Study: Living comfortably in Baltimore is going to cost you

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Photo by: Baltimore City Skyline
By: WMAR STAFF
Posted at 6:14 AM, Oct 26, 2022

BALTIMORE — There’s a new study showing how much money you need to earn to live comfortably in Baltimore.

Gobankingrates.com put out this study. It defines “living comfortably” by a person following the 50/30/20 rule.

That means half of your income to go to necessities, 20% to savings and investments and 30% for splurges and fun.

The study found the average income is Baltimore is $52,164

If you’re a homeowner, you’ll need to make $67,888.98 to live comfortably.

And if you’re renting, the income level is $81,592.98.

Click here to see the full study.

Learn more.