CALCMONEY // HOME AFFORDABILITY // MD // BALTIMORE
How much house can you afford in Baltimore? Based on local median home prices, current MD mortgage rates, and Baltimore property tax data.
$310,000
$2,078/mo
$89,043/yr
$172,525
Monthly housing costs of $2,078 represent 43.0% of Baltimore's median gross monthly income ($4,833/mo). At 43.0%, median-income buyers in Baltimore are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $310,000 |
| Down Payment (20%) | $62,000 |
| Loan Amount | $248,000 |
| Monthly PI Payment | $1,633 |
| Monthly Property Tax | $315 |
| Monthly Insurance Est. | $129 |
| Total Monthly PITI | $2,078 |
| Housing Cost % of Income | 43.0% |
| Required Income (28% rule) | $89,043/yr |
| Max Affordable Home | $172,525 |
$10,850
$2,626/mo
Baltimore Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $310,000 | Baltimore city median |
| Down Payment (20%) | $62,000 | Conventional loan |
| Monthly PITI | $2,078 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $89,043 | Annual gross |
| Max Affordable Home | $172,525 | Based on median income |
| FHA Down (3.5%) | $10,850 | Minimum FHA |
| Housing Cost % of Income | 43.0% | Median income: $58,000/yr |
| Property Tax Rate | 1.22% | $3,782/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Baltimore is $310,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $248,000, generating a monthly P&I payment of $1,633. Adding property taxes ($315/mo) and homeowners insurance ($129/mo) brings total monthly PITI to $2,078.
Baltimore's property tax rate of 1.22% is near the national average, adding a standard increment to monthly housing costs. On the Baltimore median home, that is $315/month, or $3,782 per year.
Maryland levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Baltimore should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Baltimore's median income of $58,000/year can afford up to $1,353/month in total housing costs. Based on Baltimore's mortgage rate of 6.9% and property tax rate of 1.22%, that translates to a maximum affordable home price of approximately $172,525 with 20% down on a 30-year loan.
To afford the median Baltimore home priced at $310,000, you need an annual gross income of approximately $89,043. Total monthly housing costs (principal and interest of $1,633, property taxes of $315, and insurance of $129) come to $2,078/month, which equals 28% of the required income.
At the median home price of $310,000 and median household income of $58,000, the total monthly housing cost of $2,078 represents 43.0% of gross monthly income. This is well above the standard 28% threshold, making Baltimore a challenging market for buyers at median income.
A conventional 20% down payment on the median Baltimore home of $310,000 is $62,000. An FHA loan requires just 3.5% down — $10,850 — but adds mortgage insurance of roughly $212/month, bringing total FHA payments to $2,626/month.
Rockville
$680,000 median
MDGaithersburg
$550,000 median
MDColumbia
$450,000 median
MDSilver Spring
$385,000 median