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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.
The Cheapest Neighborhoods In Baltimore For 2022
What's the cheapest neighborhood to live in Baltimore for 2022? 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
- Cheapest Places To Live In Maryland
- Cheapest Cities To Live In America
- Cheapest States To Live In America
The 10 Cheapest Neighborhoods To Live In Baltimore For 2022
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Population: 530
Cost Of Living Index: 80 (2nd cheapest)
Home Value To Income Ratio: 0.9 (2nd cheapest)
Rent To Income Ratio: 0.011 (3rd cheapest)
More on Fairfield Area: Homes For Sale | Data
/10
Population: 475
Cost Of Living Index: 80 (2nd cheapest)
Home Value To Income Ratio: 1.1 (4th cheapest)
Rent To Income Ratio: 0.009 (2nd cheapest)
More on Pulaski: Homes For Sale | Data
/10
Population: 5,628
Cost Of Living Index: 85 (6th cheapest)
Home Value To Income Ratio: 1.6 (5th cheapest)
Rent To Income Ratio: 0.016 (17th cheapest)
More on Berea Area: Homes For Sale | Data
/10
Population: 6,288
Cost Of Living Index: 91 (15th cheapest)
Home Value To Income Ratio: 2.1 (11th cheapest)
Rent To Income Ratio: 0.014 (11th cheapest)
More on Lakeland: Homes For Sale | Data
/10
Population: 10,629
Cost Of Living Index: 88 (8th cheapest)
Home Value To Income Ratio: 2.1 (13th cheapest)
Rent To Income Ratio: 0.016 (18th cheapest)
More on Midway-Coldstream: Homes For Sale | Data
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Population: 3,168
Cost Of Living Index: 80 (2nd cheapest)
Home Value To Income Ratio: 0.5 (cheapest)
Rent To Income Ratio: 0.025 (45th cheapest)
More on Monument Street Area: Homes For Sale | Data
/10
Population: 13,570
Cost Of Living Index: 89 (10th cheapest)
Home Value To Income Ratio: 2.0 (10th cheapest)
Rent To Income Ratio: 0.018 (30th cheapest)
More on Beechfielf-Irvington Area: Homes For Sale | Data
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Population: 6,002
Cost Of Living Index: 92 (19th cheapest)
Home Value To Income Ratio: 2.7 (28th cheapest)
Rent To Income Ratio: 0.012 (6th cheapest)
More on Morrell Park: Homes For Sale | Data
/10
Population: 13,252
Cost Of Living Index: 91 (15th cheapest)
Home Value To Income Ratio: 1.9 (6th cheapest)
Rent To Income Ratio: 0.02 (32nd cheapest)
More on Brooklyn-Curtis Bay: Homes For Sale | Data
/10
Population: 7,411
Cost Of Living Index: 80 (2nd cheapest)
Home Value To Income Ratio: 3.4 (44th cheapest)
Rent To Income Ratio: 0.013 (8th cheapest)
More on Old Town Area: Homes For Sale | Data
Methodology: How We Determined The Cheapest Baltimore Hoods In 2022
In order to rank the cheapest places to live in Baltimore, we had to determine what criteria defines "cheap".
Using census and extrapolated BLS data, we arrived at the following set of criteria:
- 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.
Summary: Lowest Cost Places To Live 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:
- Most Dangerous Cities In Maryland
- Richest Cities In Maryland
- Safest Places In Maryland
- Worst Places To Live In Maryland