Cheapest Neighborhoods in Frederick, MD
Some of the cheapest neighborhoods in Frederick are Waterford, Tuscarora Creek, and Ballenger Creek. These neighborhoods offer some of the lowest rent prices in Frederick, making them ideal for renters on a budget. As of June 18, 2026, the average rent in Frederick is $1,775, which is 3% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Waterford
Average Rent
$1,845/Month
Year-Over-Year Rent Change
2.3%
Units Available
18 Rentals
Waterford, a picturesque neighborhood, is known for its modern homes, well-maintained parks, and access to local schools. The tight-knit atmosphere and nearby shopping and dining options make it an ideal location for families seeking a suburban lifestyle with recreational activities at their doorstep.
Tuscarora Creek
Average Rent
$1,991/Month
Year-Over-Year Rent Change
1.3%
Units Available
17 Rentals
Tuscarora Creek is a scenic, master-planned community offering modern homes, beautiful green spaces, and access to walking trails. Renters will enjoy the peaceful atmosphere and proximity to local amenities. The area is perfect for families and outdoor enthusiasts seeking a nature-focused suburban lifestyle.
Ballenger Creek
Average Rent
$1,992/Month
Year-Over-Year Rent Change
4.8%
Units Available
64 Rentals
Ballenger Creek is a top choice for budget-conscious renters for a variety of reasons. The average rent in Ballenger Creek is $1,992 while the city average is $1,775. This is a 4.8% difference from last year. Residents enjoy convenient access to Gambrill State Park, Hagerstown Community College, and Shepherd University.
Monocacy Meadows
Average Rent
$2,206/Month
Units Available
24 Rentals
When you’re looking for a great Frederick neighborhood on a budget, check out Monocacy Meadows. The average rent is $2,206, compared to the city average of $1,775. Monocacy Meadows is convenient to Summers Farm, Montgomery College, and Everedy Square & Shab Row.
Nicodemus
Average Rent
$2,206/Month
Units Available
24 Rentals
Nicodemus is an affordable neighborhood in Frederick with an average rent price of $2,206. Compare this to the city average of $1,775. Nicodemus provides easy access to Everedy Square & Shab Row, Hood College, and Washington Dulles International.
Fredericktowne Village
Average Rent
$2,244/Month
Year-Over-Year Rent Change
2.1%
Units Available
13 Rentals
Fredericktowne Village is a great neighborhood known for its community parks and access to local schools. Renters will appreciate the suburban feel while being close to major shopping centers and restaurants. The area is ideal for families seeking a close-knit community with modern conveniences.
Monocacy Village
Average Rent
$2,244/Month
Units Available
13 Rentals
If you’re looking for a great, affordable neighborhood in Frederick, Monocacy Village might be the perfect place! It has an average rent price of $2,244, while the city’s average stands at $1,775. Monocacy Village is near Monocacy Village, The Children's Museum of Rose Hill Manor Park, and Mount Saint Mary's University.
Ready to make your move to Frederick? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.