State: Maryland
Baltimore, Maryland, is considered a prime location in the Mid-Atlantic. It's located along the I-95 corridor northeast of Washington, DC.
Greater Baltimore is the 20th largest MSA by population in the U.S., with 2.8 million residents. The broader Baltimore-Washington, DC- Arlington, VA CSA is home to 9.8 million residents.
The Baltimore real estate market holds a lot of potential for real estate investors. Not long ago, Baltimore ranked high on nearly every national list for foreclosures. Today, thanks to several revitalization projects and renovations, Baltimore City is experiencing the early stages of a real estate boom.
According to Realtor.com, the median listing price in Baltimore is $159 per square foot, and the median sales price is $210,000. The median rent in Baltimore is $1,740 per month. Home values in Baltimore have increased by 16% since last year. Baltimore's affordability and appreciation attract many first-time home buyers who become commuters to Arlington, Virginia, and Washington, DC as well as real estate investors.
Baltimore's prime location, affordable housing, and growing appreciation make it a great potential investment opportunity.
Baltimore is known as the "City of Neighborhoods" because it's home to over 100 distinct, vibrant communities. Some of the best neighborhoods in and suburbs of Baltimore include Canton, Columbia, Federal Hill, Hampden, and Towson.
Baltimore has a strong renters market. It was recently listed as the 4th best real estate market for single-family rental yield by Attom Data Solutions.
Key drivers of the city's rental market include its affordability and proximity to Arlington, Virginia, and Washington, DC. Just how many renters are in Baltimore? According to RentCafe, 49% of households in Baltimore are renter occupied.
Baltimore's strong rental market and its affordable home prices and appreciation offer many investment opportunities. Homeowners and property investors who want to earn rental income and increase their cash flow should consider leasing rental property in Baltimore.
Not only is Baltimore ideally located and affordable, but it also has a booming economy.
Baltimore County is the 3rd most populous county in Maryland and Baltimore accounts for 50% of Maryland's GDP.
Baltimore has a diverse economy with several primary industries. These include financial services, transportation distribution and logistics, construction, manufacturing, education, and healthcare.
Baltimore's top federal employers are the Social Security Administration and Centers for Medicare and Medicaid Services.
Baltimore's largest private employers include T. Rowe Price, Community College of Baltimore County, Towson University, McCormick and Company, and Lockheed Martin.
Baltimore has a 10-year projected job growth rate of 25% and an average unemployment rate.
For years, Baltimore's real estate market has been underestimated. The city's prime location, affordability, appreciation, and solid economy make it a good investment opportunity. Real estate investors should consider taking advantage of low-interest rates and investing in a Baltimore rental property before word gets out about the market's potential.
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