Less than an hour from Washington, D.C., along the beautiful Chesapeake Bay sits the thriving city of Baltimore. Known as “Charm City” for its endearing, small-town feel, Baltimore offers many career opportunities, along with good schools and a scenic, waterfront community for people of all demographics to call home.
While high-rise apartments dominate many cities of its size, Baltimore has many historic rowhomes that you can rent right in the heart of the city. Plus, they offer the opportunity to enjoy more space with access to all of the city’s most popular amenities.
From sprawling urban parks to a growing brewery scene and a thriving entertainment district, there is so much to love about Baltimore. Check out a baseball game at Camden Yards, cheer on the Baltimore Ravens at the downtown stadium or engage yourself in the horse-racing culture during Preakness season. You will never feel bored in beautiful Baltimore.
So, what exactly does it take to rent an apartment in Baltimore? Get to know this charming Maryland city to see which neighborhoods fall within your budget.
What is the average rent in Baltimore?
The average cost of a one-bedroom apartment in Baltimore is $1,659 per month, down 5.6 percent year over year. This is higher than the national average of $1,598 but still more manageable than nearby cities such as Washington, D.C., Philadelphia and Annapolis.
Studios and one-bedroom apartments in Baltimore have been dropping in cost, as many rentals have during the coronavirus pandemic, with studio apartments dropping 3.3 percent in price compared to the year prior.
A true sign of Baltimore’s family-friendly nature, three-bedroom rentals in this city are seeing a 22.9 percent increase.
Renters are making a shift towards larger rentals, especially as more people are spending time at home. The average three-bedroom rental in Baltimore is approximately $2,478 per month. This can often get you a rowhome with more space and even popular amenities like courtyards, parking and rooftop decks.
How much do I need to make to live in Baltimore?
Experts recommend spending no more than 30 percent of your pre-tax income on your housing. So to live comfortably in Baltimore, you will need to earn $66,560 per year to afford an average one-bedroom. If you plan on renting a three-bedroom apartment, you will need an average income of $99,120 per year.
The good news is Baltimore is home to many major employers, including Johns Hopkins University, T. Rowe Price, Pandora and Under Armour, and has a thriving job market.
So, how much apartment can you afford? For more detailed information on how much rent to spend, check out our rent calculator. This tool can show you which neighborhoods and properties would best suit your budget.
The cost of living in Baltimore
The overall cost of living in Baltimore is 7.3 percent above the national average. However, compared with the high cost of living in Washington, D.C., and surrounding metro areas (which are 55.3 percent more than the national average), it is easy to see why so many people love to call Baltimore home.
Take a look at what other expenses you can plan for in this coastal city.
- Healthcare: The cost of healthcare in Baltimore is 16.8 percent below the national average.
- Miscellaneous goods and services: The cost of miscellaneous goods and services in Baltimore is 3.9 percent more than the national average.
- Utilities: The cost of utilities in Baltimore are 5.5 percent higher than the national average.
- Transportation: The cost of transportation in Baltimore is 6.5 percent higher than the national average.
- Groceries: The cost of groceries in Baltimore is 9.6 percent above the national average.
- Housing: The cost of housing in Baltimore is 15.3 percent higher than the national average.
The most and least expensive neighborhoods in Baltimore
One of the many things that makes Baltimore such a unique city is the wide array of housing options. Not all of the most or least expensive neighborhoods are necessarily in one geographic location. These Baltimore neighborhoods are relatively spread out throughout the metropolitan area.
The most expensive Baltimore neighborhoods
A few Baltimore neighborhoods are known for being some of the most expensive in the area. While these rentals may come with a higher price tag, they also come with myriad benefits. These include lower crime and better access to amenities.
At the top of the list of most expensive neighborhoods in Baltimore, there is the Inner Harbor, which has an average rent of $2,747. This area in the heart of the city offers waterfront views and access to many amenities and Interstate 95.
Nearby Inner Harbor is the community of Riverside, where you can rent a spacious townhome and still walk to downtown, the waterfront and all that South Baltimore has to offer.
For those who prefer the east side of the city, several neighborhoods top the list, including Patterson Park and neighboring Canton. Patterson Park, located along a city park of the same name, has seen a drastic increase in rent by 19.47 percent over the past year as it continues to grow in popularity. Both communities are known for their thriving, young professional population.
North of the city, there are trendy Hampden and Woodberry, which offer a quieter feel than downtown with close proximity to the city and the heavily populated north suburbs.
| Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | Inner Harbor | $2,747 | 9.55% |
| 2 | Riverside | $2,588 | N/A |
| 3 | Baltimore-Linwood | $2,094 | 19.47% |
| 4 | Patterson Park | $2,094 | 19.47% |
| 5 | Fells Point | $2,073 | -4.68% |
| 6 | Sharp Leadenhall | $2,064 | 0.78% |
| 7 | Canton | $1,910 | 2.04% |
| 8 | Woodberry | $1,864 | -4.26% |
| 9 | Hampden | $1,838 | 1.22% |
| 10 | Canton Park | $1,813 | 1.67% |
The least expensive Baltimore neighborhoods
Individuals looking for a bargain in Charm City will find a few different affordable neighborhoods in Baltimore. There are even some up-and-coming affordable areas that are on the verge of gentrifying.
Cherry Hill is one of those places which has seen a steady increase in rent prices. Still, with the average one-bedroom rent hovering around $891, it’s the right time to stake your claim. Cherry Hill and its surrounding neighborhoods, located on the other side of the Hanover Bridge, are up-and-coming areas. This waterfront neighborhood will be across from the highly anticipated Port Covington development, one of the biggest projects in the city’s history.
The northern region of downtown and Interstate 83 (a popular route for commuters) is also two affordable, up-and-coming areas to consider. Cylburn is one of the most affordable rental markets in the area. Nestled next to the popular Druid Hill Park, this neighborhood is perfect for those who want to enjoy the outdoors.
Nearby is the trendy Reservoir Hill, which has stunning, historic homes. Many of these residences have gotten a facelift and are now modern, accommodating rental apartments. Reservoir Hill borders the infamous Bolton Hill neighborhood, Maryland Institute College of Art and Interstate 83.
| Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | Parkside | $759 | 2.73% |
| 2 | Cedonia | $776 | 3.79% |
| 3 | Cylburn | $783 | 0.00% |
| 4 | Reservoir Hill | $788 | -8.32% |
| 5 | Cameron Village | $791 | -1.16% |
| 6 | West Hills | $815 | N/A |
| 7 | Frankford | $819 | -6.97% |
| 8 | Yale Heights | $840 | -0.03% |
| 9 | Seton Hill | $850 | 0.27% |
| 10 | Medford | $853 | -0.49% |
Average rent prices in Baltimore neighborhoods
There are so many different neighborhoods within Baltimore City, including those at the top and the bottom of the rental market. Take a look at the average rent prices throughout some of Baltimore’s most popular neighborhoods to determine what you can plan on spending to live in these areas.
| Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|
| Ashburton* | $855 | 1.73% |
| Baltimore-Linwood | $2,094 | 19.47% |
| Barclay | $1,309 | -0.26% |
| Bolton Hill | $1,216 | -4.62% |
| Cameron Village | $791 | -1.16% |
| Canton Park | $1,813 | 1.67% |
| Canton | $1,910 | 2.04% |
| Cedonia | $776 | 3.79% |
| Charles Street Scenic Byway* | $1,385 | N/A |
| Charles Village | $1,499 | -13.05% |
| Cherry Hill | $891 | 3.60% |
| Cheswolde | $1,099 | 0.84% |
| Cold Spring | $956 | N/A |
| Cross Country | $1,052 | 1.35% |
| Cylburn | $783 | 0.00% |
| Downtown | $1,567 | -6.67% |
| Eastern Baltimore* | $960 | N/A |
| Fallstaff | $905 | -17.51% |
| Fells Point | $2,073 | -4.68% |
| Frankford | $819 | -6.97% |
| Franklintown | $1,073 | 9.77% |
| Glen Oaks* | $1,157 | 0.80% |
| Hamilton Hills | $924 | 8.37% |
| Hampden | $1,838 | 1.22% |
| Hanlon Longwood | $999 | N/A |
| Idlewood | $1,048 | 1.62% |
| Inner Harbor | $2,747 | 9.55% |
| Lake Walker | $1,141 | 4.37% |
| Lakeland | $916 | 1.40% |
| Medford | $853 | -0.49% |
| Mid-Town Belvedere | $1,427 | -23.82% |
| Middle East* | $960 | N/A |
| Mount Vernon | $1,432 | -0.46% |
| Mt. Washington* | $1,010 | N/A |
| Northeastern Baltimore | $882 | -3.44% |
| Northern Baltimore | $1,644 | 23.37% |
| Northwestern Baltimore | $1,077 | -0.39% |
| Parkside | $759 | 2.73% |
| Patterson Park | $2,094 | 19.47% |
| Penrose - Fayette Street | $1,049 | N/A |
| Reisterstown Station | $1,172 | -7.97% |
| Reservoir Hill | $788 | -8.32% |
| Riverside | $2,588 | N/A |
| Seton Hill | $850 | 0.27% |
| Sharp Leadenhall | $2,064 | 0.78% |
| Southern Baltimore | $1,757 | 28.29% |
| Southwestern Baltimore | $886 | -3.24% |
| Ten Hills | $1,024 | 2.27% |
| Tuscany - Cantebury | $1,450 | 12.21% |
| Uplands | $959 | 2.11% |
| West Forest Park* | $942 | -0.35% |
| West Hills | $815 | N/A |
| Western Baltimore | $1,035 | N/A |
| Woodberry | $1,864 | -4.26% |
| Yale Heights | $840 | -0.03% |
*May not be a true market representation due to insufficient inventory
Find your Baltimore neighborhood
If you are ready to find a new rental in Baltimore, check out our Baltimore apartment guide. Here, you can determine how much to spend on your apartment and find properties that fit your requirements.
Whether you are looking for a spacious rowhome or a studio apartment, there are properties in Baltimore waiting for you.
