What Is The Median Salary In Baltimore?

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How much does the average person make in Baltimore?

A person working in Baltimore typically earns around 97,100 USD per year. Salaries range from 24,600 USD (lowest average) to 434,000 USD (highest average, actual maximum salary is higher). This is the average yearly salary including housing, transport, and other benefits.

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.

How much do you need to live comfortably in Baltimore?

What Salary Do I Need to Live in Baltimore? 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 in Maryland?

In 2021, Maryland workers averaged a per capita personal income of $69,266 a year, higher than the national average of $63,445 a year. Maryland workers were paid about $1,338 per week, while the national average salary was approximately $1,220 per week.

Is Baltimore expensive to live?

BALTIMORE (WJZ) — Baltimore City ranks among the most expensive cities to live in. A new study finds Baltimore is the 46th most expensive. The average cost of living is a little more than $2,000 a month.

What is considered upper middle class income in 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 considered middle class in Maryland?

Range of household incomes needed to be considered middle class, by family size

Is Baltimore cheap to live?

Baltimore’s housing expenses are 14% higher than the national average and the utility prices are 6% higher than the national average. Transportation expenses like bus fares and gas prices are 2% higher than the national average. Baltimore has grocery prices that are 10% higher than the national average.

What salary do you need to live comfortably in Maryland?

Typical Expenses

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 it cheaper to live in Virginia or Maryland?

Maryland is 3.7% more expensive than Virginia.

What is the best place to live in Baltimore?

• Canton.
• Fells Point & East Harbor.
• Federal Hill.
• Hampden.
• Towson.
• South Baltimore.
• Parkville. Perfect for young couples and professionals looking for a homey vibe and nature-filled parks.
• Roland Park. Perfect for those that enjoy a charming and serene neighborhood and don’t mind being on the outskirts of Baltimore.

What is the wealthiest county in MD?

ranked sixth richest county in the nation by U.S. News & World Report.

How much is 60k a year after taxes in Maryland?

$46,706 per year
If you make $60,000 a year living in the region of Maryland, USA, you will be taxed $13,294. That means that your net pay will be $46,706 per year, or $3,892 per month. Your average tax rate is 22.2% and your marginal tax rate is 34.4%.

Is it cheaper to live in Texas or Maryland?

Go to any online cost-of-living calculator and you will find that the cost of living in Maryland is 4 percent to 4.5 percent less than living in Texas, even with the Maryland state income tax. If you earned $50,000 a year in Texas, you’d have an extra $20-$25 a week in your pocket simply by moving to Maryland.

Is Baltimore safe?

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.

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.

What salary is considered rich for a single person?

With a $500,000+ income, you are considered rich, wherever you live! According to the IRS, any household who makes over $500,000 a year in 2022 is considered a top 1% income earner. Of course, some parts of the country require a higher income level to be in the top 1% income, e.g. Connecticut at $580,000.

What salary is considered rich near Maryland?

To be considered rich in the Baltimore, Maryland, metro area you need to make over $154,788.

What is a good net worth by age?

The average net worth for U.S. families is $748,800. The median — a more representative measure — is $121,700.
Average net worth by age.