Baltimore Highlands cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBaltimore HighlandsMarylandNational
Cost of living index100115100
IndexBaltimore HighlandsMarylandNational
Goods & Services index9191100
Groceries index111112100
Health care index9088100
Housing index106154100
Transportation index109108100
Utilities index9799100
An overview of the general cost of living index for Baltimore Highlands, MD is displayed above for your reference. Residents in Baltimore Highlands, MD enjoy a cost of living index of 100. This index is 13% lower than the Maryland average, and equal to the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Baltimore Highlands, MD, the average cost of goods and services is 1% lower than it is in Maryland, and it is 9% lower than the national average.

Did you know?

  • The cost of living in Baltimore Highlands is 13% lower than the Maryland average.
  • The cost of living in Baltimore Highlands is equal to the national average.
  • The cost of housing in Baltimore Highlands is 6% higher than the national average.
  • Maryland general sales tax is 18% higher than the national average.
  • Maryland state income tax is 10% lower than the national average.

Find Real Estate Listings In Baltimore Highlands

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Baltimore Highlands

Compare Baltimore Highlands, MD Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Use the salary calculator to compare your current salary in Baltimore Highlands, MD to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Baltimore Highlands, MD, then you would need to earn more income in order to maintain the same standard of living. To use the Baltimore Highlands, MD salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$59,567$4,964$1,390$1,787
Renters$40,946$3,412$955$1,229
The affordability of the housing market in Baltimore Highlands, MD as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Baltimore Highlands, MD homeowners, the median income is $59,567. This indicates that a monthly maximum of $1,390 should be spent by homeowners on all housing related costs. Renters have a median income of $40,946. This indicates that renters should have a maximum of $955 used for their rent related monthly costs.

Maryland Sales Tax

StateGeneral Sales TaxWith Max Surtax
Maryland6%6%

Maryland Income Tax

StateIncome Tax (Low)Income Tax (High)
Maryland2%5.75%
When assessing the complete cost of living in Baltimore Highlands, MD, the Maryland income tax and the Maryland sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Maryland maximum surtax is 6%, and the Maryland sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 2% to 5.75% in Maryland.

Goods & Services

ItemBaltimore HighlandsNational avg.Difference
Haircut $15.75$14.597.9%
Beauty Salon $43.00$34.6824.0%
Toothpaste $2.13$2.4713.9%
Shampoo $0.99$1.023.1%
Movie $10.81$9.879.5%
Bowling $5.30$4.3920.7%

Groceries

ItemBaltimore HighlandsNational avg.Difference
Ground Beef $3.49$4.4822.0%
Fried Chicken $1.57$1.467.2%
Milk $2.59$2.369.9%
Potatoes $3.89$3.0627.1%
Pizza $8.00$9.2413.4%
Beer $8.49$8.631.7%

Health Care

ItemBaltimore HighlandsNational avg.Difference
Optometrist $67.49$99.7832.4%
Doctor $80.00$105.0323.8%
Dentist $81.75$88.707.8%
Ibuprofen $10.58$9.4112.4%
Lipitor $293.64$298.501.6%

Housing

ItemBaltimore HighlandsNational avg.Difference
Home Price $183,500.00$175,700.004.4%
Avg. Mortgage Payment $1,575.45$1,081.0345.7%
Apartment Rent $996.00$920.008.3%

Transportation

ItemBaltimore HighlandsNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $48.80$45.297.8%

Utilities

ItemBaltimore HighlandsNational avg.Difference
All Electricity$159.30$170.806.7%
Phone $28.67$28.261.5%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Dundalk, MD62,18696-4%
Baltimore, MD622,27196-4%
Middle River, MD26,65298-2%
Lansdowne, MD8,71498-2%
Essex, MD37,38099-1%
Baltimore Highlands, MD7,0781000%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Norwich, NY7,08088-12%
San Martin, CA7,08117373%
Quincy, WA7,07590-10%
West Concord, MA7,08517171%
Tappan, NY7,07116262%
Baltimore Highlands, MD7,0781000%
Source: The Baltimore Highlands, MD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.