This Is What The Average Maryland Household Pays In Bills Every Month

By Samuel Stebbins, 24/7 Wall St. - Baltimore

2022-06-24

The cost of living in the United States is well below the cost of living in several other developed countries, including the Nordic nations as well as New Zealand and Australia. Still, living expenses in the U.S. are higher than in much of the world.

According to a recent study from Doxo, a bill paying platform, American households spend an average of $2,003 a month on the most common bills – or about 37% of what the typical household earns in a month.

The average monthly cost of these bills – which include rent, auto loans, utilities, car insurance, cable, internet, mobile phone, and health insurance – are considerably higher than average in Maryland. The typical Maryland household spends an average of $2,456 per month on bills, the fifth highest among the 50 states.

States with higher than average monthly bills also tend to have higher than average incomes, while less expensive states tend to be lower income – and Maryland is no exception. The typical household in the state earns $87,063 a year, compared to the national median household income of $64,994, according to five-year estimates from the U.S. Census Bureau’s American Community Survey.

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This story was originally published by 24/7 Wall St., a news organization that produces real-time business commentary and data-driven reporting for state and local markets across the country.