Salary Needed to Live in Baltimore as a Retiree
A retired individual (65+) needs approximately $22,943/year to live comfortably in Baltimore, MD — including 5% savings.
Comfortable Salary
$22,943
with 5% savings
Bare Minimum
$21,350
no savings buffer
Monthly Expenses
$1,281
4% above national avg
Detailed Monthly Budget for a Retiree in Baltimore
| Expense | Baltimore | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $158 | $121 | +31% |
| 🛒 Groceries | $18 | $16 | +13% |
| ⚡ Utilities | $17 | $15 | +13% |
| 🚗 Transportation | $17 | $18 | -6% |
| 🛡️ Car Insurance | $192 | $229 | -16% |
| 🏥 Health Insurance | $47 | $58 | -19% |
| Medicare Supplement | $216 | $200 | +8% |
| Prescription Drugs | $162 | $150 | +8% |
| Internet + Phone | $130 | $120 | +8% |
| Recreation & Social | $216 | $200 | +8% |
| Home Maintenance | $108 | $100 | +8% |
| Total Monthly | $1,281 | $1,227 | +4% |
How We Calculated the Salary
Monthly expenses:$1,281
Target savings (5%):$72/mo
Monthly after-tax needed:$1,353
Effective tax rate:28%
Gross annual salary needed:$22,943
Other Household Types in Baltimore
Related Pages
FAQ
What salary does a retiree need in Baltimore?
A retiree needs approximately $22,943/year ($1,912/month gross) to live comfortably in Baltimore with a 5% savings rate.
How much is rent for a retiree in Baltimore?
A 1-2br senior-friendly in Baltimore costs approximately $158/month, which is the largest single expense at 12% of the total budget.
Is Baltimore affordable for a retiree?
Baltimore is roughly average for retiree costs, requiring a salary close to the national median.