Foreclosure Homes for Sale in Baltimore, MD: Everything You Need to Know
Baltimore’s architecture is described as large and elegant. You can see various styles of homes from Georgian, Federal, Italianate to post-modern homes. An iconic housing staple is the Baltimore Row House. Built during the 19th century, there was a boom in row houses' construction with over 16 different styles. The median home value is $316,396, a 1.6% increase since 2019. Roughly 45.5% of occupants own their homes, leaving 54.5% to rent out their residence. The average monthly rent for an 822 square foot apartment runs about $1,283.
Baltimore Real Estate: The Cost of Living
Knowing the cost of living on a month to month basis can help you create an accurate budget so that you can live comfortably within your means. Overall, the cost of living in Baltimore is 17% higher than the national average. Below, you’ll find some of the average expenses you can expect if you choose to reside in the city.
Median Home Price: $509,743
Median monthly rent: $1,597
Electricity Bill: $179.56 a month
Phone Bill: $191.41 a month
Gas: $2.69 per gallon
Food & Groceries: 7% higher than the national average
Healthcare: 8% lower than the national average
Combined Sales Tax: 6%
The Local Sports Scene
Baltimore has two major professional sports teams: the Orioles (MLB) and the Ravens (NFL). The Baltimore Orioles have won three World Series (1966, 1970, 1983). The Ravens are two-time Superbowl Champions (2000 & 2012). Other professional sports teams include the Baltimore Blast (Soccer) and the Baltimore Ride (Women’s Lacrosse). Horse Racing is also a very popular sport in this region. The Preakness is the second competition in the Triple Crown series, which qualifies horses and riders to compete in the Kentucky Derby.
Division I and Division III college teams compete in various sports in Baltimore. The Coppin State Eagles are an NCAA Division I basketball team. The Loyola Greyhounds represent the Loyola University of Maryland in many sports, and the Morgan State Bears have 12 teams that represent Morgan State University. To see any of these teams play live, visit one of these stadiums: M7T Bank Stadium (NFL), Oriole Park at Camden Yards (MLB), Royal Farms Arena, Hughes Stadium, Homewood Ford, or the Reitz Arena.
The Local Population
Baltimore is 340.2 square miles and has a population of 1.34 million people. This averages out to a population density of 3,517.6 persons per square mile and makes for an incredibly crowded city. The racial makeup of the residents includes 62.5% Whites, 24.3% Blacks, 0.3% American Indian, 3.4% Asians, 2.5% other races, and 41.7% of Latino descent. The median age of residents is 35.5 years old, with 25.4% under the age of 18 and 10.1% over 65. 42,944 veterans live in the city. There are 505,816 households with 2.57 persons per household. The average family size is 3.6 persons. The median household income is $50,100, and 20.5% of people live under the poverty line.