Baltimore is the most populous city in Maryland. Known as a major seaport and the birthplace of “The Star Spangled Banner”, this city has seen recent job growth as well as a healthy real estate market.
Real Estate Market Trends in Baltimore
Median home price in Baltimore: $335,000
While the Baltimore real estate market was on track with the national average from 2017 to 2020, in early 2021 it started to lag and remains there. Home prices in Baltimore are up 6.3% year over year, but are still below the national median price of $413,000. However, like most countries, they still only have a month’s supply of homes and continued demand.
Rental market in Baltimore
Baltimore Median Rent: $1,764
Rental vacancy in Baltimore: 6.5%
Rental prices in the Baltimore market have seen an 11.7% increase since last year. This rental market, however, is still just behind the national median rental price of $1,904. Their rental vacancy rate of 6.5% is currently up 0.8% year over year and slightly above the national average of 5.8%.
See also: Real Estate Investing Guides and Resources
Current real estate investments in Baltimore
There are currently 30 multi-family and residential income properties for sale in Baltimore listed on Loopnet.
The two hottest multi-family properties for sale in Baltimore right now are:
Portfolio of 42 multi-family homes: Located in Baltimore County and Baltimore City, this array of properties includes townhouses, multi-family buildings, and single-family homes with great rental potential. Offered at $6,850,000 by Win Commercial Group.
600 W North Avenue – This is a 182-unit apartment building that will be built in 2023. Located in downtown Baltimore, this multi-family building will be an ideal location near the Maryland Institute College of Art and the University of Baltimore. Harborstone Advisors offers this opportunity.
Source of market data: Housing Tides
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