Cost of Living in Baltimore, MD
Housing
The housing market plays a significant role in determining the cost of living in Baltimore, MD.
- Housing Index: 125.0 / 100
- Median Home Price is: $288,000
- Average Rent (2 BR Apartment): $2200 per month
- Average Rent (2 BR House): $2240 per month
When considering a move to Baltimore, MD, it's essential to evaluate its demographic and economic factors. With a population of and a median age of , this city showcases a diverse community. The median income stands at , reflecting varying economic backgrounds, but the 16% poverty level is a concern that hints at socio-economic challenges. Additionally, an unemployment rate of signifies a relatively stable job market. Furthermore, if you value family-oriented environments, the 23% of married families can be appealing. Researching these factors can significantly assist in making an informed decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Baltimore, MD.
- Electricity Price: $17.41 USD (median by state)
- Natural Gas Price: $18.44 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Baltimore, MD could entail higher utility costs. Electricity costs sit at $17.41, while natural gas is priced at $18.44 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Baltimore is a financially viable option for your relocation.