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These days, finding an affordable place to live in the Maryland area can be challenging. Home prices in Maryland are now at a median cost of $357,815, higher than the the United States average of $313,691.
The average cost of rent is $1,646/mo in Maryland, primarily driven by the current value of real estate in the Maryland area. While nearly 27.97% of residents own their homes outright in Maryland, 29.07% rent.
Housing affordability isn’t just about home prices, though. The average household income in Maryland is $8,707 per month. Households that rent pay about 18.91% of their income on rent here. Maryland's most expensive areas are in the western regions, while the cheapest areas are in the eastern parts of the state.
Nearby States
- District of Columbia: higher priced homes
- Delaware: less expensive homes
- Pennsylvania: less expensive homes
- Virginia: less expensive homes
- New Jersey: equally priced homes
- West Virginia: less expensive homes
- New York: higher priced homes
- Connecticut: equally priced homes
- North Carolina: less expensive homes
- Rhode Island: less expensive homes
States with Similar Populations
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