How Much Does It Cost to Live in Baltimore, Maryland?

Baltimore is a medium city located in Maryland with a metropolitan area population of 621,342. A couple could live a moderate lifestyle in Baltimore on a budget of $3,613 per month, or $43,353 per year.

Cost of Living in Baltimore, Maryland

As noted above, the cost of living in Baltimore, Maryland is $3,613 per month for a couple living a moderate lifestyle. This budget consists of $2,048 for housing related costs, $719 for food, and $845 for other costs, all of which will be broken down below.


  • A one-bedroom apartment in the city center of Baltimore is estimated to cost $1,792
  • Basic utilities including electricity, water, and gas will run about $169
  • High-speed internet averages $87


  • Typical grocery costs of $507 per month include things like bread, eggs, milk, cheese, rice, chicken breast, bottled water, fruits, and vegetables
  • Alcohol including beer and wine for moderate home consumption costs about $109
  • Frequent coffees in a neighborhood café are estimated to be about $103


  • Meals out are estimated to be $475 per month, including 4 meals in mid-range restaurants and 8 in inexpensive restaurants
  • Transportation costs of $185 for public transport passes and occasional taxis
  • Fitness center memberships of $125
  • Cinema tickets of $60 include several outings for international releases

Note that Baltimore, Maryland is a very walkable city with a Walk Score of 97/100, which means you won’t need a car if you are living in the city center and you may even save some money by not using public transportation and taxis very often.


Amount of Money Needed to Retire in Baltimore, Maryland

Many people searching the internet for the cost of living in Baltimore, Maryland are doing so to see if and when they can quit their jobs and retire. A popular and easy way to calculate your retirement number is using the 4% Rule.

The 4% Rule estimates that a person(s) could withdraw 4% of their retirement nest egg and never run out of money. Using this calculation, a couple would need an investment portfolio of $1,083,837 to live a moderate lifestyle in Baltimore, Maryland.

Annual expenses of $43,353 ÷ 4% = $1,083,837 portfolio needed.

Of course, everyone’s financial situation is different, and the above calculation could change based on any other sources of passive income and social security income.


Overall, the cost of living in Baltimore, Maryland is affordable coming in at $3,613 for a couple living a moderate lifestyle. Those seeking to retire could do so comfortably with a retirement portfolio of $1,083,837.