The typical owner-occupied home in Baltimore city is worth about $229,600, 45% below the Maryland median of $419,900 and 31% below the national median of $332,700. Owners pay a median $3,354 a year in property taxes, about 1.46% of their home's value, higher than the Maryland rate of 0.97%. The median household earns $62,177 a year, so the median home costs 3.7 times the median income (4.1 times for Maryland). 48% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Baltimore city at a glance
| Baltimore city | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $229,600 | $419,900 | $332,700 |
| Median property tax paid per year | $3,354 | $4,093 | $3,119 |
| Property tax as a share of value | 1.46% | 0.97% | 0.94% |
| Median household income | $62,177 | $103,678 | $80,734 |
| Homes lived in by their owners | 48% | 68% | 65% |
| Owner homes with a mortgage | 68% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $1,789 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 22.0% | 20.5% | 21.0% |
| Median rent | $1,331 | $1,705 | $1,413 |
| Rent as a share of renters' income | 32.0% | 30.8% | 30.6% |
| Median year homes were built | 1947 | 1979 | 1980 |
| Vacant homes | 13.3% | 7.7% | 10.1% |
| Population | 573,243 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Baltimore city
At this week's average 30-year rate of 7.18%, buying the median Baltimore city home of $229,600 with 20% down costs about $1,619 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,004, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $69,399 for the 20%-down payment. That payment is 31% of the median Baltimore city household income of $62,177; at that income and 20% down, the 28% guideline points to a home of about $206,000.
The median rent here is $1,331 a month, so owning the median home costs about $288 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $45,920 |
|---|---|
| Loan amount | $183,680 |
| Principal and interest | $1,244 |
| Property taxes (1.46% a year) | $279 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| PMI | $0 |
| Total per month | $1,619 |
Change the numbers in the calculator
| Down payment | $8,036 |
|---|---|
| Loan amount | $225,441 |
| Principal and interest | $1,527 |
| Property taxes (1.46% a year) | $279 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| FHA mortgage insurance | $102 |
| Total per month | $2,004 |
Change the numbers in the calculator
Questions about home buying in Baltimore city
What is the median home value in Baltimore city?
About $229,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Baltimore city?
Homeowners pay a median $3,354 a year, which is about 1.46% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Baltimore city?
For the median home with 20% down at 7.18%, the payment is about $1,619 a month. Keeping that under 28% of gross income takes about $69,399 a year.
More about Baltimore city
- Mortgage Refinance in Baltimore city
- Debt Relief in Baltimore city
- Home Equity Loans in Baltimore city
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 5, 2026. Estimates for small places have wide margins of error. About our data