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5 Cheapest Places to Live in Maryland
2021-08-22
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The Old Line State of Maryland offers several factors to consider when choosing a new home. The East Coast state of Maryland is a great place to live. However, Maryland is close to popular tourist sites. The city is one of the best places to live because of its low cost of living. So, it is a top destination for young professionals, families, and retirees looking to live the good life on a budget. Below you'll find the 5 cheapest places to live in Maryland; These cities aren't necessarily just the most affordable places in the state. Instead, HomeSnacks looked at the average cost of living and critical components such as transportation, housing, dining options, and utilities.
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Top 5:Frostburg
In Frostburg, the fifth cheapest place to live in Maryland, you'll find Frostburg State University. So affordable living and college students practically go together.
Students and long-term residents alike will enjoy the area's $745 median rent. Also, it's one of the highest in Maryland. Having this rank somewhat lessens the appeal of becoming a homeowner. But those who do establish roots here also benefit financially. In addition, it has the best median home value in the state, taking the No. 2.0 spot.
And Frostburg has a decent number of ways for you to spend all that money burning a hole in your pocket. A few dollars can be spent on gas and driving to the nearby scenic spot of Dans Rock Overlook or getting a round of drinks at Toasted Goat Winery.
Top 4:Thurmont
Thurmont is a beautiful place. It is located in Frederick County, Maryland, just 10 miles south of Frederick, near the Pennsylvania border. The city is home to Camp David, which served as the nation's premier presidential retreat during the 20th and 21st centuries.
Thurmont is the fourth least expensive city in Maryland. Rents in Thurmont, which cost about $1,135 a month, are the tenth least costly in the state, with a median income of $78,245. Thurmont is quite affordable as well, with a median home price of $247,600. Thurmont has plenty of budget-friendly activities, including swimming at Cunningham Falls State Park and hiking at Catoctin Mountain.
Top 3:Hampstead
In Maryland, Hampstead is the third most affordable town based on affordability. It is about 30 miles north of Baltimore. Rent in Hampstead is among the lowest in the state. Here, renters enjoy the lowest rent-to-income ratio in the state. Hampstead has a median household income of $77,083 and a median home price of $245,700, making it just outside the top five for Maryland's best home price-to-income ratio.
You can rent or buy a place in Hampstead without breaking the bank when you have access to different parks every day.
Top 2:Cumberland
When you realize how inexpensive Cumberland is, you might decide to stay for life. "Come for a visit, stay for life" is Cumberland's motto. Since Cumberland's population has been declining in recent years, newcomers can get the cheapest homes in Maryland. Cycling along the Great Allegheny Passage will provide all the free entertainment you'll ever need.
Cumberland, the second most affordable city on this list, is not just about its low rent at $662/month. The town offers the state's best home price to income ratio, with a median home price of $94,100 and a median household income of $36,145.
Top 1:Brunswick
Among Maryland's cheap places to live, Brunswick is unbeatable. While Brunswick may not have the most affordable homes or rents in the state, its affordability relative to income is among the best. The median income in Brunswick is $81,250, which covers the median house price of $237,800 with plenty left over.
It's better to appreciate Brunswick's ritzy atmosphere when you're sampling chocolate and wine in the historic district. A short distance up the Potomac River, across from Virginia, is the city of Brunswick.
What are your thoughts on the rankings? Did any surprise you on the list? We would love to hear your thoughts!
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