Baltimore, Maryland Housing Market Prices
Baltimore Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 51% below the Maryland median$131,224
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Median rent 22% below the Maryland median$1,330
Housing Market Overview
| Metric | Baltimore | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,224 | $267,101 | $248,835 |
| Price Trend (Annual %) | 4.7% | 3.4% | 7.5% |
| Median Gross Rent | $1,330 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Baltimore is about 51% lower than in Maryland. Rent is about 22% lower than the Maryland average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Baltimore, up about 4.7% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Baltimore rose about 40.0% between 2015 and 2024, from $950 to $1,330. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Baltimore.
Buying the median-priced home in Baltimore costs roughly 8.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Baltimore. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Baltimore | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,224 | $267,101 | $248,835 |
| Median Household Income | $62,111 | $103,916 | $80,455 |
| Price-to-Income Ratio | 2.1 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Baltimore rose about 40.4%, while median household income rose about 58.4% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Baltimore | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.2% | 62.4% | 58.5% |
| Rental Rate | 45.5% | 29.9% | 31.2% |
| Vacancy Rate | 13.3% | 7.7% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Baltimore has a homeownership rate of 41.2%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 13.3%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Baltimore | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.16 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1953 | 1977 | 1978 |
| Median Number of Rooms | 5.5 | 6.2 | 5.5 |
The typical housing unit in Baltimore was built around 1953. On average, 2.2 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Baltimore, Maryland.
What is the median home price in Baltimore, Maryland?
The median home price in Baltimore, Maryland is $131,224, lower than the Maryland average of $267,101.
What is the average home price in Baltimore, Maryland?
The typical home price in Baltimore, Maryland, reported as the median sale price, is $131,224. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Baltimore, Maryland?
The median gross rent in Baltimore, Maryland is $1,330 per month, lower than the Maryland average of $1,704.
What was the median gross rent in Baltimore in 2020?
In 2020, the median gross rent in Baltimore, Maryland was $1,093 per month.
What is the price-to-rent ratio in Baltimore, Maryland?
The price-to-rent ratio in Baltimore, Maryland is about 8.2, meaning it would take roughly 8.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Baltimore.
Are home prices or rent rising faster in Baltimore, Maryland?
Both home prices and rent are rising in Baltimore, up about 4.7% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Baltimore, Maryland?
41.2% of households in Baltimore, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Baltimore, Maryland?
The housing vacancy rate in Baltimore, Maryland is 13.3%, higher than the Maryland average of 7.7%.
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