Living in Maryland: Income, Housing, Taxes & Cost of Living (2026)
By Wealthvieu
·
Updated
Table of Contents
Maryland at a Glance
| Metric |
Value |
National Rank |
| Population (2024) |
6.2 million |
19th |
| Median household income |
$98,461 |
1st (highest) |
| Median home price |
$400,000 |
Above average |
| Cost of living index |
118 |
Above average |
| State income tax |
2-5.75% (+ county tax up to 3.2%) |
High effective rate |
| Sales tax |
6% |
Average |
| Property tax (effective rate) |
1.05% |
Average |
Income and Housing
| City/Area |
Median Income |
Median Home Price |
Median Rent (2BR) |
| Howard County |
$124,000 |
$520,000 |
$2,000 |
| Montgomery County |
$118,000 |
$550,000 |
$2,100 |
| Anne Arundel County |
$105,000 |
$430,000 |
$1,800 |
| Baltimore County |
$78,400 |
$310,000 |
$1,500 |
| Baltimore City |
$54,200 |
$195,000 |
$1,300 |
| Frederick |
$98,200 |
$420,000 |
$1,700 |
| Prince George’s County |
$88,400 |
$380,000 |
$1,650 |
| Hagerstown |
$58,200 |
$260,000 |
$1,150 |
| Ocean City (Worcester Co.) |
$62,000 |
$350,000 |
$1,400 |
Taxes (Unique: State + County Income Tax)
Maryland’s effective income tax rate is state rate (2-5.75%) PLUS county surcharge (2.25-3.2%).
| Gross Income |
Federal |
MD State + County Tax |
FICA |
Total Rate |
| $100,000 |
$13,615 |
$7,500 |
$7,650 |
28.8% |
| $150,000 |
$25,915 |
$11,250 |
$10,878 |
32.0% |
Maryland Pros and Cons
| Financial Pros |
Financial Cons |
| Highest median household income in US |
High effective income tax (state + county) |
| Proximity to DC job market and federal jobs |
Above-average cost of living (118) |
| Strong biotech, cyber, and defense sectors |
Baltimore City has high crime and low income |
| Excellent public schools |
Traffic congestion (DC commuters) |
| No tax on Social Security (most filers) |
Housing prices above average |
Related: Cost of Living by State | State Income Tax Rates | Property Tax by State
