Mortgage payment estimates, closing cost breakdowns, and homebuying data for Baltimore, Maryland.
Pre-filled with Baltimore median home price and Maryland tax/insurance rates. Adjust for your property.
Estimated closing costs based on Maryland rates and fees applied to Baltimore prices.
The median home price in Baltimore is $225,000, 46% below the Maryland state median of $420,000. With a population of 585,708, Baltimore is a major metro area where home prices tend to be more accessible than in many parts of Maryland.
Property taxes in Maryland average 1.09% annually. This moderate property tax rate means a $225,000 home in Baltimore would carry roughly $204/month in property taxes. Homeowners insurance in Maryland runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Baltimore is $1,350/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Baltimore over the long term.
Baltimore offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Maryland's MD Mortgage Program program.