How Much Does It Cost to Live in Fells Point, Maryland?
Fells Point is a historic waterfront neighborhood in Baltimore, Maryland. Located in Baltimore County, this area is known for its charming cobblestone streets, lively entertainment, and waterfront views. People move to Fells Point for its walkable lifestyle, excellent dining options, and easy access to downtown Baltimore. Whether you're looking to buy or rent, it's important to understand the cost of living in this exciting neighborhood.
How Much Does Housing Cost in Fells Point, Maryland?
The average home price in Fells Point is around $450,000. Townhomes, which are very common in the area, typically range from $400,000 to $600,000. Condos in the neighborhood start at about $300,000, while luxury waterfront properties can exceed $1 million.
Housing prices vary depending on location. Homes closer to the waterfront and historic areas tend to be more expensive, while properties farther from the harbor may be more affordable. The real estate market in Fells Point has been stable, with home values increasing over recent years.
For more details on local housing trends, visit Maryland Realtors.
How Much Does It Cost to Rent in Fells Point, Maryland?
Renting in Fells Point costs about $2,100 per month for a one-bedroom apartment. A two-bedroom rental averages around $2,800, while larger three-bedroom units can go for $3,500 or more. Luxury apartments and waterfront rentals tend to have higher prices.
Popular rental locations include areas near Thames Street, where renters can enjoy easy access to restaurants, bars, and shops. Rental prices in Fells Point have increased slightly in the past few years as demand for housing continues to grow.
What Are the Utility Costs in Fells Point, Maryland?
Utility costs in Fells Point depend on the size of the home and usage. On average, a monthly utility bill, including electricity, gas, water, and sewage, costs between $150 and $250. Here’s a breakdown:
- Electricity & Gas – Around $100 – $150 per month (BGE)
- Water & Sewage – About $40 – $70 per month (Baltimore City Department of Public Works)
- Internet – Between $50 and $100, depending on the provider (Xfinity or Verizon)
For more details on utility providers, visit the Maryland Public Service Commission.
What Are the Taxes Like in Fells Point, Maryland?
Residents in Fells Point pay a property tax rate of 2.248%. The state income tax in Maryland ranges from 2% to 5.75%, depending on income levels. The state sales tax is 6%.
For more tax information, visit the Maryland Department of Assessments and Taxation.
What Are the Transportation Costs in Fells Point, Maryland?
Public transportation in Fells Point includes the Charm City Circulator, the MTA buses, and the Water Taxi. A monthly MTA bus pass costs about $74, and Water Taxi rides range from $8 to $20 per trip.
For drivers, gas prices average $3.50 per gallon, and car insurance rates are approximately $1,500 per year. Commuting times are reasonable, with most residents reaching downtown Baltimore in 10-15 minutes.
How Much Do Groceries and Dining Out Cost in Fells Point?
Grocery costs in Fells Point are about $400 to $600 per month for a single person. Families can expect to spend more. Popular grocery stores in the area include Whole Foods, Harris Teeter, and Safeway.
Dining out varies depending on the restaurant. A meal at a mid-range restaurant costs around $15 to $25 per person, while a fast-food meal is about $8 to $12. Fells Point is known for its seafood restaurants, pubs, and trendy coffee shops.
What Are the Entertainment and Leisure Costs in Fells Point, Maryland?
Staying active in Fells Point can range from $50 to $150 per month for gym memberships or fitness classes. Many gyms and boutique studios offer memberships throughout the area.
Local events such as the Fell’s Point Fun Festival are usually free, but tickets for concerts and other activities range from $10 to $50. Popular attractions include the Thames Street waterfront, the Broadway Market, and Patterson Park.
Frequently Asked Questions About the Cost of Living in Fells Point, Maryland
Q: Is Fells Point, Maryland an affordable place to live?
A: Fells Point is considered a mid-to-high-cost area. While it’s not the most expensive place in Baltimore, housing and rental prices are higher than in other neighborhoods. However, its charm, walkability, and waterfront location make it a desirable place to live.
Q: What is a good salary to live in Fells Point, Maryland?
A: A salary of around $75,000 to $100,000 per year is typically needed to live comfortably in Fells Point, considering housing costs, utilities, transportation, and entertainment expenses.
Q: How does the cost of living in Fells Point, Maryland compare to other cities?
A: The cost of living in Fells Point is higher than the Baltimore average due to its waterfront location and historic charm. However, it is still more affordable than cities like Washington, D.C. and New York City.
Q: What is the most expensive neighborhood in Fells Point, Maryland?
A: The most expensive areas in Fells Point are near the waterfront, particularly along Thames Street and near the Harbor Point development. Homes and condos in these areas have higher price tags.
Q: What is the cheapest neighborhood in Fells Point, Maryland?
A: More affordable options can be found on the western side of Fells Point, where homes and rentals tend to cost less than properties closer to the harbor.
