Cost of Living in Chevy Chase
Chevy Chase's cost of living runs genuinely, substantially above both the Maryland statewide average and the national figure, driven by extraordinary home values and Montgomery County's maximum local income tax rate.
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Learn moreHome values well above Maryland's own elevated average
Redfin's own 3-month median sale price ran $1.3M this pass, with a separately cited 2024 median property value of $1.25M (3.74x the national average) -- a real step up even from Maryland's own already-above-national housing costs (see maryland.js).
Montgomery County's maximum piggyback tax rate
Montgomery County sits at Maryland's 2026 maximum 3.30% local income tax rate, on top of the state's own 10-bracket structure reaching 6.5% -- an approximate combined top marginal rate near 9.8%.
An extraordinary median household income
Chevy Chase's median household income ($250,001) is genuinely extraordinary, reflecting its status as one of the DC metro's smallest, most affluent enclaves -- a real context for its otherwise striking cost figures.
A comparatively modest property tax rate offset by high values
Montgomery County's own effective property tax rate runs a comparatively modest 0.89%, but Chevy Chase's far-above-county-median home values mean the real dollar property tax bill runs substantially higher than the county's own median reference figure in practice.
Key takeaways
- Home values ($1.25M-$1.3M) run dramatically above both national and Maryland statewide averages.
- Montgomery County's 2026 maximum 3.30% local income tax rate applies directly, atop the state's 10-bracket structure.
- Extraordinary median household income ($250,001) provides real context for the elevated cost figures.
- A modest 0.89% property tax rate still produces a substantial real dollar bill given Chevy Chase's home values.
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