
Baltimore is a city that has a lot to offer, but like every city, it comes with a unique price tag. Perhaps you’ve heard about the city’s reasonable housing costs (even in the city’s most expensive neighborhoods), but it’s also important to consider other expenses, including transportation, healthcare, and the cost of a good meal. Let’s break down the specifics of Baltimore’s cost of living.
Noteworthy Numbers
- The median home price in Baltimore is typically in the low $200s, with a recommended annual income of around $85,000 to live comfortably.
- The average monthly rent for a two-bedroom unit in Baltimore is approximately $1,420.
- Dining in Baltimore costs around $15 for a basic lunchtime meal.
- Average healthcare costs include around $133 for a general physician visit and around $400 for prescription medications.
- Entertainment expenses in Baltimore include $24 for two movie tickets and around $75 for a monthly gym membership.
Housing Expenses in Baltimore
The cost of real estate in Baltimore, with typical home prices between the high $100s and low $200s, is significantly lower than both national and Maryland averages. This aspect of the city’s cost of living is a huge draw for many, offering the chance to own property without breaking the bank even with a higher property tax rate. If you’re considering renting instead, you’ll find that a two-bedroom unit typically costs around $1,420 per month. Again, this is cheaper than both the state and national averages, making it a financially sound choice for those looking to save on housing expenses.

Homes for sale in Baltimore offer a range of options to suit your lifestyle and budget, even offering plenty of affordable neighborhoods. From high-end luxury homes to Baltimore’s distinctive and colorful townhouses, you’ll find a variety of choices available in the city.
By understanding the housing expenses in Baltimore, especially in comparison to Boston and other large communities in the area, you’ll be better able to budget and plan for a comfortable life in the city.
Transportation Costs in Baltimore
While living in Baltimore, you’ll find that transportation costs, including gas and maintenance, are slightly higher than the national average, with the average cost of gasoline at $3.67 per gallon.

Researching average traffic patterns in Baltimore can help with planning your commuting expenses. You’ll find that heavy traffic times might lead to more gas usage, adding to your transportation costs. Understanding these patterns can assist you in making the most cost-effective decisions about when and how you travel.
Fortunately, Baltimore offers cost-effective alternatives to driving, thanks to several public transportation options. Whether it’s the Metro SubwayLink, Light RailLink, or the bus system, you can get around the city without breaking the bank. The cost of public transportation is usually more stable and can save you from the unexpected expenses that often come with owning a car.
Food and Dining Expenses
Navigating through Baltimore’s food and dining scene, it’s important to consider the typical costs you might encounter. Knowing what to expect can help you budget your household income efficiently, ensuring a better quality of life.

On average, a basic lunchtime meal and drink in the heart of the city will set you back around $15. The typical Baltimore household spends around $6,200 per year on groceries and $4,500 on eating out, figures that are slightly higher than the national average.
Considering food and dining expenses is essential for maintaining a balanced budget and a comfortable lifestyle. Remember, a good understanding of your living costs contributes significantly to your overall financial health and quality of life in Baltimore. So, as you explore this vibrant city’s food scene, keep your budget in mind.
Healthcare Costs Breakdown
Healthcare costs can significantly impact your budget. In Baltimore, healthcare costs can vary depending on the type of care you need. For example, a visit to a general physician will set you back about $133, on average. This price is fairly standard for the city, although it may vary slightly depending on the doctor’s specialty. If you need to see a dentist, you’re looking at an average cost of around $117.
Eye care is another consideration. An optometrist visit in Baltimore will cost you approximately $114. If you wear glasses or contact lenses, these costs can add up quickly, so be sure to budget accordingly.
Prescription drugs are an unavoidable aspect of healthcare for many people. In Baltimore, the average cost for prescription medications is around $401. However, this figure varies widely depending on the specific medication and dosage you need.
Lastly, the cost of common over-the-counter medications like Ibuprofen is about $11. These costs, while minor, can add up over time and should be factored into your budget.
Entertainment and Lifestyle Costs
Baltimore offers an array of entertainment options that cater to varying budgets. Living in Baltimore is never dull, with a variety of attractions, including theaters, clubs, restaurants, and gyms to keep you entertained. However, the cost of entertainment can fluctuate depending on your preferences.

On average, you’ll spend around $24 for two movie tickets, which is slightly above the state average. If you’re a fitness enthusiast, a monthly gym membership typically costs approximately $75.
If you enjoy dining out, a basic dinner for two at a mid-priced restaurant will cost about $75. Baltimore’s food scene has plenty to offer, from cheap eats to high-end dining, allowing you to adjust your spending accordingly. When it comes to nightlife, a night out in a downtown club can be an exciting experience. However, be prepared to pay for it, as a cocktail typically costs around $13.
Living in Baltimore, as you can see, can be as expensive or affordable as you want it to be. It all depends on your lifestyle choices and how you choose to spend your entertainment dollars. The city’s diverse range of entertainment options means there are opportunities for every budget.
Sticking to Your Budget in Baltimore
Living in Baltimore can be quite affordable. With a median home price lower than the national average and manageable costs for transportation, food, healthcare, and entertainment, your income can stretch further. So, start looking for a job, plan your finances, and get ready to experience Baltimore.