Baltimore ranks among most affordable large cities for homebuyers in 2025, report finds
Baltimore ranked 22 on Wallethub's list of most affordable cities for homebuyers in 2025.
The rankings are based on home prices, maintenance costs, tax rates, and vacancy rates.
According to the report, Baltimore has a wide variety of homes available and an average cost of living compared to other cities. The report also says that it's more affordable to buy in Baltimore City than to rent.
That affordability isn't without some cons, some analysts say.
"The bad side is that Baltimore, Maryland in general, it's a high tax state. It's a high regulation state. So before you sign those closing documents, make sure you're aware of everything that comes with it," WalletHub analyst Chip Lupo said.
What's the cost of living in Baltimore?
A 2024 study by SmartAsset found that living comfortably in Baltimore as a single adult requires a nearly $90,000 salary or an hourly wage of $40.86.
That amounts to a $218,733 salary for a family of four with two working adults and two children.
Cost of renting in Maryland
Analysts have said that renting in Maryland comes at a high price. A report released in 2024 ranked Maryland as one of the most challenging places to secure affordable housing.
According to Out of Reach, Marylanders need an hourly wage of approximately $37 to afford a typical two-bedroom apartment without exceeding the recommended 30% of income on housing costs.
The Fair Market Rent for a two-bedroom apartment in Maryland is $1,909, and $1608 for a one-bedroom, according to the report.
That means a household would have to earn $6,362 monthly, or $76,345 annually to afford rent and utilities without spending more than 30% of income on housing - per the study.
The same report ranked Washington, D.C., Arlington, V.A., and Alexandria, V.A., as the most expensive rental areas, and Baltimore, Columbia, and Towson, Maryland as the second most expensive areas to rent.
