In short
The median value of owner-occupied homes in Baltimore is $247,400 (Census ACS 2024; owner estimates, not sale prices). The FHFA House Price Index shows Maryland prices up 1.0% and Baltimore–Columbia–Towson prices up 2.1% between the second quarters of 2025 and 2026. On that price, Maryland's state transfer tax comes to $1,237, shared by buyer and seller. Plus, in Baltimore City, a local transfer tax of 1.5% and a local recordation tax of $5.00 per $500 (fiscal year 2027, Maryland Department of Legislative Services); Baltimore City adds a yield tax above $1 million. Selling a main home you owned and lived in for 2 of the last 5 years, the first $250,000 of gain ($500,000 for a married couple filing jointly) is excluded from federal income tax (IRS Publication 523).
Calculate for Baltimore
In short
The median value of owner-occupied homes in the city of Baltimore is $247,400, according to the Census Bureau’s 2024 American Community Survey. For Fiscal 2027, the City’s real property tax rate is $2.248 per $100 of assessed value, and its transfer tax is 1.5% of the consideration, per the City’s tax-rate table. Maryland adds a 0.5% state transfer tax under Tax-Property § 13-203.
How much homes cost in Baltimore
The Census Bureau’s American Community Survey (ACS) asks owners how much they think their home would sell for. The median of those answers is a useful benchmark, but it is not a sale price: it covers every owner-occupied home, including homes bought long ago. Our page on Maryland home prices explains the method in detail.
| Area | Median value, 2024 (ACS) | Margin of error (90%) |
|---|---|---|
| City of Baltimore | $247,400 | ±$7,688 |
| Baltimore County | $359,000 | ±$5,882 |
| Baltimore–Columbia–Towson metro area | $403,000 | ±$5,339 |
| Maryland | $436,300 | ±$3,089 |
| United States | $360,600 | ±$618 |
Source: U.S. Census Bureau, ACS 1-Year Estimates 2024, table B25077. The 2025 estimates are scheduled for October 29, 2026.
Are Baltimore prices rising?
The Federal Housing Finance Agency (FHFA) tracks repeat sales of the same single-family homes. Its purchase-only, seasonally adjusted index for the Baltimore–Columbia–Towson metro area, published August 25, 2026, shows:
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| Baltimore–Columbia–Towson metro area | +2.1% | +26.4% |
| Maryland | +1.0% | +25.6% |
| United States | +2.1% | +33.4% |
Source: FHFA House Price Index, quarterly purchase-only files. Changes calculated by Payotte from the published index values.
The metro index covers the city and its suburbs, so it describes the region, not the city alone.
Closing costs at the median price
On top of the price, buyers and sellers pay closing costs: lender fees, the appraisal, the survey, recording and transfer taxes, and title insurance. Several of these depend on the loan and on the providers you choose, so there is no single official figure. We do not estimate them on this page. For the rules and a worked example, see our guide to closing costs in Maryland.
Property tax in Baltimore
The City’s Fiscal 2027 tax-rate table lists a real property rate of $2.248 per $100 of assessed value, and the Department of Finance’s property tax page, updated in August 2026, says the rate is the same as the prior fiscal year’s. The City’s page points owners to the State Department of Assessments and Taxation for assessment appeals.
A worked example
Take a home assessed at the city median, $247,400, with no credits:
- $247,400 ÷ 100 × 2.248 = $5,562 a year, or about $463 a month, for the City’s rate alone.
The Maryland state rate and your own credits are not included here; see our Maryland property tax guide. A few Special Benefits Districts add a surcharge per $100 (for example $0.1250 in the Charles Village district), and your tax bill shows which apply. The City says owner-occupants can pay in two installments, and a 0.5% discount applies if the bill is paid by July 31. The City also says it offers no property tax incentive specifically for first-time buyers; see the first-time buyer programs for grants and loans instead. To see how property tax is paid through your mortgage, read our guide to escrow accounts.
Transfer and recordation taxes in Baltimore
Baltimore City Code Article 28, § 17-2 levies a transfer tax of 1½% on transfers of freehold estates in the city, payable before the deed is recorded. Maryland’s own transfer tax is 0.5% (Tax-Property § 13-203), reduced to 0.25%, paid entirely by the seller, for a first-time Maryland home buyer who will live in the home. The City’s table also lists a recordation tax of $5.00 per $500 of consideration paid.
The City Code exempts the first $22,000 of the price for an owner-occupied home if the total price is under $250,000 and the buyer signs an oath to live there at least 7 of the next 12 months. On a $240,000 home, that makes the City transfer tax $3,270 instead of $3,600 (an example; the contract decides who pays). Details are in our page on transfer tax in Maryland.
Buying in a targeted area
The Maryland Mortgage Program treats all of Baltimore City as a targeted area, where repeat buyers can also use its loans. See our first-time buyer programs for the income limits and the City’s incentives.
If the home is a rental
Baltimore requires every non-owner-occupied property to be registered each year, within 10 days of a transfer, and rental properties need a license. Read our guide on tenant rules for buyers in Maryland.
Maryland guides for Baltimore buyers
Frequently asked questions
What is the median home price in Baltimore?
The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in the city of Baltimore at $247,400 (±$7,688). This is what owners think their home is worth, not the median sale price of recent sales.
Are home prices in Baltimore going up?
According to the FHFA purchase-only index, prices in the Baltimore–Columbia–Towson metro area rose 2.1% between the second quarter of 2025 and the second quarter of 2026, and 26.4% over five years.
What is the property tax rate in Baltimore?
The City’s Fiscal 2027 rate is $2.248 per $100 of assessed value. On a $247,400 assessment that is about $5,562 a year, before the state rate and credits.
What is the transfer tax in Baltimore?
The City charges 1.5% of the consideration under City Code § 17-2, and Maryland charges 0.5%. A partial exemption applies to owner-occupied homes under $250,000.
Is all of Baltimore a targeted area for state loans?
Yes. The Maryland Mortgage Program lists Baltimore City among the counties that are fully targeted areas.
More Maryland guides
- Closing costs in Maryland: what buyers and sellers pay
- Maryland transfer tax: 0.5% state rate and Baltimore's 1.5%
- Maryland property tax: how it works and the homestead credit
- Seller disclosure in Maryland: disclosure or disclaimer form
- Do you need a real estate attorney to close in Maryland?
- How foreclosure works in Maryland: notice, mediation, timeline
- Home prices in Maryland and Baltimore: median value and trend
- First-time buyer programs in Maryland and Baltimore
- How to verify a real estate license in Maryland
- Buying a rental property in Maryland: tenant rules to know
Sources
- Table B25077, Median Value (Dollars), ACS 1-Year Estimates 2024 (U.S. Census Bureau) (consulted October 13, 2026)
- 2025 ACS Data Release Schedule (U.S. Census Bureau) (consulted October 13, 2026)
- U.S. House Prices Rise 2.1 Percent Year over Year, Up 0.3 Percent Quarter over Quarter (FHFA, August 25, 2026) (consulted October 13, 2026)
- FHFA House Price Index datasets, quarterly purchase-only indexes (state, metro) (consulted October 13, 2026)
- City Tax Rates, Fiscal 2027 (City of Baltimore, Bureau of the Budget and Management Research) (consulted October 13, 2026)
- Real Property Taxes (City of Baltimore, Department of Finance) (consulted October 13, 2026)
- Transfer Tax (City of Baltimore, Department of Finance) (consulted October 13, 2026)
- Baltimore City Code, Article 28, § 17-2, Tax imposed (City of Baltimore Law Library) (consulted October 13, 2026)
- Recordation Taxes (City of Baltimore, Department of Finance) (consulted October 13, 2026)
- Tax Law, Property, § 13-203, transfer tax rate (Maryland General Assembly) (consulted October 13, 2026)
- Homeownership Incentives (Baltimore City Department of Housing and Community Development) (consulted October 13, 2026)
- Loan Eligibility, targeted areas (Maryland Mortgage Program, Maryland DHCD) (consulted October 13, 2026)
- Property Registration and Rental Licensing (Baltimore City DHCD) (consulted October 13, 2026)