In Major League Baseball, there is a clear separation between big market and small market teams. Every season, franchises like the New York Yankees and Los Angeles Dodgers epitomize the phrase “the rich get richer.”
Per MLB.com, those two teams have faced off the most times in postseason history.
They attract the big-name superstars, sell the most jerseys, and draw the largest fan bases in sports.
But why?
Since there’s no hard salary cap in baseball, small market teams are at a severe disadvantage when it comes to retaining productive players, signing top free agents, and remaining competitive.
And there’s a growing list of reasons why it’s only getting harder.
- While bigger market teams can eat millions of dollars, one bad contract can sink an entire small-market squad’s budget (see Chris Davis).
- The market inefficiencies uncovered by GMs like Billy Beane have been patched up. Every team can now access cutting-edge technology and advanced analytics to evaluate talent.
- The seemingly brilliant execs who succeed with less are eventually poached by richer teams (see Andrew Friedman, Farhan Zaidi, and many others).
As the famous Moneyball line goes, “There are rich teams and there are poor teams…then there’s 50 feet of crap, and then there’s us.”
Here are the smallest market teams in Major League Baseball right now – broken down by market size, franchise value, payroll, stadium capacity, and more.
- 1.) Milwaukee Brewers
- 2.) Kansas City Royals
- 3.) Cincinnati Reds
- 4.) Pittsburgh Pirates
- 5.) Tampa Bay Rays
1.) Milwaukee Brewers
Market Size: 1,689,572 people
Stadium Capacity: 41,900
2025 Total Payroll: $95,541,136 (23rd of 30)
Franchise Value: $1.6B (19th of 30)
The Milwaukee Brewers are the smallest market MLB team with a market size of 1,689,572 people.
Despite their size, the Brewers boast a loyal fanbase and a competitive squad that has made the playoffs six times since 2018.
While they may not have the same resources as a team like the Dodgers, the Brew Crew makes the most of what they have. And with young up-and-coming players like Joey Ortiz and Brice Turang, there’s hope for the future.
2.) Kansas City Royals
Market Size: 1,776,062 people
Stadium Capacity: 37,903
2025 Total Payroll: $113,274,444 (20th of 30)
Franchise Value: $1.23B (28th of 30)
Despite coming off their first winning season in 9 years, the Kansas City Royals are the last small-market team to win the World Series (2015). They are also the best example of the downfall of a small market squad.
In the years following their championship season, the Royals began losing their young core of sluggers. Eric Hosmer, Lorenzo Cain, and Mike Moustakas all departed in free agency or via trade.
Kansas City simply couldn’t afford to extend these players, and thus began the next cycle of tanking and rebuilding.
But now, with Bobby Witt Jr. and help from top-rated prospects like Jac Caglianone on the horizon, Royals fans are hoping their team can build on last year’s ALDS run.
3.) Cincinnati Reds
Market Size: 1,979,202 people
Stadium Capacity: 45,814
2025 Total Payroll: $102,565,833 (22nd of 30)
Franchise Value: $1.26B (26th of 30)
The days of the “Big Red Machine” might be long gone, but this franchise is back on the come-up. While the Reds have finished dead last in the NL Central four times since 2015, Cincinnati is on the cusp of success with one of the lower-cost rosters in baseball.
After a brilliant 2021 season, star outfielder Nick Castellanos left for Philadelphia in free agency. Meanwhile, the front office traded away bright spots Jesse Winker and Eugenio Suarez for a bundle of lower-cost prospects.
But it looks like they had a gameplan after all.
Now, the nearly two million people of Cincinnati have been reinvigorated by a new-look group potential superstars like Elly De La Cruz, Matt McLain, and Hunter Greene.
The best part? Their young core is stacked with players still in their pre-arbitration years.
4.) Pittsburgh Pirates
Market Size: 2,358,695 people
Stadium Capacity: 38,362
2025 Total Payroll: $77,008,500 (25th of 30)
Franchise Value: $1.32B (25th of 30)
The last time the Pirates made it past the Wild Card game was during Andrew McCutchen’s MVP season in 2013.
Yes – that was a long time ago.
Pittsburgh fans are continually disappointed by ownership’s refusal to pursue big-time talent. So much so that they once started a petition for owner Bob Nutting to sell the team.
Currently, the Pirates have four players on MLB’s Top 100 Prospects list. Along with phenom Paul Skenes on the bump and Bryan Reynolds in the outfield, the young talent provides a glimmer of hope to a franchise that refuses to spend big in free agency.
5.) Tampa Bay Rays
Market Size: 2,395,997 people
Stadium Capacity: 11,026 (George M. Steinbrenner Field)
2025 Total Payroll: $71,716,545 (27th of 30)
Franchise Value: $1.25B (27th of 30)
Unlike the other teams on this list, the Tampa Bay Rays have a rare ability to make the most of their limited resources.
With a penchant for finding hidden gems and an unorthodox approach to managing games, the team has remained competitive since their out-of-nowhere Cinderella season in 2008.
Tampa’s farm system is consistently top-tier, while their low-payroll roster always seems to outperform expectations.
According to Spotrac, the New York Mets’ top-2 players (Juan Soto and Francisco Lindor) make more money than the Rays’ entire 26-man roster ($71.7MM) in 2025. And still, the Rays find a way to win.
It’ll be an interesting season, however, as Hurricane Milton forced the team to relocate to George M. Steinbrenner Field in Tampa. The Yankees’ spring training home only seats a quarter of the capacity of Tropicana Field.
RELATED: MLB Players Who Came From Division 3 Schools (Past & Present)
More small-market MLB teams:
- Miami Marlins (30th in payroll)
- Colorado Rockies (6th in market size)
- St. Louis Cardinals (7th in market size)
- Baltimore Orioles
- Arizona Diamondbacks
- Minnesota Twins
- San Diego Padres
More from this series:
- Smallest Market Teams in the NBA Today
- Ranking the Smallest Market NFL Teams
- Smallest Market Teams in the NHL
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