Best Affordable Neighborhoods in Frederick, MD
Some of the cheapest neighborhoods in Frederick are Frederick Heights, Waterford, and Ballenger Creek. These neighborhoods offer some of the lowest rent prices in Frederick, making them ideal for renters on a budget. As of May 4, 2026, the average rent in Frederick is $1,768, which is 3.7% 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.
Frederick Heights
Average Rent
$1,400/Month
Year-Over-Year Rent Change
4.2%
Units Available
10 Rentals
Frederick Heights, a diverse neighborhood, is a hub for affordable housing. The community feel, access to local parks, schools, and proximity to downtown Frederick make it a sought-after location. It's a perfect fit for those who enjoy suburban living with city conveniences at their fingertips.
Waterford
Average Rent
$1,873/Month
Year-Over-Year Rent Change
5%
Units Available
12 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.
Ballenger Creek
Average Rent
$1,977/Month
Year-Over-Year Rent Change
2.3%
Units Available
46 Rentals
Ballenger Creek is a top choice for budget-conscious renters for a variety of reasons. The average rent in Ballenger Creek is $1,977 while the city average is $1,768. This is a 2.3% difference from last year. Residents enjoy convenient access to Hagerstown Community College, Montgomery College, and Monocacy National Battlefield.
Tuscarora Creek
Average Rent
$2,222/Month
Year-Over-Year Rent Change
5%
Units Available
12 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.
Monocacy Meadows
Average Rent
$2,231/Month
Units Available
17 Rentals
When you’re looking for a great Frederick neighborhood on a budget, check out Monocacy Meadows. The average rent is $2,231, compared to the city average of $1,768. Monocacy Meadows is convenient to College Park Plaza Shopping Center, Monocacy National Battlefield, and Crumland Farms.
Nicodemus
Average Rent
$2,231/Month
Units Available
17 Rentals
Nicodemus is an affordable neighborhood in Frederick with an average rent price of $2,231. Compare this to the city average of $1,768. Nicodemus provides easy access to Washington Dulles International, Crumland Farms, and Monocacy National Battlefield.
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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.