Baltimore County incomes fall for 5th year as Maryland sees gains
Baltimore County Incomes Keep Falling And Housing Costs Keep Rising
Household incomes in Baltimore County fell again in 2024, the fifth straight year of decline, even as Maryland overall experienced a modest rebound, according to new U.S. Census Bureau estimates analyzed by The Baltimore Banner.
The county’s median household income dropped to just under $88,000 last year, a nearly 2% dip from 2023 when adjusted for inflation. Since 2018, incomes have fallen by nearly 8%, making Baltimore County the lowest-ranked among suburban Baltimore counties and 12th out of 16 Maryland counties with available 2024 data.
Howard County remained Maryland’s wealthiest, with a median income of nearly $152,000. Anne Arundel, Carroll, and Harford counties all placed in the state’s top 10, with incomes topping $111,000. Maryland as a whole continues to be one of the nation’s richest states, with a median household income of almost $103,000, up about 1% from the previous year, marking the first statewide increase after three consecutive years of decline.
Job losses and shifting demographics
Experts say Baltimore County’s struggles are tied to long-term economic changes.
Bill Barry, a former union organizer and retired labor studies director at the Community College of Baltimore County, pointed to the lasting impact of lost unionized steel and manufacturing jobs, particularly in eastern parts of the county.
“What we’ve seen is the shift in 12 years from a highly unionized economy to nonunion,” Barry said. “It’s a big shift from economies where people had a union and they could keep up with the cost of living.”
Community activist Scott Holupka noted that an aging population is also a factor. Adults 55 and older now make up 32% of the county’s residents, compared with 31% statewide.
“It wouldn’t surprise me if what we are particularly losing are working-age families who are moving to places with better opportunities,” Holupka said. “I think people are moving to greener pastures.”
Rising housing pressures
Falling incomes are straining households especially renters.
The median Baltimore County renter spent 33% of their income on housing and utilities in 2024, second only to Prince George’s County. Roughly one in four renters spent more than half of their income on housing, a level the U.S. Department of Housing and Urban Development considers “severely cost-burdened.”
“If you’re spending more than 30% of your income on housing, then you’re in a situation where you’re probably making choices between housing and other needs — energy costs, food costs, transportation costs,” said Michael Bader, a Johns Hopkins sociologist and demographer.
Median rent and utilities in Baltimore County rose to nearly $1,700 last year, up 1.5% from 2023 after inflation and nearly 8% higher than a decade ago. Holupka, who serves on the county’s Planning Board, said demand continues to outpace supply.
“We’re not building enough,” he said. “If you’re not building enough, one of the things that will happen is the cost of housing will increase.”
Baltimore County’s rents ranked ninth among Maryland counties with available census data. The county remains more affordable than neighboring Anne Arundel and Howard counties, where typical housing costs exceed $2,100, but more expensive than Carroll and Harford counties.
Baltimore County Incomes Keep Falling And Housing Costs Keep Rising was originally published on wolbbaltimore.com
