Quick facts: Halethorpe, MD

Quick Facts

114.1
Cost of Living
above US average
19,144
Population
7.84
Crime Rate per 1000
below US average
$90,000
Median Income
above US average
$335,000
Median House Price
above US average
$1744.91
Average Rent
above US average
5%
Poverty Rate
below US average
4.0%
Unemployment Rate
below 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 $90,000.

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Income Needed to Buy

βœ— Stretch
$105k/year
Based on $335,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $105k vs median $90,000
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Income Needed to Rent

βœ“ Affordable
$75k/year
Based on $1744.91/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($90,000) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Halethorpe, MD

Halethorpe, Maryland, is a suburban community located just outside of Baltimore, in Baltimore County. Known for its convenient access to major highways and proximity to downtown Baltimore, it offers residents a blend of suburban tranquility and urban amenities. The area is primarily residential, with tree-lined streets and a mix of single-family homes, townhouses, and apartments. Halethorpe is served by several parks and recreational facilities, making it a great spot for outdoor activities. Nearby, the Patapsco Valley State Park offers hiking, biking, and scenic views along the Patapsco River. The community boasts a strong sense of neighborhood, with local events and gatherings fostering connections among residents. Transportation options are plentiful, with easy access to I-95 and the Maryland Transit Administration's light rail service, facilitating commutes to Baltimore and surrounding areas. With its blend of access, recreation, and community spirit, Halethorpe represents a charming and convenient place to live for those working in or around Baltimore.

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