Baltimore is the most populous city in Maryland. Known as an important seaport and the birthplace of “The Star Spangled Banner”, this city has seen a recent growth in employment as well as a healthy real estate market.
Real Estate Market Trends in Baltimore
Baltimore median home price: $335,000
While Baltimore’s real estate market was on track with the national average from 2017 to 2020, at the beginning of 2021 it started falling behind and remains there. Baltimore home prices have risen year-over-year by 6.3%, but are still behind the national median price of $413,000. Like most of the country though, they are still dealing with just a 1 month's supply of homes and persistent demand.
Rental Market in Baltimore
Baltimore median rent: $1,764
Baltimore rental vacancy: 6.5%
Rental prices in the Baltimore market have seen an increase of 11.7% since last year. This rental market, however, is still just behind the national median rent price of $1,904. Their rental vacancy of 6.5% is currently up 0.8% year-over-year and is slightly higher than the national average of 5.8%.
See Also: Real Estate Investing Guides and Resources
Current Real Estate Investments in Baltimore
There are currently 30 multifamily and residential income properties for sale in Baltimore listed on Loopnet.
The two most interesting multifamily properties for sale in Baltimore right now are:
Portfolio of 42 Multifamily Homes: Situated in Baltimore County and Baltimore City, this array of properties includes townhomes, multifamily buildings, and single-family homes with great rental potential. Offered at $6,850,000 by Win Commercial Group.
600 W North Ave - This is a 182-unit apartment building to be built in 2023. Located in midtown Baltimore, this multifamily midrise will be an ideal location convenient to both Maryland Institute College of Art and the University of Baltimore. Harborstone Advisors is offering this opportunity.
Market data source: Housing Tides
More Real Estate News From Benzinga
- New Real Estate Investment Offering: 4 Single-Family Rental Homes in North Carolina with 20.7% Target Annualized Return
- Jeff Bezos Increases His Bet On The Single-Family Housing Market
Photo by Brendan Beale on Unsplash
