Salary & Cost of Living in Towson, MD
Towson, MD: $74,185 median salary, cost of living index 116.3, $15.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$74,185
$36/hr
Cost of Living
116.3
US avg = 100
Minimum Wage
$15.00
per hour
Unemployment
3.1%
rate
Towson, MD Overview
Population
57,542
Median Salary
$74,185
Average Salary
$83,087
Avg Commute
16 min
Median Home Price
$386,000
Median Rent
$1,573/mo
Job Growth
+1.2%
Sales Tax
6%
Towson is located in Maryland with a population of 57,542. The median household salary is $74,185 per year ($36/hour), which is $14,801 above the national median of $59,384. The average commute time is 16 minutes, and the city has a job growth rate of +1.2%.
Towson Salary by Experience Level (2026)
Wage distribution in Towson, MD based on BLS percentile breakdown of the $74,185 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $45,995 | $22.12/hr | 0–2 years |
| Mid-Level (Median) | $74,185 | $35.67/hr | 3–7 years |
| Senior-Level | $105,343 | $50.65/hr | 8–15 years |
| Top 10% (90th Percentile) | $132,049 | $63.49/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Towson Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Towson, MD, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$56,109
$4,675.77/month · $2,158.05/biweekly · Effective Rate: 24.4%
Gross Pay
$74,185
Federal Tax
-$7,935
State Tax
-$4,266
Local Tax
-$200
FICA
-$5,675
Net Pay
$56,109
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $6,182.08 | $74,185.00 |
| Federal Income Tax | -$661.23 | -$7,934.70 |
| Maryland State Tax (5.75%) | -$355.47 | -$4,265.64 |
| Local Tax (0.27%) | -$16.69 | -$200.30 |
| Social Security (6.2%) | -$383.29 | -$4,599.47 |
| Medicare (1.45%) | -$89.64 | -$1,075.68 |
| Net Take-Home Pay | $4,675.77 | $56,109.21 |
Salary Comparison: Towson vs Other Cities
See how Towson's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Towson, MD | $74,185 | 116.3 | $63,788 |
| National Average | $59,384 | 100 | $59,384 |
| Bridgewater, NJ | $74,152 | 122.7 | $60,434 |
| Woodlawn, MD | $74,134 | 106.1 | $69,872 |
| Milford, MA | $74,110 | 120.8 | $61,349 |
| Piscataway, NJ | $74,103 | 126.3 | $58,672 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Towson
Towson's cost of living index is 116.3 (national average = 100). Living in Towson is 16.299999999999997% more expensive than the national average.
Median Home Price
$386,000
Median Monthly Rent
$1,573
Annual Rent Cost
$18,876
Your Salary's Purchasing Power
Your $56,109 annual take-home pay in Towson has the purchasing power of approximately $48,245 in an average-cost US area. You would need to earn $86,277 in Towson to match a $74,185 salary in an average-cost city.
Top Industries in Towson
Towson's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $74,185.
Salary Tips for Towson Workers
- Maximize pre-tax deductions. With a 5.75% state income tax rate, maximizing 401(k) contributions (up to $24,500 in 2026) and HSA contributions can significantly reduce both your federal and state tax burden.
- Research top industries. Towson's top industries include Cybersecurity, Biotech, Government. Targeting roles in these sectors can help you earn above the $74,185 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Methodology & Local Economy Data Sources
How we calculate Towson salary data: Our citywide compensation figures aggregate occupation-specific salary data from BLS Occupational Employment and Wage Statistics for the Towson-MD metropolitan statistical area (MSA), weighted by local employment counts. Cost-of-living adjustments use the C2ER Cost of Living Index baseline of 100 (national average), with Towson indexed at 116.3.
- Median salary calculation: weighted average of Towson's occupation-specific medians from BLS OEWS, adjusted for local cost of living. Net result: $74,185 annual median.
- Tax burden reflects Maryland state income tax (5.75%), plus Towson local tax of 0.27%, sales tax (6%), and federal taxes per IRS 2026 brackets.
- Unemployment rate for Towson: 3.1%, sourced from BLS Local Area Unemployment Statistics (LAUS).
- Top industries: Cybersecurity, Biotech, Government — based on QCEW employment concentration data.
- Job growth: 1.2% projected through 2034, derived from BLS Employment Projections program for Maryland.
- Housing context: median home price $386,000, median rent $1,573/mo, sourced from Census American Community Survey 5-year estimates.
Authoritative US data sources for Towson, MD:
- BLS Occupational Employment and Wage Statistics (OEWS) — metropolitan area salary data
- BLS Local Area Unemployment Statistics — Towson unemployment rate
- U.S. Census Bureau — Towson QuickFacts — population, housing, demographics
- BLS Quarterly Census of Employment and Wages (QCEW) — county-level industry employment
- BLS Economy at a Glance — Maryland — state economic indicators
- U.S. Bureau of Economic Analysis (BEA) — local GDP and personal income data
- BLS Consumer Price Index (CPI-U) — regional inflation tracking
Disclaimer: Salary and cost data are estimates for general guidance. Individual compensation varies by employer, experience, education, negotiation, and skills. Towson's rapidly changing economy can shift these baselines — always verify with current job listings, employer offers, and recent Maryland labor market reports for the most current figures.
Reviewed by Brazora Monk· Last updated 2026 · BLS & Census data current as of latest releases
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Frequently Asked Questions
What is the median salary in Towson, MD?
The median salary in Towson, MD is $74,185 per year, or $36 per hour. The average salary is $83,087. This is $14,801 above the national median of $59,384.
What is the cost of living in Towson, MD?
Towson's cost of living index is 116.3 (national average = 100), meaning it is 16.299999999999997% more expensive compared to the national average. The median home price is $386,000 and the median monthly rent is $1,573.
What are the best industries in Towson?
The top industries in Towson, MD include Cybersecurity, Biotech, Government. The city has a job growth rate of 1.2% and an unemployment rate of 3.1%. Workers in these industries often earn above the city's median salary of $74,185.
How does Towson's salary compare to other cities?
Towson's median salary of $74,185 is 24.9% above the national median of $59,384. However, when adjusted for cost of living (index: 116.3), the real purchasing power is approximately $63,788.
What is the minimum wage in Towson, MD?
The minimum wage in Towson, MD is $15.00 per hour. This equals approximately $31,200 per year for a full-time worker (40 hours/week). This is $7.75 above the federal minimum wage of $7.25/hour.