The cost of living in Crisfield, Maryland is much lower than the rest of the state of Maryland. While the state sales tax is 6%, in 2008, the estimated median household income was just $23,860. This figure is much lower than the median household income of $70,545 that represents that state of Maryland.
The estimated median house or condo value in 2008 for residents of Crisfield, Maryland was $159,773. There has been a significant rise in house and condo costs in Crisfield since 2000. In 2000 it was only $67,000. It is still lower than the median average for the state of Maryland, which was $341,200 in 2008. There were a total of 696 homes in Crisfield with a mortgage in 2000, but in 2008 there were only 552 homes with a mortgage.
The sales of homes in Crisfield, Maryland have dropped even more in the years between 2007 and 2010, overall. There was a small boom of home sales in late 2009. The cost of homes has not changed significantly during that time and currently the average house costs $140,000.
In December of 2009 the cost of living index for the Crisfield zip code, 21817, was 83.8. This can be compared with the state cost of living index, which is set at 100. Property taxes are also lower in Crisfeld when compared to the state of Maryland. Crisfeld residents pay an average of $685 a year while Maryland resident overall pay an average of $1,782 per year in home taxes.
In 2004 the average salary of residents of Crisfield, Maryland was $25,507. This is much lower than the state average of $52,211 a year. Other income reported from a variety of sources such as taxable interest, dividends, capital gains, and business reflects a similar trend of being much lower than state averages.