Side-by-side comparison of home prices, mortgage payments, and housing costs between Annapolis and Baltimore, Maryland. Using Maryland's 1.09% property tax rate and $1,700/year insurance. Updated for 2026.
Baltimore is significantly more affordable than Annapolis, with homes priced 54% lower on average. That translates to $1,813/month in savings on your total housing payment. For budget-conscious buyers in Maryland, Baltimore offers a much more accessible path to homeownership.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Maryland's 1.09% property tax rate.
Buying in Baltimore saves you approximately $1,813/month ($21,756/year) compared to Annapolis, based on median home prices with identical loan terms.
Baltimore is the better choice for first-time buyers, with a median price of $225K versus $485K in Annapolis. That's $260K less to save for a down payment. You'd need roughly $8K for an FHA 3.5% down payment in Baltimore, compared to $17K in Annapolis. Maryland offers the MD Mortgage Program program (Up to $25,000 DPA) which applies in both cities.
Baltimore has the better price-to-rent ratio at 13.9x versus 21.8x in Annapolis. A lower ratio generally signals better rental income relative to purchase price. Average rent in Baltimore is $1,350/month on a $225K median home, making it a stronger candidate for buy-and-rent investors.
Baltimore (pop. 585,708) offers more amenities, schools, and services typical of a larger city, while Annapolis (pop. 40,812) may offer a quieter, more community-oriented lifestyle. Baltimore offers both more options and lower housing costs, making it attractive for families who want urban amenities without a premium price.