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Cost of living in Baltimore, MD

Compared with New York. Change city

$2,017a month less for the typical home than in New York1,2

That's $24,202 a year, enough to cover 11 months of the mortgage in Baltimore. The average commute is 5 minutes shorter each way, about 0.9 hours a week back4.

Typical home $375,000 vs $742,000. 2-bedroom rent3 $1,764 vs $1,997. See the math

By Sol Lakein.Checked October 2026.How we compare costs

Baltimore's Inner Harbor, BaltimoreBrendan Beale / Unsplash
All cities
  • Big-city lifeNFL and MLB teams
  • On the waterInner Harbor
  • Train to New YorkAmtrak to NYC

Baltimore at a glance, next to New York

5

What the median home costs each month

1,2
New York metro$4,078/mo
$742,000 typical home
Baltimore$2,061/mo
$375,000 typical home

If you rent: median 2-bedroom

3
New York metro$1,997/mo
Baltimore$1,764/mo
About $233 a month less in rent
Rent by apartment size in Baltimore

Home prices next to New York

1
Typical home for sale
New York metro$742,000
Baltimore$375,000
49% less, a $367,000 difference
Price per square foot
New York metro$494
Baltimore$215
2.3 times the space for the money

Help buying a home

9
Up to $5,000 toward a homeBuying Into Baltimore$5,000 by lottery (20 awards per lottery round); forgivable after five yearsWho qualifies: Attend the Live Baltimore Trolley Tour before making an offer, hold a homeownership counseling certificate, sign a contract on a Baltimore City home in the lottery window, and put at least $1,000 of own funds in.Program details, 2026-10-19 (funds table); site (C) 2026

Weather

8
  • 25.4°January low
  • 88.8°July high
  • 19.3 inSnow per year

Day-to-day costs

  • Housing costs618% pricier than averageNew York: 49% above
  • Salary that matches $150,000 in New York6$139,238
Baltimore in a paragraph

The median listed home in Baltimore is $375,000 (Realtor.com, September 2026), 11% below the US median of $419,250. With 20% down at 7.32%, principal and interest come to about $2,061 a month. The median 2-bedroom rent is $1,764 a month, utilities included (Census, 2025). Everyday prices index at 104.5, where the US average is 100 (BEA, 2024). A $150,000 salary in New York buys the same as $139,238 here.

Your New York, in Baltimore

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Is Baltimore a good place to live?

Baltimore fits families who want homes list 11% below the US median and train to New York. The main trade-off is prices 4% above the US average. Here is what you gain and what you give up.

What you gain

  • Homes list 11% below the US median$375,000 median listing against $419,250 nationally.Realtor.com via FRED, September 2026
  • Train to New YorkAmtrak to NYCAmtrak and transit operator pages
  • Help buying a homeBuying Into Baltimore: Up to $5,000 toward a home.Program page, 2026-10-19 (funds table); site (C) 2026
  • On the waterInner HarborSlower Sundays city profile

What you trade

  • Prices 4% above the US averageEveryday prices index at 104.5 against a US average of 100. Still well below New York's 112.6.BEA regional price parities, 2024

More on Baltimore and Maryland

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Baltimore cost of living: questions people ask

What is the cost of living in Baltimore, MD?

The median listed home in Baltimore is $375,000 (Realtor.com, September 2026), 11% below the US median of $419,250. With 20% down at 7.32%, principal and interest come to about $2,061 a month. The median 2-bedroom rent is $1,764 a month, utilities included (Census, 2025). Everyday prices index at 104.5, where the US average is 100 (BEA, 2024). A $150,000 salary in New York buys the same as $139,238 here.

How much would I save moving from New York to Baltimore?

The median listed home is $375,000 in Baltimore against $742,000 in the New York metro, 49% less. On a mortgage for each median home, that is about $2,017 a month less in principal and interest (20% down, 7.32%, Freddie Mac, October 22, 2026).

How much is rent in Baltimore?

The median gross rent for a 2-bedroom in the Baltimore metro is $1,764 a month, including utilities the renter pays (Census American Community Survey, 2025). In the New York metro it is $1,997, $233 more. The US median is $1,563.

What salary in Baltimore matches $150,000 in New York?

$139,238. That is $150,000 adjusted by the BEA regional price parities for both metros (104.5 in Baltimore, 112.6 in New York, 2024).

Does Baltimore pay you to move there?

Yes. Buying Into Baltimore offers Up to $5,000 toward a home. Who qualifies: Attend the Live Baltimore Trolley Tour before making an offer, hold a homeownership counseling certificate, sign a contract on a Baltimore City home in the lottery window, and put at least $1,000 of own funds in.. Confirm current terms with the program.

What is the weather like in Baltimore?

January lows average 25.4°F and July highs 88.8°F, with 19.3 inches of snow a year (NOAA 1991-2020 normals, Baltimore/Washington International Airport).

Notes on the numbers
  1. 1Home prices: the typical home is the median listing price, with price per square foot, from Realtor.com via FRED, September 2026. The comparison metro uses the same series and month.
  2. 2Monthly cost: Principal and interest on the median listed home with 20% down, 30-year fixed at 7.32% (Freddie Mac 30-year fixed average, week of October 22, 2026). Excludes taxes, insurance and HOA. Rate source
  3. 3Rent: Census ACS 2025 1-year, median gross rent for 2-bedroom units (rent plus utilities). Covers all renters, including long-time tenants, not only new leases. Census table
  4. 4Commute: Census ACS 2025 1-year, table S0801, mean travel time to work (one way, workers who do not work from home), 2025. Hours back assume a 5-day round trip. Census table
  5. 5At a glance: a difference within 5% counts as about the same.
  6. 6Everyday prices, housing costs and the matching salary: BEA regional price parities, 2024, US = 100.
  7. 7Flights: airport route pages, October 2026.
  8. 8Weather: NOAA 1991-2020 normals, Baltimore/Washington International Airport.
  9. 9Incentives: terms come from each program's page. Confirm eligibility with the program before you move.
Sources for this page