The True Cost Of Living In Waverly, Maryland

How Much Does It Cost to Live in Waverly, Maryland?

Located in Baltimore City, Maryland, Waverly is a charming neighborhood with tree-lined streets, historic homes, and a vibrant local culture. Close to Johns Hopkins University and downtown Baltimore, it offers a mix of city life and suburban comfort. With farmers' markets, parks, and community events, it's a great place to call home. Many people move here for its convenience, affordability, and strong sense of community.

How Much Does Housing Cost in Waverly, Maryland?

The average home price in Waverly is around $280,000, though prices vary by home type. Single-family homes average $300,000, while townhouses sell for around $250,000. Condos are typically the most affordable, with prices averaging $200,000.

Home prices can change based on the neighborhood. Areas close to Greenmount Avenue tend to be more affordable, while homes near 33rd Street are pricier due to their proximity to shops and restaurants.

The real estate market in Waverly has remained steady, with moderate price increases over the last few years. Homes sell quickly, and demand remains strong. For more details on home values, visit Maryland Realtors.

How Much Does It Cost to Rent in Waverly, Maryland?

Renting in Waverly is more affordable than other parts of Baltimore City. On average, a one-bedroom apartment costs about $1,300 per month. A two-bedroom apartment averages $1,600, while a three-bedroom rental can be around $2,000.

Popular rental areas include Greenmount West and streets near Johns Hopkins University, where demand is high among students and professionals.

Rental prices have slowly risen over the years, reflecting Baltimore's overall trend of increasing housing costs. However, Waverly remains a budget-friendly option compared to areas like Canton or Federal Hill.

What Are the Utility Costs in Waverly, Maryland?

Utility costs in Waverly are similar to other parts of Baltimore City. The average monthly bill includes:

Electricity & Gas: Around $150 to $200 per month – serviced by Baltimore Gas and Electric (BGE).
Water & Sewage: Typically $50 to $80 per month – managed by Baltimore City Department of Public Works.
Internet: High-speed internet plans range from $50 to $100 – popular providers include Xfinity and Verizon Fios.

For a full list of local utility providers, visit the Maryland Public Service Commission.

What Are the Taxes Like in Waverly, Maryland?

Property Tax: Baltimore City has a property tax rate of 2.248%, one of the highest in Maryland.
State Income Tax: Maryland’s income tax ranges from 2% to 5.75%, depending on income.
Sales Tax: 6% on goods and services.

For more information on Maryland taxes, visit the Maryland Department of Assessments and Taxation.

What Are the Transportation Costs in Waverly, Maryland?

Public transportation in Waverly is convenient and budget-friendly. Options include:

Maryland Transit Administration (MTA) buses: $2.00 per ride, or $74.00 for a monthly pass.
Metro SubwayLink and Light RailLink: Single rides are $2.00.
Bike and scooter rentals available for short trips.

For drivers, the average gas price in Baltimore is about $3.50 per gallon. Car insurance costs vary but typically range from $110 to $150 per month.

How Much Do Groceries and Dining Out Cost in Waverly?

Groceries: A typical family of four spends around $600 to $800 per month on groceries. Markets like Giant, Safeway, and local farmer’s markets help keep costs manageable.
Dining Out: A meal at a budget-friendly restaurant costs about $15 per person, while a nice dinner for two at a mid-range restaurant can be $50 to $70. Fast food prices range from $7 to $12 per meal.

What Are the Entertainment and Leisure Costs in Waverly, Maryland?

Gym Memberships: Local gyms charge $30 to $60 per month.
Fitness Classes: Yoga or spinning classes start at $15 per session.
Local Events: Concerts and festivals typically cost between $10 and $50 per ticket.
Attractions: Baltimore Museum of Art is free, while Maryland Science Center costs around $25 per person.

Frequently Asked Questions About the Cost of Living in Waverly, Maryland

Q: Is Waverly, Maryland an affordable place to live?

A: Yes, Waverly is more affordable than many other Baltimore neighborhoods. Home prices and rental rates are lower than areas like Canton or Federal Hill, making it a budget-friendly option for families and young professionals.

Q: What is a good salary to live in Waverly, Maryland?

A: To live comfortably in Waverly, a salary of at least $60,000 to $80,000 per year is recommended. This accounts for rent, utilities, food, and other daily expenses.

Q: How does the cost of living in Waverly, Maryland compare to other cities?

A: Waverly is more affordable than downtown Baltimore, but slightly more expensive than areas in Baltimore County. Compared to cities like Washington, D.C., it is much more budget-friendly.