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: $288000
• 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 115.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $58349

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Baltimore, MD, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.