To live comfortably in a one-bedroom apartment in Baltimore, you should shoot for an income of at least $65,232 a year or $31.36 an hour. For a two-bedroom apartment, you’ll need to earn at least $75,960 a year or $39.52 an hour.
What is a good salary for Baltimore?
A good salary in Baltimore, MD is anything over $48,000. That’s because the median income in Baltimore is $48,000, which means if you earn more than that you’re earning more than 50% of the people living in Baltimore. The average salary in Baltimore is $56,858. A good hourly wage in Baltimore is $23.08 per hour.
What salary do I need to live comfortably in Maryland?
Living Wage Calculation for Maryland
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $19.74 | $26.40 |
| Poverty Wage | $6.19 | $6.37 |
| Minimum Wage | $12.50 | $12.50 |
What is the average household income in Baltimore MD?
Table
| Population | ||
|---|---|---|
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 31.1 | 26.9 |
| Income & Poverty | ||
| Median household income (in 2020 dollars), 2016-2020 | $52,164 | $64,994 |
| Per capita income in past 12 months (in 2020 dollars), 2016-2020 | $32,699 | $35,384 |
How expensive is Baltimore to live?
Baltimore’s housing expenses are 47% higher than the national average and the utility prices are 7% higher than the national average. Transportation expenses like bus fares and gas prices are 3% higher than the national average. Baltimore has grocery prices that are 7% higher than the national average.
What is considered middle class in Maryland?
Range of household incomes needed to be considered middle class, by family size
| State | Single | Couple |
|---|---|---|
| Maine | $25,676 – $77,028 | $36,311 – $108,934 |
| Maryland | $28,572 – $85,717 | $40,407 – $121,222 |
| Massachusetts | $28,129 – $84,386 | $39,780 – $119,340 |
| Michigan | $24,345 – $73,035 | $34,429 – $103,288 |
Is it cheaper to live in Baltimore?
On Numbeo’s cost of living index, which factors the cost of consumer goods such as groceries, restaurants, transportation, and utilities, Baltimore scored 72.23 out of 100, which means, as of March 2021, it’s about 28% less expensive than New York City, the index’s benchmark with a score of 100.
Is Baltimore an affordable city?
Fortunately, Baltimore is still a relatively affordable city to live in compared to northeast cities like New York and Washington DC.
What is upper middle class income near Maryland?
A family earning between $32,048 and $53,413 was considered lower-middle class. For high earners, a three-person family needed an income between $106,827 and $373,894 to be considered upper-middle class, Rose says. Those who earn more than $373,894 are rich.
What is middle class in Baltimore City?
The average annual household income in Baltimore City is $79,917, while the median household income sits at $55,304 per year. Residents aged 25 to 44 earn $60,458, while those between 45 and 64 years old have a median wage of $60,925.
Is Baltimore a poor city?
The poverty rate in Baltimore is 22.4%. One out of every 4.5 residents of Baltimore lives in poverty. How many people in Baltimore, Maryland live in poverty? 133,793 of 596,590 Baltimore residents reported income levels below the poverty line in the last year.
What is Baltimore poverty rate?
Table
| Population | |
|---|---|
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $52,164 |
| Per capita income in past 12 months (in 2020 dollars), 2016-2020 | $32,699 |
| Persons in poverty, percent | 20.0% |
Why is Baltimore rent so high?
Another contributor to high housing cost is Baltimore’s stock of aging rowhouses, which are expensive to maintain. That makes it likely that property owners will charge more for rent than they would for the larger, newer apartment buildings common elsewhere, Garboden said.
Is Philadelphia more expensive than Baltimore?
Highlights. Baltimore is 12.8% less expensive than Philadelphia. Baltimore housing costs are 25.5% less expensive than Philadelphia housing costs. Health related expenses are 8.9% less in Baltimore.
Is Baltimore a good place to live?
BALTIMORE CAN BE A DANGEROUS PLACE (BUT MAINLY IN CERTAIN AREAS) Is Baltimore a safe place to live? U.S. News & World Report ranked it as the 7th most dangerous metro area to live in out of 150 different U.S. metropolitan cities, though its comparatively high violent crime rates frequently find it on top-five lists.
What is the richest county in MD?
Howard County
With a median annual household income of $84,805, Maryland is the wealthiest state in the county — and Howard County, located within commuting distance of both Baltimore and Washington D.C., is the wealthiest county in the state.
What salary is upper class?
An upper class income is usually considered at least 50% higher than the median household income. Therefore, an upper class income in America is $100,000 and higher.
Is Maryland the richest state?
Maryland might have a relatively low median home value compared to many other places in the United States, but the Old Line State has the highest median household income in the country, making it the richest state in America for 2022.
What is Baltimore crime rate?
With a crime rate of 48 per one thousand residents, Baltimore has one of the highest crime rates in America compared to all communities of all sizes – from the smallest towns to the very largest cities. One’s chance of becoming a victim of either violent or property crime here is one in 21.
What is the cheapest place to live in MD?
Most Affordable Places to Live in Maryland
- Arbutus.
- Bel Air.
- Brunswick.
- Easton.
- Glenarden.
- White Marsh.
What state is the cheapest to live in?
Mississippi
Mississippi. Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.
