Baltimore city, Maryland Housing Market Prices
Baltimore city 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 Among the top 3 cheapest counties in Maryland$131,225
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Median rent 22% below the Maryland median$1,330
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Baltimore city | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,225 | $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 city 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 city, up about 4.7% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Baltimore city 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 city.
Buying the median-priced home in Baltimore city 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 city. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Baltimore city | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,225 | $267,101 | $248,835 |
| Median Household Income | $62,110 | $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 city 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 city | 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) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Baltimore city 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 city | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.16 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1960 | 1977 | 1978 |
| Median Number of Rooms | 5.5 | 6.2 | 5.5 |
The typical housing unit in Baltimore city was built around 1960. On average, 2.2 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Baltimore city, MD Housing Compared With Nearby Counties
Baltimore city, MD is the 3rd largest of the 6 counties compared here, 573,152 residents against a local median of 336,328. Where Baltimore city, MD breaks from the counties next to it is median home price, sitting 68% below the local median of $406,848 at $131,225.
Homeownership tells the same story from another angle: 47.5% against a local median of 75.1%, 37% below it. The one measure here that carries a verdict is homeownership, and at 37% below the local median it puts Baltimore city, MD at the weaker end of the local range. The counties themselves sit within $117,637 of each other on median home price, a tighter band than the gap between any of them and Baltimore city, MD, which makes it a genuine outlier here rather than one end of a wide local spread. Baltimore city, MD has the 6th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Baltimore city, MD | 573,152 | $131,225 #6/6 | $1,330 #6/6 | 47.5% #6/6 |
| Baltimore County, MD | 850,783 | $326,717 | $1,627 | 66.4% |
| Anne Arundel County, MD | 597,957 | $348,208 | $2,071 | 75.1% |
| Howard County, MD | 336,328 | $444,355 | $2,099 | 71.5% |
| Harford County, MD | 263,722 | $406,848 | $1,585 | 79.7% |
| Carroll County, MD | 175,325 | $443,848 | $1,426 | 84.3% |
Frequently Asked Questions
Common questions about the housing market in Baltimore city, Maryland.
What is the median home price in Baltimore city, Maryland?
The median home price in Baltimore city, Maryland is $131,225, lower than the Maryland average of $267,101.
What is the average home price in Baltimore city, Maryland?
The typical home price in Baltimore city, Maryland, reported as the median sale price, is $131,225. 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 city, Maryland?
The median gross rent in Baltimore city, Maryland is $1,330 per month, lower than the Maryland average of $1,704.
What was the median gross rent in Baltimore city in 2020?
In 2020, the median gross rent in Baltimore city, Maryland was $1,093 per month.
What is the price-to-rent ratio in Baltimore city, Maryland?
The price-to-rent ratio in Baltimore city, 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 city.
Are home prices or rent rising faster in Baltimore city, Maryland?
Both home prices and rent are rising in Baltimore city, up about 4.7% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Baltimore city, Maryland?
41.2% of households in Baltimore city, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Baltimore city, Maryland?
The housing vacancy rate in Baltimore city, Maryland is 13.3%, higher than the Maryland average of 7.7%.
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