What are the costs of living in Baltimore

Are you planning to move to Baltimore? Then, if this is the case, you should get to know Baltimore a little bit better. Since you will be living and working in this city, you need to come prepared. As finances are one of the more important things to consider when relocation, you should know more about the costs of living in Baltimore. Once you have everything written, you can organize your budget accordingly. In addition to this, you need to include costs for moving and storage Baltimore since this is something you cannot skip if you want to live in this city. Without further ado, here are the costs of living in Baltimore. 

Baltimore 

Before you find out how high the costs of living in Baltimore are, you should learn more about the city itself. Baltimore is the most populous city in the state of Maryland with a population of 602,495. Apart from this, Baltimore has the major historical relevance as it was the second leading port of entry of immigrants. Today, the two largest employers in the city are Johns Hopkins Hospital and Johns Hopkins University. You have a good chance of finding your job position in one of these two centers. In addition to this, Baltimore was a residence to many famous writes including the following ones:

Lastly, Francis Scott Key wrote “The Star-Spangled Banner” in Baltimore. This happened during the War of 1812 after Fort McHenry was bombed. As you probably know, later this would become the American national anthem. 

a picture of a city's buildings
Baltimore, Maryland

Overall Costs of Living in Baltimore 

Now that you know some interesting facts about the city, you should read about the overall costs of living in Baltimore. Unfortunately, the costs of living in Baltimore are higher than the national average. They are six percent higher than the rest of the country. In addition to this, residents of Baltimore make less money on the whole. The average income is around $55 000 while the income in Baltimore just a little bit less than $45 000. That is a huge gap in incomes. However, there are plenty of ways to overcome this. You use your savings while looking for a high-paying job. Maybe you want to move your own business to this city. If that is the case, then find good office movers Baltimore and save money on the relocation. 

Housing costs 

The bad news does not end with the overall costs of living in Baltimore. The median price for a house in the city is also a little bit higher than the national average, coming at $117,100. Only last year, the house value has skyrocketed by 33.2 percent. This year, many experts predict a further rise of 10.5 percent. This means it is going to be very expensive to purchase a house in Baltimore. In addition to this, you can rent a place for you and your family. For the one-bedroom apartment, you will have to pay around $1,455. A two-bedroom apartment is a little bit more expensive, coming at $1,718. However, keep in mind that these are just estimates. The price depends on location, Baltimore neighborhood, and many other factors. You can find a pretty good apartment for less money if you are lucky. 

Costs of living in Baltimore – utilities 

Finally, good news after the series of bad ones, utility prices have remained the same and stable for some time. For energy bills, you will pay less than the other people in the state. However, for natural gas, residents pay 11.8 percent more than the national average. Do not get discouraged just yet since your house might not need natural gas. If that is the case, you can skip this piece of information. In addition to this, water and sewage bills increased by 13.9 percent due to the aging infrastructure. However, if you own a property, the city is going to provide credits but only if your home is assessed. For this reason, make sure to assess your home since you can get a good 80 percent decrease in rates. 

a brown power pole
The utilities are higher than the average

Transportation 

Transportation costs are lower than the national average. If you move to Baltimore, you will pay around $2.888 per gallon. This is actually higher than the last year price. However, the increase happened in the whole country, not just in Maryland. It is still cheaper when compared to the national average, which is around $2.970 per gallon. In addition to this, you can opt for public transport. A monthly bus pass is $72 – $9o. The price varies whether you will get an “express” pass or not. If you are a senior in one of the MD cities such as Baltimore, then you can get a senior pass for $21.20. Lastly, you can choose taxi as well. A five-mile ride is going to be around $15 on a regular business day. 

Daily Living in Baltimore 

Usually, the prices for food, clothes, toiletries, and so on are the same as in the rest of the country. You can notice this if you shop in large shopping centers. However, there are some exceptions to the rule. A movie ticket is around $13, which is more than the national average of $9.38. In addition to this, a carton of eggs is around $2.61 which is again more than the national average of $1.80. It is a little bit more expensive to live in Baltimore when compared to the national average. However, this streak of higher prices does not end here. Insurance is also more expensive. Car and health insurance are the ones that are higher than the national average. The only one that is lower is homeowner’s insurance. It is 13 percent less. 

the courthouse in Baltimore
It is expensive to live in Baltimore

The costs of living in Baltimore – a conclusion

As you can see, the costs of living in Baltimore are higher than the national average. However, if you have a good job, this should not be a problem for you.