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Top 8 Affordable Places to Buy a Home in Maryland

FIRST TIME HOME BUYERS MARYLAND ENJOY THESE TOP 8 PLACES TO BUY A HOME IN MARYLAND

Maryland, located on the eastern seaboard of the United States, is known for its bustling urban regions and significant economic output. While the state may have a reputation for being expensive, there are still plenty of affordable cities that offer budget-friendly housing options. In this article, we will explore the top 8 affordable places to buy a home in Maryland in 2023. These cities provide a great balance of affordability, safety, and opportunity for residents. So, let’s dive in and discover the hidden gems of Maryland!

1. Rockville – Montgomery County

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Rockville, located in Montgomery County, is our top pick for affordable places to buy a home in Maryland. This city has a rich history, with early Native American inhabitants dating back to the 1700s. Rockville experienced significant growth during the early twentieth century, thanks to the development of railroad routes connecting it to nearby Washington, D.C. Today, Rockville is home to approximately 69,512 residents.

Despite being a desirable location, Rockville offers relatively affordable housing options. The median home cost in Rockville is around $593,500, slightly higher than the state average. However, this cost is justified by the safety and opportunities the community provides. Crime rates in Rockville are 45% lower than the Maryland average, and the unemployment rate is just 4.7%. The city also boasts a high median income of nearly $100,000, making it an affluent community.

Rockville is known for its thriving technology and software companies, making it an attractive destination for recent graduates. Additionally, the city is home to one of the region’s premier shopping centers, providing ample retail opportunities. With its combination of affordable housing, safety, and economic opportunities, Rockville is an ideal place to buy a home in Maryland.

 

2. Columbia – Howard County

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Columbia, located in Howard County, is another affordable city in Maryland that offers a high quality of life. This community was planned as a collection of ten separate villages, with a focus on improving the lives of its residents through thoughtful city planning. The city has grown over the years and now houses approximately 108,730 residents.

While the cost of living in Columbia is slightly higher than the state average, it remains an affordable option for many. The median home price in a nice neighborhood is around $416,800. The crime rates in Columbia are 16% lower than the Maryland average, making it a safe place to live, especially for young families. The city is also known for its highly-rated schools, adding to its appeal.

Columbia’s economy is primarily driven by the federal government, which is a major employer in the area. The city is also home to several medium to large companies, providing employment opportunities for its residents. With its safe neighborhoods, excellent schools, and economic stability, Columbia is a great place to consider buying a home in Maryland.

 

3. Gaithersburg – Montgomery County

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Gaithersburg, located in Montgomery County, offers a perfect blend of affordability and convenience. This suburb of Washington, D.C. provides easy access to the excitement and nightlife of the nation’s capital while maintaining a quieter and more affordable lifestyle. Gaithersburg is also ranked at the top of Wallethub’s list of ethnically diverse cities, making it a vibrant and inclusive community.

With a population of approximately 67,741, Gaithersburg is a relatively safe place to live. The crime rates here are 5% lower than the Maryland average. While the cost of living in Gaithersburg is slightly higher than other areas of the state, it is still accessible to many people. The median home price in Gaithersburg is around $441,900, and rental prices are also slightly higher.

Economically, Gaithersburg is thriving. The city has a low unemployment rate, on par with the national average, and is home to large companies such as Lockheed Martin, IBM, and Sodexo. This provides ample job opportunities for recent graduates and professionals looking to advance their careers. With its diverse community, proximity to Washington, D.C., and economic stability, Gaithersburg is a great place to call home.

4. Brunswick – Frederick County

Brunswick, located in Frederick County, is a charming small town situated along the Potomac River. Known for its suburban feel and tight-knit community, Brunswick offers an affordable cost of living, making it an attractive option for homebuyers. With a population of approximately 6,101, Brunswick provides a close-knit community where neighbors know and support each other.

One of the biggest draws of Brunswick is its low cost of living, which is 18% lower than the state average. The median home price in Brunswick is around $199,500, making it significantly more affordable than many other cities in Maryland. Renting a home in Brunswick is also 25% cheaper compared to other areas of the state. The crime rates in Brunswick are on par with the state average, making it a safe place to live.

Brunswick’s economy is supported by opportunities in Frederick County, including employment options at Fort Detrick and Hood College. The city also has a thriving downtown area, offering shopping, dining, and entertainment options for residents. With its small-town charm, affordable housing, and economic opportunities, Brunswick is a hidden gem for homebuyers in Maryland.

5. Arbutus – Baltimore County

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Arbutus, located in Baltimore County, is a quiet suburb that offers affordable housing options close to the city of Baltimore. With a population of approximately 21,455, Arbutus provides a peaceful retreat while still having access to the amenities of a big city. The suburb is situated near the University of Maryland Baltimore County (UMBC), making it popular among students and young professionals.

Housing in Arbutus is relatively affordable, with a median home price of $225,900 and a median monthly rent of $1,105. The crime rates in Arbutus are safer than 33% of Maryland cities, providing a sense of security for residents. The suburb is also known for its outdoor recreation spots, including the scenic Patapsco Valley State Park, which offers opportunities for hiking and wildlife observation.

Arbutus offers a range of activities for residents to enjoy. They can catch the UMBC Retrievers playing at the Chesapeake Employers Insurance Arena, visit Arbour Manor Park for picnics and playtime, or explore the Arbutus Branch of the Baltimore County Public Library for books and community events. With its affordable housing options and proximity to Baltimore, Arbutus is a great place to consider buying a home in Maryland.

Top 8 Affordable Places to Buy a Home in Maryland, continued..

6. Bel Air – Harford County

Bel Air, located in Harford County, is not only one of the most affordable places to live in Maryland but also one of the best Baltimore suburbs. This town offers a high quality of life, with highly-rated schools and a tight-knit community. Bel Air is home to approximately 10,211 residents who enjoy a range of family-friendly community events and annual festivals.

The cost of living in Bel Air is affordable, with a median home price of $241,700 and a median monthly rent of $1,110. The crime rates in Bel Air are safer than 62% of Maryland cities, making it a safe place to raise a family. The town is also known for its public parks and green spaces, including Plumtree Park, Rockfield Park, Shamrock Park, and the MA and PA Heritage Trail.

Residents of Bel Air can enjoy various activities and attractions, such as concerts and performances at the Bel Air Armory, the Bel Air Farmers Market for local produce and goods, and the Black Light Mini Golf course at Jurassic Golf & Arcade. With its affordable housing options, community events, and access to outdoor recreation, Bel Air is an excellent choice for homebuyers in Maryland.

 

7. Elkton – Cecil County

Elkton, located in Cecil County, is a historic town with a rich heritage and affordable housing options. With a population of approximately 15,693, Elkton offers a small-town feel while still providing access to larger cities like Baltimore and Philadelphia. The town is known for its historic downtown area, which features charming shops and restaurants.

Housing in Elkton is relatively affordable, with a median home price of $198,800 and a median monthly rent of $1,045. The crime rates in Elkton are safer than 50% of Maryland cities, ensuring the safety of its residents. The town is also situated near the beautiful Elk Neck State Park, which offers opportunities for outdoor recreation, including camping, hiking, and swimming.

In Elkton, residents can explore the historic downtown area, visit the Upper Bay Museum to learn about the region’s history, or enjoy a meal at one of the local restaurants. The town also hosts various community events throughout the year, providing opportunities for residents to come together and celebrate. With its affordable housing options and rich history, Elkton is a hidden gem for homebuyers in Maryland.

8. Hagerstown – Washington County

Hagerstown, located in Washington County, is an affordable city in Maryland that offers a range of amenities and opportunities for residents. With a population of approximately 40,452, Hagerstown provides a small-town atmosphere while still offering easy access to larger cities like Baltimore and Washington, D.C. The city is known for its historic downtown area and beautiful natural surroundings.

Housing in Hagerstown is affordable, with a median home price of $154,900 and a median monthly rent of $930. The crime rates in Hagerstown are safer than 12% of Maryland cities, making it a relatively safe place to live. The city is also situated near various outdoor attractions, including the scenic Antietam National Battlefield and the C&O Canal National Historical Park.

Residents of Hagerstown can explore the city’s historic downtown area, visit the Washington County Museum of Fine Arts, or enjoy a hike along the Appalachian Trail. The city also hosts events and festivals throughout the year, providing entertainment for residents of all ages. With its affordable housing options and access to outdoor recreation, Hagerstown is an excellent choice for homebuyers in Maryland.

Other Great areas in Maryland

Cumberland – Allegany County

Housing in Cumberland is affordable, with a median home price of $69,200 and a median monthly rent of $643. The crime rates in Cumberland are safer than 17% of Maryland cities, ensuring the safety of its residents. The city is also surrounded by natural beauty, including the scenic Western Maryland Rail Trail and the picturesque Rocky Gap State Park.

Salisbury – Wicomico County

 

Housing in Salisbury is affordable, with a median home price of $154,000 and a median monthly rent of $1,055. The crime rates in Salisbury are safer than 4% of Maryland cities, making it a relatively safe place to live. The city is also situated near various outdoor attractions, including the scenic Salisbury City Park and the picturesque Assateague Island National Seashore.

In conclusion, Maryland offers a variety of affordable cities that provide excellent opportunities for homebuyers. Whether you’re looking for a suburban retreat close to major cities or a small-town atmosphere with a tight-knit community, there is something for everyone in Maryland. Consider these top 10 affordable places to buy a home in Maryland and start your journey towards finding your dream home. When your ready apply for a prequalification Here!

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