If you want to retire, one state you can try is The Old Line State, Maryland. Maryland is also known as the Free State, and you can feel that freedom when you visit. This state is for you if you like bays with delicious blue crabs and some gorgeous attractions. Depending on where you live in Maryland, the summers and winters can either be cooler or hotter, so keep that in mind when you visit. Maryland is a state that can be a great place to retire, but it can cost you. See the next section, where we will break down the costs.
Maryland is, unfortunately, more expensive than the national average on all fronts. Overall, it ranks nearly 30 points above the national average. Your paycheck will take less of a hit from utilities and groceries, but you will be paying a lot for housing, over 70 points above the national average! The median home cost and rent are more expensive as well. So if you want to retire here, you either need to have some money or be strategic about what area of Maryland you choose. While there are more affordable areas, you might want to look elsewhere if you have a low budget.
| COST OF LIVING | Maryland | United States |
|---|---|---|
| Overall | 129.7 | 100 |
| Grocery | 108.7 | 100 |
| Housing | 171.3 | 100 |
| Median Home Cost | $314,800 | $291,700 |
| Utilities | 104 | 100 |
| Transportation | 110.5 | 100 |
| Miscellaneous | 108 | 100 |
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