What salary is needed to buy a median priced home in Baltimore?
According to HSH.com, which is a website about mortgages, it would take a salary of $53,078.51 to buy a home at the median home price for Baltimore.
Now, this doesn’t mean you have to make that much in order to buy a house in Baltimore.
The median home price in Baltimore currently is $224,500.
Dictionary.com defines median (as used in this situation,) as:
“…the middle value in a frequency distribution, below and above which lie values with equal total frequencies.”
What this means is that one could very likely find a home for less than $224,500. In fact, there is an equal chance of finding one for less as there would be finding one more expensive.
Now, of course, this is for the Baltimore area. Each neighborhood is different, and may have very different median sales prices.
For more information about the Baltimore neighborhood in which you may be interested, please contact me. I would love to help!
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