Economists Salary
In Baltimore-Columbia-Towson, MD, economists earn $152,730 at the median, or about $73.43 an hour. The range runs from $81K at the entry level to $195K for experienced workers. Adjusted for local prices (RPP 104.49), that's roughly $146,167 in purchasing power. Rent on a 2-bedroom averages $1,857/month, or 20.6% of estimated take-home pay.
So what does $153K get you in Baltimore-Columbia-Towson?
Groceries, utilities, transportation, and healthcare scaled from national averages by Baltimore-Columbia-Towson’s Regional Price Parity (104.49). Rent from HUD Fair Market Rents. Taxes estimated for single filer, standard deduction. * Healthcare is the employee-paid share only (premiums + out-of-pocket). Actual costs vary by coverage type: employer-sponsored, ACA marketplace, or uninsured.
About economists
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What this looks like in Baltimore-Columbia-Towson
Baltimore-Columbia-Towson sits well above the national pay line for economists, local pay runs about 22% higher than the U.S. median of $125K. Housing is manageable: a 2-bedroom at the HUD median costs $1,857/month, 20.7% of take-home, well inside the 30% guideline. Cost of living (RPP 104.49) is near the national average, so spending patterns here track the typical American budget fairly closely. Combined with manageable housing costs, Baltimore-Columbia-Towson offers a genuinely strong financial position for economistss at the median.
Compared to nearby metros
Median pay for economists in metros near Baltimore-Columbia-Towson, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Washington-Arlington-Alexandria | $157K | $144K |
| Philadelphia-Camden-Wilmington | $140K | $136K |
| Harrisburg-Carlisle | $80K | $81K |
| Richmond | $112K | $115K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Baltimore-Columbia-Towson, MD
Entry-level economists (10th percentile) start around $81K. Mid-career wages sit at $153K. Top earners bring in $195K or more, a $115K spread from bottom to top.
Economists pay across states
Median income ranked highest to lowest, compared to the national figure
View Economists salary in all states
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| District of Columbia | $168K | +34% | 3,000 |
| New Jersey | $168K | +34% | 280 |
| Delaware | $159K | +28% | 70 |
| Maryland | $145K | +16% | 1,130 |
| Kansas | $139K | +11% | 80 |
| Virginia | $138K | +10% | 950 |
| New York | $137K | +10% | 910 |
| North Carolina | $136K | +9% | 290 |
| Idaho | $131K | +5% | 130 |
| Alabama | $130K | +4% | 40 |
| Georgia | $123K | -2% | 260 |
| Oregon | $122K | -2% | 320 |
| Texas | $121K | -3% | 560 |
| Colorado | $121K | -3% | 240 |
| Ohio | $120K | -4% | 140 |
| California | $119K | -4% | 860 |
| Tennessee | $118K | -6% | 80 |
| Missouri | $117K | -6% | 280 |
| Pennsylvania | $115K | -8% | 560 |
| Alaska | $111K | -11% | 80 |
| Washington | $109K | -12% | 450 |
| Massachusetts | $106K | -15% | 1,030 |
| Michigan | $106K | -15% | 320 |
| Minnesota | $105K | -16% | 500 |
| Florida | $102K | -18% | 500 |
| Connecticut | $101K | -19% | 210 |
| Iowa | $96K | -23% | 70 |
| Arkansas | $92K | -27% | 50 |
| Maine | $91K | -27% | 70 |
| Nevada | $91K | -27% | 70 |
| Oklahoma | $90K | -28% | 80 |
| Montana | $89K | -28% | 90 |
| New Hampshire | $86K | -31% | 50 |
| Wisconsin | $84K | -33% | 280 |
| Hawaii | $83K | -33% | 50 |
| Indiana | $81K | -35% | 80 |
| Arizona | $80K | -36% | 340 |
| Nebraska | $76K | -39% | 90 |
| Louisiana | $73K | -41% | 140 |
| Kentucky | $71K | -43% | 100 |
Showing 1–10 of 40 states with published data
BLS does not publish data for every state when sample sizes are too small
Track economists salary changes
BLS updates this data quarterly. We'll email you when Baltimore-Columbia-Towson numbers change.
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Frequently asked questions
Can a economist afford a 2BR apartment alone in Baltimore-Columbia-Towson?
Yes — at the median salary of $153K, rent takes 20.7% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,857/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for economists in Baltimore-Columbia-Towson?
The 10th-percentile wage — what new economists typically earn — is $81K/year. Take-home on that works out to about $4,838/month. At HUD’s $1,857/month FMR, rent would take 38% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is economist a high-paying job in Baltimore-Columbia-Towson?
Local pay is 22% above the national median — $153K here vs. $125K nationally.
How does Baltimore-Columbia-Towson compare to the national average for economists?
Baltimore-Columbia-Towson pays $153K median vs. the U.S. average of $125K — that’s +22%. After adjusting for local cost of living (RPP 104.49), the purchasing-power equivalent is $146K — still ahead of the national median.
How much do economists make in Baltimore-Columbia-Towson, MD?
The median is $152,730 a year, that works out to about $73 an hour. But the range is wide: entry-level workers start around $80,630, and experienced economists can clear $195,190. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $153K enough to live in Baltimore-Columbia-Towson?
On that salary, you'd take home roughly $8,990/month after taxes. A 2-bedroom here rents for about $1,857/month, which eats 20.7% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a economists salary go in Baltimore-Columbia-Towson?
Baltimore-Columbia-Towson has a Regional Price Parity of 104.49 (100 is the national average). Prices are above average here, so your dollar buys less than the same salary would in a cheaper metro. After cost-of-living adjustment, the median economists salary is worth about $146,167 in national-average purchasing power.
Where do economists get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.