Baltimore, Maryland is a vibrant city with a rich history and culture. It is also a relatively affordable place to live, with a cost of living that is 8% higher than the national average. This makes it a great option for people who are looking for a city with a lower cost of living without sacrificing amenities or opportunities.
Key Facts
- Housing: The housing expenses in Baltimore are 9% higher than the national average. The median home price in Baltimore is $491,946, and the median rent is $1,496 per month.
- Utilities: Utility prices in Baltimore are 5% higher than the national average. This includes expenses like energy bills, which average around $184.78 per month, and phone bills, which average around $198.78 per month.
- Transportation: Transportation expenses in Baltimore, including bus fares and gas prices, are 1% higher than the national average.
- Food and Grocery: Grocery prices in Baltimore are 14% higher than the national average.
- Healthcare: Healthcare costs in Baltimore are 10% lower than the national average.
Housing
Housing is one of the biggest expenses for most people, and it is important to factor in when considering the cost of living in a new city. In Baltimore, the median home price is $491,946, and the median rent is $1,496 per month. These prices are higher than the national average, but they are still relatively affordable compared to other major cities.
Utilities
The cost of utilities in Baltimore is 5% higher than the national average. This includes expenses like energy bills, which average around $184.78 per month, and phone bills, which average around $198.78 per month.
Transportation
Transportation expenses in Baltimore, including bus fares and gas prices, are 1% higher than the national average. This makes it relatively easy to get around the city without spending a lot of money.
Food and Groceries
Grocery prices in Baltimore are 14% higher than the national average. This means that you will need to budget more for food if you are moving to Baltimore from a less expensive area.
Healthcare
Healthcare costs in Baltimore are 10% lower than the national average. This makes it a great place to live for people who are looking for affordable healthcare.
Conclusion
Overall, the cost of living in Baltimore is 8% higher than the national average. This makes it a relatively affordable place to live, especially for people who are looking for a city with a lower cost of living without sacrificing amenities or opportunities.
Sources
FAQs
What is the cost of living in Baltimore, Maryland?
The cost of living in Baltimore is 8% higher than the national average.
What is the median home price in Baltimore?
The median home price in Baltimore is $491,946.
What is the median rent in Baltimore?
The median rent in Baltimore is $1,496 per month.
Are there any other major expenses to consider when living in Baltimore?
In addition to housing, other major expenses to consider when living in Baltimore include utilities, transportation, food and groceries, and healthcare.
What is the average cost of utilities in Baltimore?
The average cost of utilities in Baltimore is 5% higher than the national average.
What is the average cost of transportation in Baltimore?
The average cost of transportation in Baltimore is 1% higher than the national average.
What is the average cost of food and groceries in Baltimore?
The average cost of food and groceries in Baltimore is 14% higher than the national average.
What is the average cost of healthcare in Baltimore?
The average cost of healthcare in Baltimore is 10% lower than the national average.