I lived in the dorms at Peabody (5 walking minutes from the water @ Inner Harbor, not sure if this is part of "inner harbor" or not - did NOT explore much, it's at "Washington Monument" - pales in comparison to the DC one, but that's what they called it). Lots of nice places to live (structure-wise, lots of beautiful old brownstones and whatnot).
Where I lived, I used to describe it as sandwiched between the transvestite crack whores and the scardy cat yuppies, with the gunshots mostly staying on the one side. I learned to keep the windows shut at night. Day time it was nice as could be and looked great. Night was scary. Most people I knew who lived there more than about a year all got mugged, but we were an artsy, distracted, and discontented lot.
Visit, and go out at night, and talk to locals. By the end of my year, I yearned for just one person to walk at a decent pace, rather than the "well, I might have somewhere to be before I die, but maybe not" pace that it felt like the locals moved at. Took a train to DC for the afternoon and was totally refreshed by being surrounded by people who simply walked faster. Determined to leave Baltimore permanently shortly after.
It's not my favorite city, but I was more than a little nuts when I was there (it was music school, for crissakes, and I'm an engineer now - I know I'm just "not right" in the head).
Oh - a good bit of advice - Don't take a taxi from the greyhound station to anywhere - they'll rip you off and take you for a ride, 100% of the time, even if you know the law and the fare, they simply won't agree to it. I usually just walked, but I wasn't going far.
And if you're a music lover, Peabody throws tons of concerts all the time for next to nothing (mostly free? don't remember, was free for me). Seriously world class musicians with tremendous talent. The creativity positively crackles from those buildings. CMU and Pitt have nothing on it, IMHO.
Wow but I was miserable there. Sad, because most everybody I talk to (now) loves the place and says it's an awesome place to live. I'm convinced they're right, I just wasn't there in the right frame of mind/location. I did really like the area where Johns Hopkins Main campus was, much nicer than where Peabody was. Cherry trees (I think?) on campus were breathtaking.