Rent vs Buy in Baltimore, MD
At a median listing price of $389,900, Baltimore lands close to the national middle. There is no built-in advantage to renting or buying here, so your own inputs decide it.
With rent around $1,250 a month, Baltimore's price-to-rent ratio lands close to the national middle. No structural edge falls to either renting or buying, so your own numbers settle it.
How Baltimore compares
- Homes in Baltimore cost 12% less than the national median of $443,255.
- Rent in Baltimore runs 43% lower than the U.S. median of $2,200/mo.
- Homes in Baltimore cost 10% less than the Maryland median of $432,450.
What the numbers say
On a $389,900 median home at 1.00%, property tax in Baltimore runs about $325 a month ($3,899 a year). That is the single largest owning cost a renter never pays directly, and it is worth modeling before you compare.
On the renting side, the figure to beat is $1,250 a month, or $15,000 a year. Appreciation near 6.7% a year is close to the long-run norm, so the calculator's conservative 3 to 3.5% anchor is not far from recent local experience.
For insurance we use the Maryland average, $1,300 a year, until you can drop in an actual quote for a specific home.
What makes the rent-vs-buy math different in Baltimore
Baltimore's price-to-rent ratio is about 26.0: the $389,900 median price divided by $1,250 a month in rent over a year. That is a mid-range ratio, leaving the rent-vs-buy answer to your down payment, mortgage rate, and stay length. That ratio is a useful shortcut, not the whole answer. It points to which side leads at the start, then the full calculation fills in the rest.
With a mid-range ratio, renting and buying in Baltimore start on roughly even footing. Where the break-even lands depends on your down payment, rate, and how fast rents rise, which the calculator below pins down.
A few Baltimore specifics sharpen that read. Census ACS 2024 data put median household income at $98,666 with poverty at 9.2%, better than national norms. Source. From May 2024 to May 2025, the Baltimore metro added 9,200 jobs in education and health services, including a 10,300-job increase in health care and social assistance. Source.
Home Purchase
Enter details about the home you're considering buying
Renting
Enter details about your rental alternative
Time Horizon & Market
Detailed mode adds 17 more inputs including advanced assumptions.
Buying is cheaper over 7 years
by $31,485
Buying comes out ahead, though the margin is meaningful only if you stay the full term and your assumptions hold roughly true.
The result is robust across small changes to your inputs.
Total cost of buying
$387,138
Average $4,609 per month over 7 years
Total cost of renting
$207,949
Average $2,476 per month over 7 years
Equity Built
$245,691
What you've paid down on the loan principal over 7 years.
Net Sale Proceeds
$211,339
What you'd walk away with after selling, minus closing costs.
Investment Growth
$65,204
What the down payment could grow to if invested instead of used to buy.
This chart shows total dollars spent on each path, month by month. With your inputs and time horizon, renting stays ahead the entire time.
Frequently Asked Questions
By Barron Hansen, Founder · Last reviewed