"Starter home" neighborhoods
Where can you afford to purchase a home if your limit is $250,000 or less? Many more places than a few years ago.
The average sale price was between $50,000 and $250,000 in 40 ZIP codes in the Baltimore metro area last year, spread around every jurisdiction in the region except pricey Howard County. (A few more were under $50,000, but that seems like the point below which sales are much more likely to be homes in bad repair picked up by real estate investors, rather than by first-time buyers.)
They account for almost one-third of ZIP codes in the metro area that had at least a handful of home sales last year. Many more had some sales in that price range -- just not enough to put the average there.
Neighborhoods are a more useful categorization in the city than ZIPs, and just over 120 in Baltimore had average prices between $50,000 and $250,000 last year. That's close to two-thirds of the neighborhoods with at least a handful of sales.
Here's the list of ZIPs and city neighborhoods:
ZIP codes:
| Community | ZIP code | '10 sales | '10 avg sale price | Sales change | Price change |
|---|---|---|---|---|---|
| JOPPA | 21085 | 152 | $243,094 | 54% | -3% |
| LOTHIAN | 20711 | 36 | $242,582 | 6% | 4% |
| ABINGDON | 21009 | 373 | $240,934 | -11% | 3% |
| KEYMAR | 21757 | 5 | $237,760 | -38% | 43% |
| TANEYTOWN | 21787 | 76 | $233,846 | -15% | 9% |
| BALTIMORE | 21231 | 226 | $224,122 | 4% | -10% |
| SPARROWS POINT | 21219 | 55 | $223,271 | -5% | -17% |
| NOTTINGHAM | 21236 | 301 | $221,790 | -24% | -6% |
| UNION BRIDGE | 21791 | 15 | $220,365 | 0% | 17% |
| GLEN BURNIE | 21060 | 264 | $219,584 | -3% | -6% |
| BALTIMORE | 21230 | 610 | $217,094 | -3% | -5% |
| BALTIMORE | 21202 | 105 | $216,644 | 27% | -18% |
| GLEN BURNIE | 21061 | 312 | $215,627 | -14% | -8% |
| WHITEFORD | 21160 | 5 | $209,080 | -69% | -19% |
| RANDALLSTOWN | 21133 | 205 | $207,003 | -2% | -1% |
| ROSEDALE | 21237 | 197 | $201,944 | -14% | -8% |
| BALTIMORE | 21201 | 33 | $198,073 | -28% | 1% |
| WINDSOR MILL | 21244 | 197 | $197,867 | -1% | -3% |
| PARKVILLE | 21234 | 527 | $195,990 | -3% | -5% |
| MIDDLE RIVER | 21220 | 269 | $194,496 | -8% | 1% |
| CURTIS BAY | 21226 | 63 | $191,006 | -5% | -13% |
| HALETHORPE | 21227 | 241 | $183,878 | -14% | -9% |
| BELCAMP | 21017 | 102 | $183,328 | 13% | -6% |
| BALTIMORE | 21224 | 773 | $181,258 | -6% | 1% |
| ABERDEEN | 21001 | 182 | $177,052 | 4% | -13% |
| ESSEX | 21221 | 262 | $176,784 | -3% | -8% |
| BALTIMORE | 21211 | 182 | $163,104 | -15% | -10% |
| GWYNN OAK | 21207 | 271 | $148,839 | -2% | -9% |
| BALTIMORE | 21239 | 169 | $147,498 | -1% | -11% |
| BALTIMORE | 21218 | 346 | $146,952 | 3% | -8% |
| BALTIMORE | 21214 | 188 | $141,756 | 2% | -11% |
| EDGEWOOD | 21040 | 193 | $140,154 | -17% | -8% |
| BROOKLYN | 21225 | 189 | $123,210 | -23% | -19% |
| DUNDALK | 21222 | 394 | $121,881 | -6% | -15% |
| BALTIMORE | 21206 | 401 | $114,506 | 6% | -16% |
| BALTIMORE | 21229 | 266 | $103,585 | -14% | -14% |
| BALTIMORE | 21215 | 318 | $85,215 | 6% | -6% |
| BALTIMORE | 21217 | 221 | $84,636 | 2% | -18% |
| BALTIMORE | 21213 | 242 | $55,270 | 2% | -26% |
| BALTIMORE | 21216 | 213 | $53,897 | 8% | -13% |
Baltimore City neighborhoods:
| Neighborhood | '10 sales | '10 avg sale price | Sales change | Price change |
|---|---|---|---|---|
| WOODBERRY | 11 | $230,282 | -35% | 7% |
| DOWNTOWN | 16 | $227,935 | 45% | 2% |
| WYMAN PARK | 13 | $227,154 | -19% | 5% |
| BREWERS HILL | 35 | $219,362 | -5% | 5% |
| MAYFIELD | 6 | $219,349 | -45% | -4% |
| SHARP-LEADENHALL | 9 | $217,902 | 50% | -18% |
| CROSS KEYS | 24 | $214,038 | 41% | 2% |
| SBIC | 93 | $213,868 | -18% | 10% |
| CHARLES VILLAGE | 21 | $210,329 | -13% | -14% |
| HUNTING RIDGE | 13 | $202,869 | -19% | -14% |
| ORIGINAL NORTHWOOD | 9 | $201,986 | -31% | -4% |
| RIDGELY'S DELIGHT | 10 | $200,150 | 0% | -8% |
| UPPER FELLS POINT | 101 | $192,374 | 15% | -4% |
| LAKE WALKER | 26 | $191,488 | 63% | -15% |
| CHINQUAPIN PARK-BELVEDERE | 12 | $189,179 | 100% | 22% |
| MOUNT VERNON | 12 | $188,300 | -37% | -22% |
| ABELL | 11 | $183,625 | -8% | 11% |
| MID-TOWN BELVEDERE | 25 | $177,476 | 32% | -18% |
| WASHINGTON HILL | 8 | $175,788 | -27% | -29% |
| JONESTOWN | 10 | $175,750 | 67% | -31% |
| OAKENSHAWE | 13 | $172,925 | 8% | -25% |
| GREEKTOWN | 27 | $172,444 | 4% | 0% |
| BEVERLY HILLS | 11 | $169,991 | 22% | 0% |
| HAMPDEN | 86 | $169,573 | -16% | -10% |
| CROSS COUNTRY | 27 | $166,511 | -4% | 0% |
| HOES HEIGHTS | 10 | $166,000 | 25% | -22% |
| NORTH HARFORD ROAD | 33 | $162,173 | 3% | -1% |
| OVERLEA | 5 | $155,777 | -29% | 4% |
| BARRE CIRCLE | 9 | $155,659 | 80% | -22% |
| ARCADIA | 9 | $155,267 | -44% | -13% |
| MEDFIELD | 28 | $153,650 | -18% | -7% |
| WOODRING | 29 | $151,881 | 26% | -11% |
| WESTGATE | 12 | $147,225 | -40% | -14% |
| HARFORD-ECHODALE/PERRING PARKWAY | 38 | $146,571 | -10% | 3% |
| LAURAVILLE | 35 | $145,041 | 21% | -13% |
| BARCLAY | 18 | $143,655 | -18% | 4% |
| MADISON PARK | 7 | $142,357 | -13% | 45% |
| BALTIMORE-LINWOOD | 140 | $141,515 | 8% | 0% |
| ROSEMONT EAST | 9 | $140,450 | -55% | 1% |
| VILLAGES OF HOMELAND | 8 | $139,175 | 0% | -33% |
| PATTERSON PLACE | 35 | $137,896 | 3% | -6% |
| CHRISTOPHER | 9 | $137,278 | -31% | -7% |
| VIOLETVILLE | 24 | $134,921 | -33% | 3% |
| IDLEWOOD | 25 | $133,120 | -29% | -1% |
| HIGHLANDTOWN | 53 | $133,111 | 2% | -15% |
| WESTFIELD | 39 | $131,062 | -19% | -23% |
| GROVE PARK | 6 | $130,033 | 0% | 47% |
| CEDMONT | 37 | $129,963 | 48% | -17% |
| PERRING LOCH | 20 | $128,623 | 18% | -5% |
| EDNOR GARDENS-LAKESIDE | 34 | $125,935 | -8% | -20% |
| RAMBLEWOOD | 23 | $125,828 | 64% | -8% |
| KERNEWOOD | 5 | $124,647 | 0% | -30% |
| GLENHAM-BELFORD | 67 | $123,310 | 34% | -12% |
| MORAVIA-WALTHER | 6 | $121,983 | -14% | -22% |
| WEST HILLS | 11 | $121,766 | -15% | 5% |
| GLEN | 41 | $121,317 | 3% | -6% |
| GLEN OAKS | 13 | $118,554 | 8% | -6% |
| ASHBURTON | 14 | $117,161 | 40% | -15% |
| WINDSOR HILLS | 18 | $116,428 | 20% | 0% |
| NEW NORTHWOOD | 20 | $116,158 | 54% | -5% |
| HOWARD PARK | 45 | $116,047 | 50% | 0% |
| FALLSTAFF | 11 | $112,909 | -39% | -9% |
| GARWYN OAKS | 13 | $112,609 | 63% | 29% |
| LOCH RAVEN | 23 | $112,174 | -15% | -18% |
| BEECHFIELD | 16 | $111,580 | -6% | -8% |
| WALTHERSON | 60 | $111,487 | 15% | -19% |
| EASTWOOD | 5 | $108,050 | -17% | -2% |
| FOREST PARK | 7 | $106,414 | 40% | 76% |
| REMINGTON | 35 | $106,036 | -5% | -14% |
| FRANKFORD | 111 | $105,121 | -3% | -14% |
| WEST ARLINGTON | 20 | $104,068 | 122% | -6% |
| REISTERSTOWN STATION | 8 | $103,350 | 33% | -14% |
| YALE HEIGHTS | 9 | $102,778 | -40% | -6% |
| RESERVOIR HILL | 62 | $99,822 | 41% | 9% |
| HILLEN | 24 | $99,269 | -8% | -14% |
| MID-GOVANS | 13 | $98,946 | -13% | -35% |
| CENTRAL FOREST PARK | 7 | $98,711 | -22% | -20% |
| HARWOOD | 23 | $97,204 | 10% | -19% |
| BROENING MANOR | 5 | $97,200 | -17% | -7% |
| GRACELAND PARK | 17 | $96,341 | 42% | -30% |
| GREENMOUNT WEST | 8 | $96,244 | -33% | -50% |
| JOSEPH LEE | 22 | $95,564 | -15% | -17% |
| UNION SQUARE | 27 | $94,350 | 69% | -37% |
| WEST FOREST PARK | 7 | $93,847 | -30% | -23% |
| CEDONIA | 23 | $93,755 | 53% | -9% |
| WOODMERE | 21 | $93,010 | 133% | 1% |
| KENILWORTH PARK | 7 | $91,386 | -22% | -18% |
| ROGNEL HEIGHTS | 13 | $87,927 | -7% | -20% |
| EAST ARLINGTON | 14 | $86,770 | 40% | -18% |
| IRVINGTON | 30 | $85,437 | 43% | -2% |
| PARKSIDE | 17 | $85,359 | 42% | -15% |
| WASHINGTON VILLAGE | 100 | $84,398 | 4% | -30% |
| MORRELL PARK | 35 | $82,922 | -24% | -25% |
| PANWAY/BRADDISH AVENUE | 10 | $79,340 | 0% | -15% |
| OLIVER | 32 | $78,799 | -14% | 14% |
| CYLBURN | 14 | $78,486 | 56% | -22% |
| WAVERLY | 24 | $76,757 | 20% | 19% |
| WOODBOURNE-MCCABE | 6 | $76,233 | -14% | 11% |
| CALLAWAY-GARRISON | 11 | $75,432 | 22% | -15% |
| MIDDLE EAST | 21 | $71,146 | 91% | 73% |
| HOLLINS MARKET | 20 | $70,473 | -13% | -39% |
| MEDFORD | 5 | $65,800 | 0% | -9% |
| BELAIR-EDISON | 136 | $63,819 | -1% | -24% |
| PARK CIRCLE | 24 | $63,721 | -8% | 0% |
| BROOKLYN | 61 | $63,114 | 9% | -20% |
| LAKELAND | 32 | $62,223 | 19% | -22% |
| EDMONDSON VILLAGE | 44 | $61,956 | -4% | -7% |
| WILSON HEIGHTS | 10 | $61,951 | 43% | -55% |
| CURTIS BAY | 19 | $61,172 | -24% | -18% |
| MCELDERRY PARK | 49 | $59,211 | 29% | -14% |
| WALBROOK | 19 | $58,489 | 19% | 48% |
| WESTPORT | 18 | $56,642 | 64% | -5% |
| HANLON-LONGWOOD | 14 | $56,129 | -7% | -48% |
| POPPLETON | 7 | $55,401 | -22% | -16% |
| DOLFIELD | 8 | $53,675 | 14% | -53% |
| GREENSPRING | 15 | $51,987 | 15% | 3% |
| BALTIMORE HIGHLANDS | 37 | $51,982 | 3% | -30% |
| PEN LUCY | 20 | $51,537 | 5% | -39% |
| BETTER WAVERLY | 17 | $51,056 | -11% | -17% |
| BRIDGEVIEW/GREENLAWN | 13 | $50,888 | 86% | -22% |
| ARLINGTON | 12 | $50,068 | -20% | -24% |
| DORCHESTER | 11 | $50,009 | 83% | -61% |
Posted by Jamie Smith Hopkins at 6:00 AM | Permalink
| Comments (12)
Categories: First-time home buyers, Housing stats
Categories: First-time home buyers, Housing stats
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Comments
It's interesting to see Joppa county on the list, considering how close it is to the BRAC-enhanced Aberdeen Proving Grounds. I would have thought those prices would have shot up beyond the 250K limit with the demand. I'm guessing others felt that way too, which is why all those homes were bought!
But who knows? With that type of increase in home sales (+54%) maybe a price jump is just lagging behind a bit.
Posted by: MrK | March 1, 2011 8:39 AM
The Curtis Bay 21226 should be noted that there are TWO Curtis Bays...one in Baltimore City & one in AA County. Only a very FEW house in the City's Curtis Bay are selling around $100k. Most are MUCH lower..it's a bad area. I should know...I live there
Posted by: WitchyOne | March 1, 2011 9:00 AM
There are tons of nice and affordable homes in most areas for first time buyers and people who don't want to rent.
Of course the question mark that no one can answer is that once these buyers are ready to move in 5-7 years (about the average first home residency period), where will their home value be? And if they get an FHA loan and put the minimum 3.5% down, they definitely run the risk of being underwater if the market continues to sink.
Posted by: John K. | March 1, 2011 9:21 AM
WitchyOne, there are a lot of ZIP codes that are partially in the city and partially in a nearby county. In the past I've offered up a data slice of ZIP codes that included only those sales in the suburban parts (as a counterpart to the city neighborhoods data), but inevitably people got confused.
Good point, John K. I'm sure that underwater fear is a major issue for anyone on the fence about buying.
MrK, it's interesting -- some communities in Harford seem to have benefited from BRAC buyers, some haven't and others are showing mixed results.
Posted by: Jamie Smith Hopkins | March 1, 2011 9:23 AM
My bet is that BRAC will NOT have a significant affect on prices in Harford County.
Posted by: Jaded | March 1, 2011 1:52 PM
Re: split ZIP codes...
It looks like this is already accounted for. We just bought in the city (Graceland Park), but in 21222 which reaches over into Dundalk.
As far as BRAC creating any additional demand, I doubt it. There is so much inventory right now and so much shadow inventory... not to mention unsold new construction. Any BRAC demand will be a drop in the bucket as far as really doing anything for prices. Once you take into account all the houses that are sitting empty + all the houses on the market, sellers are still selling into an overwhelming current of sellers outnumbering buyers by a large margin.
Posted by: chappy10 | March 1, 2011 7:21 PM
Does anyone knoe how many (if any) of these affordable zip codes have good public elementary schools within their boundaries? I am skeptical.
Posted by: RJ | March 2, 2011 9:56 AM
Interesting point about the schools, RJ. I think it's sad that 250K is considered a "starter" house. Maybe it all evens out with the "low" interest rates.
Posted by: JuanitaBeasley | March 3, 2011 2:48 PM
@JuanitaBeasley: I agree ... this market still has a long way to fall if 250K is still considered as a starter home.
I'm with DarwinRules…… prices will end up at around 2002 levels; maybe lower.
Posted by: Jaded | March 4, 2011 11:36 AM
Most of my first time buyers are shopping in the $150-250k range. I've had a few get closer to $300k and a couple looking in the $100k range, but I'd say $200k is a solid average.
RJ - often the school question is not even on the table with these buyers, since often they are either single, living with a girlfriend/boyfriend or newly married. My wife (fiance at the time) bought our first home in Joppatowne and didn't even think about schools at that time, since we had no designs on kids anytime soon. I wasn't an agent then, but now I always make sure they at least know about it, but often location trumps school districting for first time buyers.
Posted by: John K. | March 4, 2011 4:39 PM
No offense, but I have no idea how a single person can afford a $200k home if they have an average ($40-50k) salary.
Posted by: Jesse | March 10, 2011 12:45 PM
Jesse,
They usually don't. While I don't always learn their specific salary information, the ones shopping in that $200k and above range either have salaries closer to the $60-75k range or more, or have a solid 20-30% to put down, or both.
Also keep in mind that in many cases we're talking about buyers, plural, and not a single buyer. Often it's a husband/wife, boyfriend/girlfriend, fiances, etc. So then you have upwards of $100k in annual income given your "average" example.
A $200k loan has a total payment around $1200-1300 a month with taxes/insurance. Someone making $45k a year is bringing home somewhere around $2,500-2,600 a month. And that's with financing the entire price. If someone has the means to put 20-40k down, it becomes more affordable.
I don't claim someone SHOULD buy that much house at that salary, only that in the right circumstances, it's certainly possible.
Posted by: John K. | March 11, 2011 3:42 PM