The median home price in Maryland is $386,900 which has increased by 3.3% since the last year. The Maryland housing market has witnessed a 0.7% year-over-year increase in the number of homes listed. With only a 2-month supply left, the tight inventory is expected to drive an increase in the median sale price.
As per our research, home prices are relatively higher in coastal areas near Ocean City, MD. On the other hand, as you move towards the inland areas of the Old Line State, you can find cheaper housing options.
4 Reasons to live in Maryland 🏖️
- Cheaper Houses: The median home sale price in Maryland is ~$387K. But you can get houses between $140K and $271K in cities like Cumberland, Baltimore, and Aberdeen.
- Tax Benefits: The EITC is a benefit for working individuals with low to moderate income. Eligible individuals can claim this credit to reduce their state income tax burden.
- Affordable Healthcare: Healthcare in cities that are listed below is up to 18% lower than the national average.
- Cheaper Rentals: The rent prices of these cities are lower than national average. You can save up to $150 per month in rent.
Cheapest Places to Live in Maryland in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Cumberland | $45,915 | $140,079 | 18,769 | 3.0% | 21.8% |
| Baltimore | $58,349 | $177,573 | 569,931 | 2.2% | 19.6% |
| Aberdeen | $74,555 | $215,625 | 16,859 | 5.0% | 13.1% |
| Salisbury | $53,309 | $241,318 | 33,209 | 3.4% | 22.3% |
| Cambridge | $44,114 | $242,952 | 13,129 | 3.2% | 22.3% |
| Hagerstown | $48,481 | $262,045 | 43,701 | 2.9% | 22.9% |
| Greenbelt | $82,019 | $271,473 | 24,360 | 7.8% | 14.5% |
7 Cheapest Places to Live in MD
The annual population growth of 6.5% since 2010 is reflective of people’s intention to move to Maryland. If you’re considering shifting to the Old Line State, here are some cities that offer affordable living options:
1. Cumberland
| 🟢 Cost of Living Compared to National Average | 26.8%⬇️ |
| 🏡 Median Home Price | $140,079 |
| 💲 Median Rent | $950 |
| 🌅 Known For | Allegany Museum |
Cumberland is an affordable place to live in Maryland. Its median house rent ranges from $352 – $3,200. It also offers very affordable healthcare which is 15.8% lower than the national average.
Cumberland stands out as a budget-friendly city. The city is surrounded by picturesque landscapes. This includes the nearby Appalachian Mountains and the Potomac River, providing residents and visitors with beautiful natural scenery.
» Homes for Sale in Cumberland, MD: Find your dream home in this city.
2. Baltimore
| 🟢 Cost of Living Compared to National Average | 7.4%⬇️ |
| 🏡 Median Home Price | $177,573 |
| 💲 Median Rent | $1,500 |
| 🏞️ Known For | Bay Blue Crabs |
Baltimore is one of the most budget-friendly rental destinations in Maryland with an average home rent ranging from $100 – $11,150. It also offers affordable housing which is 39.8% lower than the national average.
Baltimore is a great place for people looking to buy a home. The city is renowned for its rich industrial and manufacturing heritage. It hosts the oldest public market system in the United States. Additionally, the city is a hub for esteemed universities and hospitals in the nation.
» Homes for Sale in Baltimore, MD: Browse thousands of property listings in Baltimore.
3. Aberdeen
| 🟢 Cost of Living Compared to National Average | 7.6%⬇️ |
| 🏡 Median Home Price | $215,625 |
| 💲 Median Rent | $1,850 |
| 🏖️ Known For | Ripken Stadium |
With rental costs below the national average, Aberdeen stands as one of the most affordable cities to live in Maryland. The house rent price is between $1,150 – $3,000.
Aberdeen is renowned for hosting the U.S. Army’s Aberdeen Proving Ground (APG). The city is home to world-class schools like Aberdeen High School and Aberdeen Middle School.
» Homes for Sale in Aberdeen, MD: View all the properties for sale in this city.
4. Salisbury
| 🟢 Cost of Living Compared to National Average | 16.3%⬇️ |
| 🏡 Median Home Price | $241,318 |
| 💲 Median Rent | $1,695 |
| 🏖️ Known For | Salisbury Zoo |
Salisbury offers budget-friendly living with a median rent that is $1,150 lower than the national median. Moreover, the transportation costs are 20.6% below the national average in the city.
Salisbury is known for Salisbury University, ranked among the top universities in the state. It boasts the scenic Chesapeake Bay and is part of the regionally accredited four-year university system in Maryland.
» Homes for Sale in Salisbury, MD: Browse through thousands of affordable properties.
5. Cambridge
| 🟢 Cost of Living Compared to National Average | 18.6%⬇️ |
| 🏡 Median Home Price | $242,952 |
| 💲 Median Rent | $1,725 |
| 🎨 Known For | Blackwater National Wildlife Refuge |
Often referred to as the ‘Groove City,’ Cambridge’s cost of living is 18.6% lower than the national average. The average transportation expenses are 24.8% below the national average.
Cambridge’s affordable food, health, housing, and transportation facilities make the city one of the cheapest places to live in the US.
» Homes for Sale in Cambridge, MD: Browse through thousands of properties in this city.
6. Hagerstown
| 🟢 Cost of Living Compared to National Average | 7.4%⬇️ |
| 🏡 Median Home Price | $262,045 |
| 💲 Median Rent | $1,200 |
| 🏫 Known For | Antietam National Battlefield |
The house rent in Hagerstown is between $150 – $2,550. With an average household income of $48,481, you can comfortably live in this city.
Residents of Hagerstown enjoy a diverse range of outdoor activities and landscapes. The city is known for its proximity to both the Atlantic Ocean and the Appalachian Mountains.
» Homes for Sale in Hagerstown, MD: Find a home in one of the cheapest places to live in Maryland.
7. Greenbelt
| 🟢 Cost of Living Compared to State Average | 8.1%⬇️ |
| 🏡 Median Home Price | $271,473 |
| 💲 Median Rent | $2,100 |
| 🖼️ Known For | NASA Goddard Space Flight Center |
Greenbelt is one of the best places to live in Maryland. The monthly expenditure on food for an individual amounts to $582, making it one of the most budget-friendly options across the country.
Greenbelt has top-rated schools like the Eleanor Roosevelt High School. The city is an ideal place for families to settle down and thrive.
» Homes for Sale in Greenbelt, MD: Get yourself a home in this capital city.
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Bottom Line
The cost of living in Maryland is 16% higher than the national average. It is also home to some of the most expensive cities in America. However, if you want to shift to Maryland, you can find affordable housing in cities like Cumberland, Baltimore, and Aberdeen.
Cities like Hagerstown and Greenbelt have a slightly expensive cost of living but provide better job opportunities. You must research the city’s home prices and living costs before relocating.
Find Homes for Sale in MD Under Your Specific Budget
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Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in Maryland, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, Zillow and Best Places.
FAQs
What is the cheapest place to live in Maryland?
The cheapest place to live in Maryland is Cumberland.
» 7 Cheapest Places to Live in Maryland: Find out the other cheapest places to live in Maryland!
What makes Maryland the cheapest place to live in?
No, it is not. The median home value is $386,900. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
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