Quality of Life Assessment: Baltimore, MD vs. United States

Income and Cost of Living

• Annual Income: $117,215
• Comparison to National Average:
  • The median household income in the U.S. is approximately $71,000.
  • An income of $117,215 is significantly above the national median, placing individuals in a strong financial position relative to the average American.

Cost of Living

• General Cost:
  • The cost of living in Baltimore is slightly above the national average but more affordable than other East Coast cities such as New York and Washington, D.C.
• Expenditure Breakdown:
  • Housing: Generally the largest expense.
  • Utilities, Groceries, and Transportation: Comparable to national averages but can vary depending on the neighborhood.

Housing Market

• Average Home Prices:
  • As of the most recent data, the median home price in Baltimore is around $325,000.
  • This is below the national average home price, which provides a relatively favorable market for home purchasing versus renting.
• Renter's Market:
  • The rental market remains competitive, offering a range of housing options at various price points.

Quality of Life

• Lifestyle:
  • Baltimore offers a rich cultural scene, diverse dining options, and numerous outdoor activities.
  • Proximity to major cities offers additional amenities without higher living costs.
• Crime Rates:
  • Some areas experience higher crime rates, which can impact perceived quality of life. Choosing the right neighborhood is crucial.

Access to Healthcare

• Healthcare Facilities:
  • Baltimore houses several renowned healthcare institutions, including Johns Hopkins Hospital.
• Healthcare Costs:
  • Generally aligned with national costs but can fluctuate based on insurance plans and providers.

Quality of K-12 Schools

• Education Options:
  • A mix of public, private, and charter schools are available.
• Performance:
  • Varied school performance; some schools rank highly while others may meet only basic state standards.

Summary

Overall, with an income of $117,215 per year, a resident of Baltimore, MD, can enjoy a quality of life that includes affordable homeownership options relative to other major metropolitan areas, access to excellent healthcare, and a diverse cultural scene. While the cost of living is slightly higher than the national average, the higher income helps