If you’re considering moving to Maryland, understanding the cost of living in the Old Line State can help you make plans more confidently. In this guide, we break down the cost of living in Maryland, from housing expenses to food and healthcare costs. We’ll provide data from state cost of living index tools and how Maryland ranks in the nation for livability. We’ll also share a handy set of additional online resources to measure and compare the cost of living expenses in different Maryland communities. When you’re planning to live in a new state, the cost of living there will be a combination of expenses required to maintain your desired lifestyle. Statista, a leading market data platform, defines “cost of living” as “the monetary cost of goods and services necessary to maintaining a certain standard of living.” This overall cost will vary significantly based on location, even within the state. But the core living expenses you’ll pay for typically include the following categories: However, the costs often extend beyond these basics to cover other expenses, such as: These elements, when combined, establish the core costs associated with a particular way of living. However, your income and debts largely influence your living standard and how the dollar amounts compare to the costs of basic needs in the Maryland city where you live — or want to live. Let’s take a quick look at some ways you can compare your current living cost with what you might experience if you move to Maryland. A cost of living index (CLI) monitors how much these basic expenses increase over time in different cities or regions. They provide a way to compare the price of maintaining a certain standard of living. The CLI is calculated by assessing the price of essential goods and services such as housing, food, healthcare, and transportation in different areas. An index is typically standardized, with a base city or region assigned a baseline index value (often set at 100). Other cities or regions are then compared against this benchmark. For example, a Maryland or city with a CLI of 120 would signify that living there is 20% more expensive than the base location, while an index of 80 indicates it’s 20% less expensive. A cost of living index will typically break down and score each basic expense by category. Here are separate scores for Maryland from the worldpopulationreview.com Cost of Living Index: Using additional data collected by Forbes, let’s take a closer look at actual dollar amounts and how Maryland ranks when compared to the other 50 states in the U.S. (Average yearly expenses for housing, food, healthcare, transportation, and taxes) (Total cost of living subtracted from average salary shown in table below.) If you’re planning a move to the Centennial State, you may be interested in more than just the cost of living data. Here’s a summary of livability insights for Maryland: »See more details about these categories on this U.S. News Maryland rankings page. Here are some cost of living index links to research additional Maryland living expenses: According to the United Van Lines 47th Annual Movers Study that tracks migrations within the United States, here are why people are moving into Maryland or away to other states. Total inbound: 48.0% Total outbound: 52.0% Below is a collection of handy online tools to help estimate your moving costs and living expenses in Maryland — from how much you’ll need to pay a mover to how much your current home might sell for and the proceeds you can expect. With today’s smart technology, you can find a wide variety of tools to help you estimate the cost of paying for a mover or how to find a trusted mover for your relocation to Maryland. Some examples include: Cost of living calculators are different from cost of living indexes. These tools, typically free, provide a comparison based on income and regional costs for housing, transportation, food, healthcare, and other necessities in the two locations you select. For example, if you live in Richmond and want to move to Baltimore, these calculators can give you a brief idea of what your expenses might look like. Some popular cost-of-living calculators include:What makes up the ‘cost of living’ in Maryland?
What’s a Maryland cost of living index (CLI)?
Maryland overall annual cost of living data
Maryland cost of living data at a glance
Cost of living factor
Dollar amount
State ranking
Annual salary (average)
$69,750
#6
Transportation costs (annual)
$5,488
#11
Home price (median)
$405,562
#16
Mortgage payments (median monthly)
$2,423
#16
Rental costs (average monthly)
$1,732
#6
Housing costs (renters and homeowners)
$1,818
#5
Food costs (annual average)
$4,260
#23
Healthcare costs (annual average)
$10,340.33
#16
Income taxes (average annual)
$6,326
#5
Maryland tax rates
Of 50 states, how does Maryland rank for livability?
Maryland livability rankings
Additional cost of living indexes
Why are people moving to (or away from) Maryland?
Primary reasons people are moving
Inbound
Reason for the move
Outbound
3.80%
Retirement
22.20%
6.10%
Health
4.30%
32.10%
Family
19.80%
9.90%
Lifestyle
11.10%
32.10%
Job
27.50%
1.50%
Cost
3.40%
Budgeting for your move to Maryland
1. Online move cost estimators
2. Cost of living calculators
3. Living wage and budget calculators
4. Homebuyer calculators
5. Home seller calculators
