New York, NY vs Baltimore, MD: Cost of Living Comparison
Updated November 2026
Baltimore is the cheaper place to live: overall prices in New York are 13.3% higher, and housing prices differ the most (138.6 in New York vs 92.0 in Baltimore). A single adult's modelled budget is $3,490 a month in New York and $2,690 in Baltimore.
Side-by-side figures
| Measure | New York, NY | Baltimore, MD |
|---|---|---|
| Local cost index (CostLiving estimate) | 113.5 | 100.1 |
| BEA index for the area | 112.6 | 104.5 |
| Housing (rents) | 138.6 | 92.0 |
| Goods | 110.3 | 102.4 |
| Utilities | 127.0 | 110.2 |
| Other services | 105.8 | 101.5 |
| Monthly budget, single adult | $3,490 | $2,690 |
| Monthly budget, couple | $5,199 | $4,460 |
| Monthly budget, family of 4 | $6,335 | $5,404 |
| Median gross rent | $1,821 | $1,331 |
| 1-bedroom rent | $1,742 | $1,103 |
| 2-bedroom rent | $1,827 | $1,406 |
| 3-bedroom rent | $2,123 | $1,577 |
| Median home value | $777,600 | $229,600 |
| Median household income | $80,483 | $62,177 |
| Rent as % of renter income | 31.3% | 32.0% |
| Home value ÷ income | 9.7× | 3.7× |
| Electricity (state, ¢/kWh) | 28.65 | 21.40 |
| Regular gasoline ($/gal) | $4.22 | $4.23 † |
| Population | 8,483,844 | 573,243 |
* fallback value (see notes) · † regional gasoline figure. Local index: CostLiving estimate from BEA RPP 2024 and ACS rents; housing and income: Census ACS 2020-2024; electricity: EIA August 2026; gasoline: EIA week of 2026-11-02.
Prices by category
New York, NY
New York price index by category, US average = 100: All items 113.5, Housing (rents) 138.6, Goods 110.3, Utilities 127.0, Other services 105.8
Baltimore, MD
Baltimore price index by category, US average = 100: All items 100.1, Housing (rents) 92.0, Goods 102.4, Utilities 110.2, Other services 101.5
Monthly budget, family of 4
| Category | New York | Baltimore | Difference |
|---|---|---|---|
| Housing (rent) | $1,966 | $1,327 | −$639 |
| Utilities | $614 | $603 | −$11 |
| Food at home | $819 | $760 | −$59 |
| Transportation | $1,830 | $1,664 | −$166 |
| Health care | $642 | $616 | −$26 |
| Clothing, personal care & supplies | $464 | $434 | −$30 |
| Total | $6,335 | $5,404 | −$931 |
Modelled estimate, excluding taxes and child care. How it is calculated.
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Frequently asked questions
Is Baltimore more expensive than New York?
No. Overall prices in Baltimore, MD (index 100.1) are 11.8% lower than in New York, NY (index 113.5), based on our local cost index (BEA Regional Price Parities 2024 adjusted for local rents). The biggest gap is in housing (rents): 92.0 vs 138.6.
What salary do I need in Baltimore to match $60,000 in New York?
About $52,900. Going the other way, $60,000 in Baltimore buys about as much as $68,000 in New York. Taxes are not included.
Is rent cheaper in New York or Baltimore?
Median gross rent is $1,821 in New York and $1,331 in Baltimore (−26.9% in Baltimore; Census ACS 2020-2024). Median home values are $777,600 and $229,600.
Notes
- Baltimore: gasoline price - PADD region (EIA publishes weekly prices for only 9 states).
Not financial advice. Methodology · Sources