Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Baltimore might be more expensive than living in rural Maryland, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Baltimore neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Baltimore are the cheapest.
What’s the cheapest neighborhood to live in Baltimore for 2020? According to the most recent census data, Fairfield Area looks to be the cheaptest Baltimore neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Baltimore. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Baltimore that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Baltimore.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more Maryland reading, check out:
- Best Places To Live In Maryland
- Best Counties To Live In Maryland
- Cheapest Cities To Live In America
- Cheapest States To Live In America
How We Determined The Cheapest Baltimore Hoods In 2020
In order to rank the cheapest places to live in Baltimore, we had to determine what criteria defines “cheap”.
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 54 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Baltimore.” We’re lookin’ at you, Fairfield Area.
Read on below to learn more about what it’s like to live in the cheapest places Baltimore. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Baltimore For 2020
The median income in Fairfield Area comes in at $29,271 and the median home value is $26,633 for 2020.
The median income in Pulaski comes in at $36,631 and the median home value is $41,800 for 2020.
The median income in Berea Area comes in at $40,870 and the median home value is $65,593 for 2020.
The median income in Lakeland comes in at $45,877 and the median home value is $94,911 for 2020.
The median income in Midway-Coldstream comes in at $43,227 and the median home value is $90,588 for 2020.
The median income in Monument Street Area comes in at $28,677 and the median home value is $14,650 for 2020.
The median income in Morrell Park comes in at $41,419 and the median home value is $112,870 for 2020.
The residential community of Curtis Bay is along three major north-south thoroughfares of Curtis Avenue, Pennington Avenue and residential Fairhaven Avenue and a partial street of Prudence Street. Running west to east are fifteen smaller residential streets named alphabetically for various types of trees. “The Bay”, as it is often called colloquially, also offers a variety of housing, townhouses, rowhouses, individual homes, and corner stores, taverns/bars.
The median income in Brooklyn-Curtis Bay comes in at $40,238 and the median home value is $75,582 for 2020.
The median income in Beechfielf-Irvington Area comes in at $41,675 and the median home value is $83,969 for 2020.
The median income in Old Town Area comes in at $15,174 and the median home value is $50,967 for 2020.
Summing Up The Cheapest Places In Baltimore
If you’re measuring the neighborhoods in Baltimore where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Baltimore aren’t all cheap. Wakefield takes the title of the most expensive neighborhood to live in Baltimore.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Maryland reading, check out:
- Cheapest Places To Live In Maryland
- Best Places To Raise A Family In Maryland
- Best Places To Retire In Maryland
- Richest Cities In Maryland
- Safest Places In Maryland
- Worst Places To Live In Maryland