Cost of Living in Ocean City
Summary: If you are thinking about moving to Ocean City, here is an overview of the cost of living there.
Ocean City, known for its beaches and boardwalk, is a popular destination for tourists and a desirable place to live for those looking for a coastal lifestyle. The cost of living in Ocean City can be quite high, especially when it comes to real estate. Housing prices for 3-bedroom homes typically range from $500,000 to over $1 million, depending on the location, size, and proximity to the beach. Four-bedroom homes are even pricier, often starting at around $600,000 and can go well beyond $1.5 million for properties with prime locations and amenities.
Apartment rentals in Ocean City vary widely based on size, location, and seasonality. Year-round rentals can range from $1,000 to $2,500 per month for a 1 or 2-bedroom apartment. However, prices can be significantly higher for short-term summer rentals. Apartment purchases are also a significant investment, with smaller units starting around $300,000 and larger, more luxurious options exceeding $700,000.
Dining out in Ocean City offers a range of options, from casual eateries to upscale restaurants. A meal at an inexpensive restaurant might cost around $15 to $25 per person, while a three-course meal at a mid-range restaurant can set you back $50 to $80 per person, excluding drinks and gratuity. Fast food and takeout options are generally in line with national averages.
Utilities, including electricity, heating, cooling, water, and garbage, for a standard apartment can cost between $150 and $250 per month, depending on usage and the time of year, with costs potentially higher in the summer months due to air conditioning usage.
Private school tuition in Ocean City varies depending on the institution and the level of education. Preschool tuition can range from $5,000 to $10,000 per year. Elementary schools might charge between $5,000 and $15,000 per year, while middle and high schools can cost anywhere from $10,000 to over $20,000 annually. These prices are influenced by the school's reputation, facilities, and the breadth of programs offered.
| Item | Cost |
|---|---|
| 3-Bedroom Home Purchase | $500,000 - $1,000,000+ |
| 4-Bedroom Home Purchase | $600,000 - $1,500,000+ |
| Apartment Rental (Year-round) | $1,000 - $2,500/month |
| Apartment Purchase | $300,000 - $700,000+ |
| Inexpensive Restaurant Meal | $15 - $25/person |
| Mid-Range Restaurant Meal (3-course) | $50 - $80/person |
| Utilities (Monthly Average) | $150 - $250 |
| Private Preschool Tuition (Annual) | $5,000 - $10,000 |
| Private Elementary School Tuition (Annual) | $5,000 - $15,000 |
| Private Middle School Tuition (Annual) | $10,000 - $20,000+ |
| Private High School Tuition (Annual) | $10,000 - $20,000+ |
About the Author
Betsy Burlingame is one of the founders of BlueBurbia and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and BlueBurbia, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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