Cost of Living in Maryland

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2019 Cost of Living Index

Index Maryland USA Grocery 103.1 100 Healthcare 97 100 Housing 151 100 Utilities 122 100 Transportation 139 100 Miscellaneous 105 100 Total 125 100

Cost of living is the expected day to day expenses of individuals and families in a particular area to maintain a certain quality of life. There are several factors affecting the total amount one would expect to spend. Getting a clear image of this number will allow people who plan to move into the region identify if moving would be the right decision for them.

The above table showcases the average cost of living indicators for the state of Maryland. The country is scored at a standard of 100 which showcases the average in the country. Maryland is typically a more expensive place to live in compared to the national average.

Housing

Housing is one of the most expensive factors affecting the cost of living for residents living in Maryland. The small land area of the state and many expensive residential developments significantly influence the price of homes in the region. The average listing price in the state is $649,953 in its most expensive county and $103,360 in the most affordable county.

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Utilities

The average monthly utility bill in Maryland according to the U.S. Energy Information Administration (EIA) is $139.68 which is 22% higher than the national average. This is also higher compared to nearby states including Delaware, $126.26, Virginia, $130.04, and Pennsylvania, $113.72.

Food and Groceries

Food items and groceries are quite affordable in the state of Maryland which is a little bit higher than the national average. Families can save a good amount of money if they decide to cook their meals at home as restaurants can be quite expensive in the region. Other food items are fairly affordable with various items relatively cheaper compared to the median family income of Maryland. Sample costs for items in the area include milk which is $0.61 - $1.12, a dozen eggs is $1.85 - $3.00, a kilo (2.20 lbs) of chicken breast $5.49 - $15.43, a kilo of beef $11.02 - $16.53, and a kilo of apples $3.31 - $6.61.

Transportation

There are excellent public transportation options available to residents in Maryland especially in the city of Baltimore. A 30-day public transit pass costs $68, while an express bus service pass is $85. A gallon of gas in the state is $1.84 which is around 3% higher than the national average. The cost of a license for residents in the region is around $6 per year.

Taxes

Income tax in Maryland range between 2% to 5.75% while county tax ranges from 1.25% to 3.2%. Maryland has a sales tax of 6% and the average property tax rate is 1.04%.

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