per year on average.
How Much Do Groceries and Dining Out Cost in Cloverly?
Groceries typically cost around $400–$600 per month for a family of four, depending on where you shop. Dining out in Cloverly is also reasonably priced. A casual meal at a local restaurant might cost around $15–$20 per person, while a fast-food combo meal averages $8–$10.
What Are the Entertainment and Leisure Costs in Cloverly, Maryland?
Fitness enthusiasts in Cloverly can expect to pay around $30–$60 per month for a gym membership. For family fun, local events at Brookside Gardens or movie nights at nearby cinemas cost about $10–$15 per ticket. Popular attractions also include trails and recreational activities at Wheaton Regional Park, offering affordable and fun outdoor options.
Frequently Asked Questions About the Cost of Living in Cloverly, Maryland
Q: Is Cloverly, Maryland an affordable place to live?
A: Cloverly offers a mix of affordability and quality of life. While housing costs can be higher compared to some areas, the peaceful community and amenities make the expenses worthwhile.
Q: What is a good salary to live in Cloverly, Maryland?
A: To live comfortably in Cloverly, a yearly salary of around $80,000–$100,000 is recommended, depending on your family size and lifestyle.
Q: How does the cost of living in Cloverly, Maryland compare to other cities?
A: The cost of living in Cloverly is slightly higher than the Maryland average but lower than bustling areas like Bethesda or Rockville.
Q: What is the most expensive neighborhood in Cloverly, Maryland?
A: The Ednor Gardens area is one of the most expensive neighborhoods, with spacious homes and lots of amenities nearby.
Q: What is the cheapest neighborhood in Cloverly, Maryland?
A: Homes near Norwood Road are usually more affordable, offering a mix of smaller homes and rentals perfect for budget-conscious residents.
