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Buying a home in Baltimore, MD

Quick answer

The typical home in Baltimore, MD is valued around $219,300 (Census ACS). A 3.5% FHA down payment is about $7,676, with an estimated monthly payment near $1,870 at 7.18%. Under the 28% rule you'd need roughly $81,000 a year. Baltimore city's 2026 FHA limit is $747,500.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

With about 577,193 residents, Baltimore is one of the largest cities in Maryland, and its median home value of $219,300 is below the Maryland median of $397,700. The median home costs about 3.7× the median household income of $59,623, so many buyers pair a low-down-payment loan with assistance. Prices sit in the range where FHA and 3%-down conventional loans are both common.

How much does it cost to buy a typical home in Baltimore?

ScenarioDown paymentEst. monthly paymentIncome needed (28% / 36%)
FHA, 3.5% down$7,676$1,870$81,000 / $63,000
Conventional, 20% down$43,860$1,503$65,000 / $51,000

Estimates use the Census median home value, a 30-year rate (see below), Maryland's 1.00% effective property tax rate, $1,578/yr insurance (NAIC state average) and FHA mortgage insurance.

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

What are the 2026 loan limits for Baltimore?

Baltimore is in Baltimore city, where the single-family FHA limit is $747,500 (max price ≈ $774,000 with 3.5% down) and the conforming limit is $832,750. Loans above that are jumbo loans.

Is there down payment assistance in Baltimore?

What mortgage options do Baltimore buyers have?

  • Conventional Loan — Not government-backed; as little as 3% down for first-time buyers, PMI removable at 20% equity.
  • FHA Loan — Government-insured; 3.5% down with a 580 credit score and flexible debt-to-income rules.
  • VA Loan — For eligible veterans, service members and surviving spouses: 0% down and no monthly mortgage insurance.
  • USDA Loan — 0% down for moderate-income buyers in eligible rural and suburban areas.
  • Jumbo Loan — For loan amounts above the conforming limit; usually 10–20% down and 700+ credit.
  • First-Time Home Buyer Loans — Low-down-payment loans plus state assistance programs designed for first-time buyers.
  • Self-Employed Mortgage — Options for business owners and 1099 earners, including tax-return and bank-statement loans.
  • DSCR Purchase Loan — Investment-property loans qualified on the rental income of the property, not personal income.
  • New Construction Home Loans — Financing for a newly built home from a builder, or for building your own with a construction-to-permanent loan.

Home loan options in Baltimore

How much will I pay in property taxes in Baltimore?

Homeowners in Maryland pay a median of $3,989 a year in property taxes — an effective rate of about 1.00% of the median home value, above the national average (Census ACS). Actual rates vary by county and municipality. Ask your agent for the specific property's tax history.

Nearby cities (Baltimore city first)

ColumbiaGermantownWaldorfSilver SpringFrederickEllicott CityGlen BurnieGaithersburgBethesdaRockville

Baltimore home buying FAQs

We've verified 7 applicable city, county and statewide programs for Baltimore buyers, ordered by scope on this page with official links and verified dates. Confirm each program's borrower and property requirements.

Baltimore is in Baltimore city, where the 2026 FHA limit is $747,500 and the conforming limit is $832,750 for a single-family home.

For a home at the $219,300 median with 3.5% FHA down, the estimated payment is $1,870/mo at 7.18%, which needs about $81,000 a year under the 28% rule ($63,000 at 36%).

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.