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Cost of Living in Annapolis

Is it better to rent or buy in Annapolis? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$80,917
$785/mo

Median in area: $785

$117,200

Median in area: $117,200

$23,440

If you Rent

🔑
$1,068 /mo
Base Rent$785
Est. Utilities$283
% of Income15.8%
Pre-tax Residual$5,675

If you Buy

🏠
$1,129 /mo
P&I (6.994%)$623
Taxes & Ins$223
Est. Utilities$283
% of Income16.7%
Pre-tax Residual$5,614

Cost of Living FAQs

Is it cheaper to rent or buy in Annapolis?›

Based on median housing data, renting is currently more affordable on a monthly basis in Annapolis. The estimated all-in monthly cost for renting is $1,068, while owning a median-priced home with a 20% down payment is roughly $1,129 per month (a difference of $61).

How much do utilities cost in Annapolis?›

The average monthly utility cost (electricity and natural gas) for a typical home in Annapolis is approximately $283. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Annapolis?›

To comfortably afford the median rent and utilities in Annapolis without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $42,720 per year.