Quick facts: Baltimore, MD

Quick Facts

115.3
Cost of Living
above US average
569,931
Population
48.36
Crime Rate per 1000
above US average
$58,349
Median Income
below US average
$274,900
Median House Price
above US average
$1901.41
Average Rent
above US average
16%
Poverty Rate
above US average
4.3%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $58,349.

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Income Needed to Buy

βœ— Stretch
$86k/year
Based on $274,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $86k vs median $58,349
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Income Needed to Rent

⚠ Stretch
$81k/year
Based on $1901.41/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $81k vs median $58,349
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Baltimore, MD

Baltimore, Maryland, known as the "Charm City," is a vibrant urban hub located on the Patapsco River. Renowned for its rich history and cultural diversity, Baltimore is home to a population of around 600,000 residents. The city boasts an array of attractions, including the Inner Harbor, a bustling waterfront area filled with restaurants, shops, and waterfront attractions like the National Aquarium and the Maryland Science Center. Baltimore is also famous for its historic neighborhoods, such as Fells Point and Federal Hill, which feature cobblestone streets, local artisan shops, and cozy eateries. The city has a significant arts scene, with the Baltimore Museum of Art and the Walters Art Museum showcasing impressive collections. Sports enthusiasts can enjoy games from the city's professional teams, including the Baltimore Ravens (NFL) and the Baltimore Orioles (MLB). The city is well-connected via public transit, making it easy to explore its various neighborhoods and attractions. Additionally, Baltimore is an educational center, with institutions like Johns Hopkins University contributing to the city’s dynamic economy and research initiatives.

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