Towson, MD

Very High · 131

Maryland · Population 57,683 · Updated March 2026

$1,784
Median Rent / Month
$100,481
Median Income
$445,100
Median Home Value
$1,793
Owner Costs / Month

Affordability

How far your income goes in Towson

21.3%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Maryland

State-level tax rates that affect your costs

5.75%
Income Tax (Top Rate)
6.0%
Sales Tax
1.07%
Property Tax Rate

Estimated Annual Costs

$21,408
Annual Rent
$5,778
State Income Tax
$4,763
Property Tax (est.)

Cost of Living Overview

Towson has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 131 (where 100 equals the national median), Towson residents can expect to pay median rent of $1,784/month while earning a median household income of $100,481/year.

The median home value in Towson, MD is $445,100, with typical monthly owner costs around $1,793 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Maryland has a moderate income tax rate of 5.75%. Combined with a 6.0% sales tax rate and 1.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in Towson.

Frequently Asked Questions

Common questions about living costs in Towson

What is the cost of living in Towson, MD?
The cost of living index in Towson, MD is 131 (US average = 100). Median monthly rent is $1,784, median household income is $100,481/year, and the median home value is $445,100.
Is Towson, MD affordable?
No, Towson is more expensive than the national average with a cost index of 131. The rent-to-income ratio is 21.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Towson, MD?
The median gross rent in Towson, MD is $1,784 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,408.
What is the median household income in Towson?
The median household income in Towson, MD is $100,481 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Maryland?
Maryland has a top income tax rate of 5.75%, a sales tax of 6.0%, and an effective property tax rate of 1.07%.