Maryland cost of living
Moving can be intimidating, whether you’re going across town or to a new state. It’s important to find a place that has the character, features and amenities that are important to you and your family.
It’s also important to know what the practical side looks like. Understanding the cost of living can help you narrow your search to find the place that best fits what you need and what you can afford.
The median rent in Maryland is $1,809.31, versus the national median rent of $1,529.01.
Jump to insightResidents in Maryland spend $266.11 weekly on food at home and $120.17 on food out.
Jump to insightAs of publishing, the average price per gallon of regular gas is $3.54 in Maryland.
Jump to insightRecent data shows that employees in Maryland pay $1,727 annually for employee-sponsored health insurance coverage.
Jump to insightHousing costs in Maryland
According to recent data from Zillow, the median rent in Maryland is $1,809.31, while the national median rent is $1,529.01.
Data from the U.S. Census Bureau shows rent prices in Maryland broken down by home size. As of publishing, one-bedroom apartments in Maryland had a median cost of $1,330 per month, and the two-bedroom median cost was $1,600 per month. Three- and four-bedroom homes had median costs of $1,776 and $1,980, respectively.
As of publishing, the median home price in Maryland is $496,000, according to Redfin. The U.S. median home price is $436,000.
In Maryland’s most populated city, Baltimore, the median home price was $385,000 in the first quarter of 2024, according to data from the National Association of Realtors (NAR). Less populated cities like Cumberland and Hagerstown had median home prices of $141,800 and $288,400, respectively.
Maryland ranks No. 20 for highest effective property tax rates in the nation, according to the most recent Tax Foundation data, at 1.05%.
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Food costs in Maryland
According to recent census data, the average spent on food to prepare at home each week in Maryland is $266.11, compared with the U.S. average of $270.21 at the time. Maryland residents spend an average of $120.17 weekly on food prepared outside the home, compared with the U.S. average of $109.21.
Transportation costs in Maryland
According to recent data from AAA, the average price per gallon of regular gas in Maryland is $3.54, compared with the U.S. average of $3.46.
The most recent National Association of Insurance Commissioners data shows that the average auto insurance premium (liability, collision and comprehensive coverage combined) in Maryland is $1,303.66, versus the national average of $1,189.50.
Public transportation costs
Public transit opportunities depend on where you live in Maryland. Baltimore came in at No. 19 in our 2024 ranking of cities with the best public transit and had an average fare of $1.07 in 2022.
Health care costs in Maryland
The most recent KFF data shows that, on average, employer-sponsored health insurance cost Maryland employees $1,727 annually, with employers covering the remaining $6,251 of the $7,978 total cost.
Nationwide, the average employee contribution was $1,637 out of a total premium of $7,590.
Utility costs in Maryland
According to the most recent data from the Energy Information Administration, the average monthly electric bill in Maryland is $139.99, versus $135.25 countrywide.
Recent EIA data also shows that natural gas in Maryland costs $15.20 per thousand cubic feet, compared with $13.25 nationally.
FAQ
What are the most expensive cities in Maryland?
Some of the most expensive cities in Maryland include Potomac, Bethesda, Chevy Chase and Ellicott City.
How much do I need to make to live in Baltimore, Maryland?
A single adult would need a salary of $65,761.34 to live comfortably in Baltimore in 2024, according to our study on income required to live in various major cities.
How much does it cost to move across the country?
If you’re moving more than 1,000 miles, it’s likely to cost you several thousand dollars to hire professional movers. Fortunately, there are ways to make your cross-country move cheaper.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Zillow, "Housing Data." Accessed May 14, 2024.
- Redfin, "Redfin Data Center." Accessed May 14, 2024.
- Tax Foundation, "Where Do People Pay the Most in Property Taxes?" Accessed May 14, 2024.
- United States Census Bureau, "Week 63 Household Pulse Survey: October 18 - October 30." Accessed May 14, 2024.
- AAA Gas Prices, "State Gas Price Averages." Accessed June 14, 2024.
- National Association of Insurance Commissioners, "2020/2021 Auto Insurance Database Report." Accessed May 14, 2024.
- KFF, "Average Annual Single Premium per Enrolled Employee For Employer-Based Health Insurance." Accessed May 14, 2024.
- U.S. Energy Information Administration, "2022 Average Monthly Bill- Residential." Accessed May 14, 2024.
