Forest Glen MD - Cost of living

Today, we're talking about the cost of living in Forest Glen. Forest Glen is just outside of the Beltway, which is 495. There's about 6,500 people there, just over 3,000 households. It's in Montgomery County and it ain't that big. It's a just 1.3 square miles. But according to niche.com, in a few different categories, they rate quite high. Forest Glen is the number nine place for young professionals, as well as the 12th best place to live in the state of Maryland and the 12th best suburbs to live in, in Maryland.

Transportation, it's just outside of the Beltway. Literally 495 is Forest Glen's backyard. Georgia Ave runs right through the heart of it as well, and that will take you into DC. In terms of public transportation, obviously in Montgomery County, you're going to have the ride on bus system, as well as the Forest Glen Metro Station here. This is the Red Line. It will take you right into DC. When it comes to working in Forest Glen, the median household income is sitting over $105,000. For an individual, it's up over $44,000. Both of those numbers are way higher than the national media numbers. Probably the largest employer in the area here is going to be Holy Cross Hospital. There's over 4,000 employees, about 1,500 doctors or so. It's the second largest hospital in the state.

Shopping, there's not a whole lot right here in Forest Glen because once again, it's 1.3 square miles. So it's not like there's a whole lot here. But if you just go just around the corner, you make a turn here, turn there, there's plenty of shopping for you. So you'll have the ALDIs, Snider's Super Foods. You can also have the Safeway that's going to be up near Westfield Wheaton. And there's also one in the Kensington shopping plaza. Speaking of Westfield Wheaton, there's a big shopping mall there. There's a Target and all that other stuff. So in terms of retail shopping, there's plenty of that stuff right there. You also have the Woodmoor Shopping Center. Ellsworth Place in Downtown Silver Spring is a very popular place to be when it comes to retail shopping as well as the Kensington Shopping Center.

Before, we talked about those median incomes and all that stuff for households and individuals and how they were way higher than the national averages. Well, you know what else is higher than the national averages here? Real estate values. Median home values are $461,000. Median rents are 1,550. Now compare those numbers to the national median home values of $217,000 and just over a thousand dollars. You make a lot of money, but then it's also not the cheapest place in America to live. Speaking of living here, 59% of the people who do live here own their homes. With home ownership comes property taxes. Now I always say, make sure that you check with your local tax assessor's office to make sure that you know exactly what your tax rate is as you are looking to purchase a house, but just reading off some average numbers here to give you an idea of what property taxes might look like if you were to buy in this area.

So from Montgomery County, the average county tax rate is 0.94%. And with that average median household value being $461,500, your average annual tax rate would look something in the $4,400 a year tax rate. So once again, make sure you check with your local tax assessor's office. Do your own homework and do your own numbers. These are just for informational purposes. These are not the gospel. If you live in Forest Glen and you would like to know what your house is worth in this current market, make sure where you click down below.

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