🎯 Savings Goal Calculators Maryland

Maryland Savings Goal Calculator

Plan your savings goals in Maryland. Cost of living index 115.4, median income $90,203. See how long to save for your goal with interest.

Free — No Sign-up Verified Data Editorially Reviewed Updated Feb 2026

Maryland Quick Facts

5.8% Income Tax Rate

1.09% Property Tax Rate

$90,203 Median Income

115.4 Cost of Living

How This Calculator Works

Calculation methodology and assumptions

Savings goal projection for Maryland with cost-of-living context. Uses compound interest formula with monthly contributions. Maryland's cost of living index of 115.4 (100 = national average) means savings goals may need to be higher than national benchmarks. The COL-adjusted figure shows what your goal would be at the national average cost of living.

Key State Information

Maryland savings context: Median income $90,203/yr | Cost of living 115.4 (above average) | Recommended 6-month emergency fund: $45,102 | State tax rate up to 5.75%.

Standard financial formulas Pre-filled with real state data Estimates only — not financial advice

Data Source

Bureau of Labor Statistics, Census Bureau

View Original Source | Verified 2024-12-01 | Updated annually

Frequently Asked Questions

How much should I save in Maryland?

Financial experts recommend a 6-month emergency fund. In Maryland (cost of living index 115.4), that's approximately $45,102 based on median income. Beyond that, aim to save 15-20% of gross income for retirement and other goals.

How long does it take to save $10,000 in Maryland?

At Maryland's median household income of $90,203, saving 15% ($1,128/mo) at 4.5% APY, you'd reach $10,000 in about 9 months. Higher contributions or returns shorten this timeline.