Cost of Living in Baltimore: What Salary Do You Need to Buy a Home?

To buy a median-priced Baltimore home (around $285,000) at today's 6.58% 30-year fixed rate with 20% down, you'd need roughly $46k/year in household income to qualify — an estimated monthly payment of $1,709 (principal, interest, property tax, and insurance).

The typical Baltimore household earns $73,000 — above what the median home requires. At that income, a buyer can afford roughly $474,000 with 20% down.

Estimates use a 6.58% 30-year fixed rate (current Freddie Mac average), an aggressive ~45% housing-to-income ratio (roughly what FHA underwriting can allow for a buyer with no other monthly debts — your number depends on your debts and credit), this area's median sale price and median property taxes, plus estimated insurance and PMI below 20% down. Not a commitment to lend, and not an APR — your actual rate and payment will vary.