Best Affordable Neighborhoods in Frederick, MD
Some of the cheapest neighborhoods in Frederick are Frederick Heights, Waterford, and The Residences at the Manor. These neighborhoods offer some of the lowest rent prices in Frederick, making them ideal for renters on a budget. As of February 2, 2026, the average rent in Frederick is $1,720, which is 0% 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
$1,396/Month
Year-Over-Year Rent Change
17.5%
TransitScore® Rating
29/100
Units Available
11 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
$1,767/Month
Year-Over-Year Rent Change
8.7%
TransitScore® Rating
27/100
Units Available
13 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.
The Residences at the Manor
Average Rent
$1,800/Month
TransitScore® Rating
28/100
Units Available
19 Rentals
If you’re looking for a great, affordable neighborhood in Frederick, The Residences at the Manor might be the perfect place! It has an average rent price of $1,800, while the city’s average stands at $1,720. The Residences at the Manor is near Monocacy National Battlefield, The Children's Museum of Rose Hill Manor Park, and Summers Farm.
Kingsbrook
Average Rent
$1,820/Month
Units Available
21 Rentals
Kingsbrook is a top choice for budget-conscious renters for a variety of reasons. The average rent in Kingsbrook is $1,820 while the city average is $1,720. Residents enjoy convenient access to Monocacy National Battlefield, Mount Saint Mary's University, and Shepherd University.
Kingsbrook Townhomes
Average Rent
$1,820/Month
Units Available
20 Rentals
When you’re looking for a great Frederick neighborhood on a budget, check out Kingsbrook Townhomes. The average rent is $1,820, compared to the city average of $1,720. Kingsbrook Townhomes is convenient to Montgomery College, Westview Promenade, and Crumland Farms.
Kingsbrook Sovereign
Average Rent
$1,820/Month
Units Available
21 Rentals
Kingsbrook Sovereign is an affordable neighborhood in Frederick with an average rent price of $1,820. Compare this to the city average of $1,720. Kingsbrook Sovereign provides easy access to Mount Saint Mary's University, Montgomery College, and Westview Promenade.
Fredericktowne Village
Average Rent
$1,891/Month
Year-Over-Year Rent Change
1.4%
TransitScore® Rating
21/100
Units Available
10 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
$1,891/Month
Units Available
10 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 $1,891, while the city’s average stands at $1,720. Monocacy Village is near College Park Plaza Shopping Center, Hagerstown Community College, and Monocacy Village.
Ballenger Creek
Average Rent
$1,895/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
1/100
Units Available
63 Rentals
Ballenger Creek is a top choice for budget-conscious renters for a variety of reasons. The average rent in Ballenger Creek is $1,895 while the city average is $1,720. This is a 1.1% difference from last year. Residents enjoy convenient access to Montgomery College, Monocacy National Battlefield, and Ballenger Creek Plaza. The neighborhood is considered car-dependent with a WalkScore® of 40.
Old Farm
Average Rent
$2,020/Month
TransitScore® Rating
18/100
Units Available
12 Rentals
When you’re looking for a great Frederick neighborhood on a budget, check out Old Farm. The average rent is $2,020, compared to the city average of $1,720. Old Farm is convenient to Washington Dulles International, Whittier Lakefront Center, and Walnut Ridge Shopping Center. The community is somewhat walkable with a WalkScore® of 57.
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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.