Cost of Living in Baltimore, MD

Population 577,193 · Maryland · Data vintage 2023

Cost Index
(100 = US avg)

Page updated: April 2026 · Data vintage: 2023 ACS 5-Year

Sources: Census ACS·BLS·NOAA·EPA·Zillow · Methodology

As one of the larger cities in Maryland, Baltimore carries the economic weight typical of a major metro — diversified employment, a broader housing market, and household incomes around $59,623 that reflect a mix of high and low earners. A poverty rate near 20% adds context to the income figures — well above the US average, and worth factoring into any comparison with cities on the coasts or in the Rockies.

Cost Overview

Housing 72

Rent 98

Scale: 100 = US national average. Green < 90, Red > 110.

About the Cost of Living in Baltimore

The median home value in Baltimore is $219,300 — 28% below the national median of $305,000. Median rent runs $1,290/month, 2% lower than the national median of $1,314/month. The median household income of $59,623/year is 20% lower than the US median of $74,580. The local unemployment rate is 6.5%, above the national average of 4.8%. Maryland's top state income tax rate is 5.8% and the combined sales tax is 6.0%. The climate averages highs of 67.2°F and lows of 51.1°F. Overall, Baltimore has a cost of living index of 82 versus the US average of 100, meaning it is 18% less expensive.

🏠 Housing

Median Home Value

$219,300

28% below avg

Zillow Home Value

$187,545

Zillow ZHVI

Median Rent

$1,290/mo

2% below avg

Zillow Rent

$1,708/mo

Zillow ZORI

Price-to-Rent Ratio

14.2x

Favors buying

Property Tax Rate

1.1%

Effective rate

HUD Fair Market Rents by Bedroom

Studio

$1,407

1 BR

$1,604

2 BR

$1,898

3 BR

$2,407

4 BR

$2,822

Owner-occupied 47.5%

Renter-occupied 52.5%

💰 Estimated Monthly Budget

Rent median rent

$1,290

Groceries national estimate

$400

Utilities local estimate

$88

Transportation local gas prices

$126

Estimated Total $1,904/mo

Estimates based on median data and national averages. Actual costs vary.

🛒 Food & Groceries

National BLS average prices (2023). Local prices may vary.

🥚

Eggs (dozen)

$0.548

🍞

White Bread (lb)

$1.912

🥩

Ground Beef (lb)

$5.61

🚗 Transportation

Avg Commute

31.9 min

18% above avg

Gas Price

$3.145/gal

0% below avg

Work From Home

15.9%

Commute Mode

Drove alone

56.8%

Carpooled

6.9%

Public transit

11.5%

Walked

5.6%

Bicycle

0.6%

Work from home

15.9%

⚡ Utilities

Electricity

$0.176/kWh

0% below avg

📋 Taxes

State Income Tax 5.8%

Total Sales Tax 6.0%

State rate 6.0%

Avg local rate 0.0%

Property Tax 1.1%

💼 Income & Employment

Median Household Income

$59,623

20% below avg

Per Capita Income

$39,195

Unemployment Rate

6.5%

36% above avg

Poverty Rate

20.1%

Labor Force Participation

62.5%

🎓 Education

Bachelor's degree+ 18.1%

Graduate degree 17.3%

👥 Demographics

Median Age 36.1

Male median age 34.8

Female median age 37.3

🌤 Climate

NOAA 1991–2020 Climate Normals

Avg High

67.2°F

Avg Low

51.1°F

Annual Precip

43.7"

Month	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
High °F	44	47	55	67	76	85	90	87	80	69	58	48
Low °F	30	32	39	48	58	68	73	71	65	53	43	35
Precip"	3.07	2.75	3.93	3.55	3.39	3.36	4.71	4.35	4.49	3.49	2.98	3.66

🏫 Schools

NCES CCD 2019 — public school district data

70%

4-Year Graduation Rate

16.1:1

Student-teacher ratio

162

Public schools

79,187

Total enrollment

Frequently Asked Questions

What is the cost of living in Baltimore, MD?

Baltimore has a cost index of 82 (100 = national average). It is 18% below the national average.

What is average rent in Baltimore, MD?

The median gross rent in Baltimore is $1,290 per month based on 2023 Census data.

What is the average home price in Baltimore?

The median home value in Baltimore is $219,300 according to Zillow and Census data.

What is the median income in Baltimore?

The median household income in Baltimore is $59,623 per year (2023 ACS 5-year estimates).

What is the sales tax in Baltimore, MD?

The combined state and local sales tax rate in Baltimore is 6.0%. The Maryland state income tax top rate is 5.8%.

Is Baltimore, MD affordable?

Yes, Baltimore is generally considered affordable, with a cost of living index of 82 — about 18% below the US national average of 100.

What is the weather like in Baltimore?

Baltimore has average high temperatures of 67.2°F and average lows of 51.1°F. Annual precipitation is 43.7". Data from NOAA 1991–2020 Climate Normals.

Baltimore at a Glance

Population: 577,193
Median Income: $59,623
Home Value: $219,300
Median Rent: $1,290/mo
Unemployment: 6.5%
Avg High Temp: 67.2°F
Sales Tax: 6.0%

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