Maryland Income Statistics for 2024

The average income for households in Maryland is $129,642,
which is 22% higher than the US average.

US $105,833 Poverty $27,750 MD

The median income for households in Maryland is $98,461,
which is 31% higher than the US median.

US $75,149 Poverty $27,750 MD

More Texas income data: Richest Zips | Salaries | Individuals | Families | Retirement | Levels | By Age

Citations

Richest Maryland Zip Codes (2024)

by Kristen Carney Kristen Carney

Updated: July 18, 2024

The richest zip code in Maryland is 21737 with an average household income of $341,828 and 2,406 people according to the most current Census data available (citation).

10 Richest Maryland Zip Codes

per the most current (2022) Census data with at least 500 people and a reasonable margin of error

Rank Zip Code Population Mean Income Median Household Income
1 21737 2,406 $341,828 $250,001
2 20818 1,787 $329,902 $211,196
3 20817 37,795 $325,502 $231,292
4 20816 17,390 $321,268 $228,311
5 20854 49,320 $309,519 $241,697
6 20759 6,125 $308,962 $246,618
7 21153 676 $300,543 $-1
8 20815 31,080 $297,181 $185,873
9 20896 840 $275,936 $250,001
10 21794 2,309 $274,660 $191,458

To identify the richest zip codes in Maryland, we downloaded the most current income data from the US Census Bureau, excluded zips with fewer than 500 people, excluded the zips with margins of error greater than 50% of the income estimate and sorted by mean income. Click on the links above in the chart to see more income statistics for these wealthy Maryland zips codes or learn more about the highest income zip codes in the US.

Maryland Salary Data

  • The average salary for full-time workers in Maryland is $91,732.
  • The median salary for full-time workers in Maryland is $70,700.

The salary data above comes from the most current (2022) US Census’ American Community Survey (ACS) 5-year dataset and is based on earnings data for full-time workers. Note that earnings data includes both wage and salary data. The Bureau of Labor Statistics also publishes wage and salary data, but their dataset doesn’t include self-employed workers whereas the ACS dataset does include self-employed workers. Get help in the Median versus Average section to decide which statistic is best for your purposes.

Maryland Individual Incomes

  • The median income for single person households in Maryland is $52,357. A single-person household is when one person lives alone in a home or apartment without any other people. They could be single, divorced, widowed, or just prefer living alone.
  • The average income per person in Maryland is $49,865, which is also known as the Maryland per capita income. This figure tends to be lower than other income statistics, such as median household income, because it divides the total income by all people, including children and individuals who may not be working, rather than just by those earning an income.

Maryland Family Income Data

  • The average family income for Maryland is $152,797.
  • The median family income for Maryland is $120,081.

Family income reflects the combined income of all earners in a family unit. Single-person households are not included in this calculation, as family income specifically refers to households with more than one person. Get help in the Median versus Average section to decide which statistic is best for your purposes.

Maryland Retirement Income

  • The total average retirement income in Maryland is $63,418, which consists of $40,129 from retirement income and $23,289 from Social Security income.

Retirement income includes not only regular payments from pensions and retirement accounts like 401(k)s or IRAs but also survivor benefits for spouses or children of deceased individuals and disability pensions for those unable to work due to a disability. Social Security income includes payments from Social Security and U.S. railroad retirement pensions, survivor benefits, and disability insurance from the Social Security Administration, but excludes Medicare reimbursements.

Maryland Income Levels or Income Distribution

Households 2,318,124 100%
Less than $10,000 96,596 4%
$10,000 to $14,999 61,413 3%
$15,000 to $19,999 52,926 2%
$20,000 to $24,999 57,398 2%
$25,000 to $29,999 59,099 3%
$30,000 to $34,999 60,370 3%
$35,000 to $39,999 61,764 3%
$40,000 to $44,999 61,863 3%
$45,000 to $49,999 63,970 3%
$50,000 to $59,999 131,924 6%
$60,000 to $74,999 183,614 8%
$75,000 to $99,999 285,004 12%
$100,000 to $124,999 249,498 11%
$125,000 to $149,999 197,609 9%
$150,000 to $199,999 281,245 12%
$200,000 or more 413,831 18%

Maryland Median Income by of Age of Householder

Maryland
Householder under 25 years $49,616
Householder 25 to 44 years $102,281
Householder 45 to 64 years $119,705
Householder 65 years and over $70,792

This table illustrates the median household income in Maryland by the age of the householder. Younger householders under 25 years old have low median income at $49,616. Income levels increase significantly for householders in the middle age ranges. However, income tends to decrease for householders aged 65 and over, with a median income of $70,792. This pattern reflects typical income trends, where earnings tend to peak during mid-career years and taper off as individuals transition into retirement.

Median Income versus Average Income: Which Should You Use?

We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:

  • average is the sum of a set of numbers divided by the count of numbers in the set
  • median is the middle number in the set of numbers
illustration of median vs average

Now let’s say you had the following simplified set of income data.

Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000

The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.

Most Business Owners Should Use Median Income

So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.

When Should You Use Average Income

If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.

Why do so many zip codes have a median value of $250,001?

The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.

About the Data

Sources & Margins of Error

All statistics for Maryland are the most current, comparable statistics available from the US Census Bureau and are from the American Community Survey 2022 5-year estimates. The income values are in 2022 inflation-adjusted dollars and were downloaded on 7 December 2023.

The following data tables were used:

  • B01001 Sex By Age
  • B19001 Household Income in the Past 12 Months (in 2022 inflation adjusted dollars)
  • B19013 Median Household Income in the Past 12 months (in 2022 inflation-adjusted dollars)
  • B19301 Per Capita Income in the Past 12 months (in 2022 inflation-adjusted dollars)
  • S1902 Mean Income in the Past 12 months (in 2022 inflation-adjusted dollars)
  • B19049 Median Household Income In The Past 12 Months (in 2022 Inflation-adjusted dollars) By Age Of Householder

Margins of error for the income data for Maryland

  • Median Household Income: +/-$511
  • Average Household Income: +/-$603
  • Per Capita Income: +/-$225
  • High Income Households: +/-0.2%
  • Median Household Income: Householders under 25: +/-$1,976
  • Median Household Income: Householders 25 to 44: +/-$903
  • Median Household Income: Householders 45 to 64: +/-$1,065
  • Median Household Income: Householders 65+: +/-$780

Poverty Thresholds for 4 Person Households

U.S. Department of Health and Human Services. (2022). Annual update of the HHS poverty guidelines. Federal Register.

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