Average Cost of Living in Maryland
The overall cost of living in Maryland is 13% higher than the rest of the country, but this varies widely by city. In Silver Spring, the cost of living is 32% higher than the national average due to high housing and transportation costs, which are 76% and 41% above the U.S. average, respectively. In Aberdeen, the cost of living is 1.6% lower than the national average and nearly 15% lower than the state average, thanks to low housing and health costs, which are approximately 10% less than the rest of the country.
Average Home Prices in Maryland
There's a wide range of housing prices in Maryland, depending on where you're looking to live. The median cost for a home in the state is $294,100, which is 27% more than the national average, making rent-to-own homes an attractive option. In Rockville, the average cost is $502,000, which is 2.17 times the national average of $231,200, and 1.7 times the state average. Bethesda, where the average price is $846,000, is much more expensive, but in Baltimore, the median cost is a much more affordable $114,300, which is 49% lower than the state average and 38% lower than the national average.
If you're interested in Maryland rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Maryland statistics compared to the U.S. national average.
| ||Maryland Averages ||National Averages |
|One-Way Commute ||32.7 minutes ||26.4 minutes |
|Violent Crime ||27.5 ||22.7 |
|Property Crime ||33.6 ||35.4 |
|Unemployment Rate ||4.1% ||3.9% |
|Income Tax Rate ||4.8% ||4.6% |
|Air Quality ||52 ||58 |
|Water Quality ||54 ||55 |
|Median Household Income ||$74,149 ||$53,482 |
|Median Property Taxes ||$2,774 ||$2,200 |
|Utilities ||$131/month ||$112/month |
|Monthly Rent ||$1,700 ||$1,470 |
|Median Home Cost ||$294,100 ||$231,200 |
|Median Home Age ||37 years ||40 years |
Popular Cities in Maryland
There are 157 municipalities in Maryland. Here are some of the popular or well-known cities in the state:
Baltimore is a short train ride away from Washington, D.C. With over 600,000 residents across 81 square miles, the city built its shipbuilding, steel, and other industries for hundreds of years around Inner Harbor, where you'll currently find cruises, an aquarium, and several other tourist attractions. More than 26 million people visit Baltimore every year.
Annapolis was the capital of the United States from Nov. 26, 1783, until June 3, 1784, and is currently the capital of Maryland. This 7-square-mile city with 39,000 residents is famously known for being the home of the United States Naval Academy. St. John's College, also located in Annapolis, was founded in 1784 and merged with King William's School, which was founded in 1696. It is one of the oldest colleges in the country. The city is part of the Washington Metro area, with plenty of available jobs and housing opportunities.
Silver Spring, the home of the Food and Drug Administration's headquarters and the American Film Institute, has a vibrant downtown and is less than 6 miles from Washington, D.C., and all of its attractions. It has urban and rural areas, as well as several swaths of open space, including Brookside Gardens, where you'll find 50 acres of tranquil walking trails and over 20,000 plants.
Popular Attractions in Maryland
There is plenty to do in Maryland. Nature lovers would enjoy Rock State Park, an 855-acre forested area with hiking trails, a creek for swimming and fishing, and picnic areas.
National Colonial Farm is another great outdoor option. Visitors can enjoy more than 200 acres of open and wooded areas, hiking trails, a museum, and stunning views. Extreme hikers can get lost for days in the 40 miles of hiking paths of the Appalachian Trail that run through Maryland. In its entirety, the trail is more than 2,000 miles in length and runs through several states, making it the longest walking trail in the world.
During the summer, you can stop by the 10 miles of beach at Ocean City and choose from hundreds of restaurants, attractions, and rides, including a carousel that was built in 1902. Wisp Resort, with more than 170 acres of skiing area, is an excellent winter destination. And throughout the year, you can visit Antietam National Battlefield, where 23,000 soldiers were killed during the Civil War, the Baltimore and Ohio Railroad Museum, where you can learn about transportation during the 1800s, or any of the many other attractions that Maryland has to offer. No matter what piques your interest, there's something for everyone.