$140K Becomes New 'American Dream' Income For Baltimore Residents

BALTIMORE, MD — How much money does it take to live comfortably in Baltimore in 2025?

This is a question on the minds of many Baltimore residents amid skyrocketing home and grocery prices and as their salaries fail to meet past standards of living in the United States.

Whereas a six-figure income was often categorized as the benchmark household income to allow the average person to achieve that elusive "American Dream," this amount of money is quickly becoming a non-negotiable factor for enjoying a good life, according to a new study by finance website GOBankingRates.com — especially for families living in the most populous U.S. cities.

To determine the household income necessary for achieving the American dream, GOBankingRates analyzed the 50 largest U.S. cities based on population and other factors, such as annual grocery and child care costs and monthly mortgage expenses.

The annual cost of living was calculated using average mortgage and expenditure costs and the total cost of living was then doubled to find the amount of household income necessary for a comfortable lifestyle.

In Baltimore, residents must earn $139,882 annually to live comfortably, according to the analysis.

Here's a look at other costs associated with living in Baltimore, according to GOBankingRates:

• Household income for the American dream: $139,882
• Total annual cost of living: $69,941
• Grocery costs per year: $8,880
• Average monthly mortgage cost: $1,059
• Child care cost per year: $32,301

And while a $140,000 household income may feel out of reach for many in the Baltimore area, it is still far below many cities in the United States. Baltimore ranked 18th out of the 50 most populated cities.

Coming in at No. 1 was Washington, D.C., where a household income of $189,306 is needed to achieve the American Dream, according to the GOBankingRates.com survey.

In addition to Washington, D.C., Boston ($175,628), New York ($173,006), San Francisco ($172,340) and San Jose ($167,958) each ranked in the top five. A salary of at least $167,000 is needed for a comfortable lifestyle in these five high cost-of-living metros.

Nine California cities ranked in the top 50, the most from any state. To achieve the American dream in San Francisco (No. 4), San Jose (No. 5), Oakland (No. 6), Los Angeles (No. 7), Long Beach (No. 8), San Diego (No. 10), Sacramento (No. 13), Fresno (No. 15) and Bakersfield (No. 7), residents must earn a minimum of $143,000 annually.

See the full analysis at GOBankingRates.com.