BALTIMORE, MD—Maryland has secured the third spot in a new national study that measures the true wealth of states, factoring in not just high incomes but also the crucial element of purchasing power.
The research, conducted by QuickBooks data automation platform Dancing Numbers, analyzed key economic indicators including median household income, GDP per capita, annual cost of living, and, most critically, disposable income. Maryland earned a Wealth Score of 90.01 out of 100, ranking just behind California (100) and New Hampshire (97.84).
The Maryland Advantage: Income and Balance
Maryland’s high ranking is primarily supported by its substantial earnings and a beneficial balance between wages and living expenses. The state boasts a strong median household income of $109,700 and a significant GDP per capita of $546,028.
According to the study’s findings, the average annual cost of living in Maryland sits at $54,427 for a single adult. Subtracting this from the mean annual wage leaves residents with an impressive disposable income of $55,273…