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Baltimore

Baltimore is a seaport city on the US East Coast, located 40 miles northeast of Washington, D.C. With an estimated population of 612,000 people, Baltimore is the largest city in the state of Maryland. The Baltimore metropolitan area is home to nearly 3 million people, making it the 21st largest metro area in the US. The city’s fairly large population combined with the fact that 54.5% of the residents (according to NeighborhoodScout) live in rental properties is a good indicator for those considering investing in the Baltimore real estate market. This means long-term rental properties can make for a profitable real estate investment in the city.

Baltimore is centrally located among major East Coast cities, with easy access via air, rail, and sea. This makes the city highly attractive to both residents and businesses. The city enjoys a highly diversified economy based on a range of different industries that present further growth opportunities. The education industry is one of the most important contributors to Baltimore’s economy. A total of 12 colleges and universities are located in the city, including the renowned Johns Hopkins University. Baltimore is also a center of medicine and healthcare. Home to two pioneering teaching hospitals, the Johns Hopkins Hospital and the University Hospital at the University of Maryland, the city is regarded as a national headquarters for advanced medical treatment and research. Several federal agencies, including the Federal Social Security Administration, are based in the Baltimore area and are some of the largest employers in the city. The port of Baltimore is the largest port in the Mid-Atlantic and is the closest to major Midwestern markets compared to other major seaports on the East Coast. 

Baltimore is also a hot tourist destination on the East Coast, with much of the tourism centered around the city’s Inner Harbor and the National Aquarium, which are the top tourist attractions in Maryland. Other major industries include manufacturing, retail trade, transportation and warehousing, construction, food processing, finance, and technology. The city’s expanding economy and workforce are good indicators for those considering buying an investment property in the Baltimore housing market.  


The Baltimore real estate market is one of the most affordable in the country. Investment properties are reasonably priced, which is a good factor for investors who do not have access to large sums of money. The Baltimore real estate market was listed among the most important U.S. Markets to Watch by PWC in its annual Emerging Trends in Real Estate: United States and Canada 2019 report. However, according to the report, there is a shortage in real estate properties in the face of very high demand.

Baltimore Realtors and Real Estate Agents

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Baltimore  Real Estate Investment Performance
Facts and Market Trends in Baltimore
Homes For Sale3,305
Airbnb Properties504
Rental Properties3,975
Traditional Vacancy rate10.40%
Airbnb Occupancy Rate53.69%
Mashmeter70.45%
Median Price$261,723
Median Rent Price$1,416
Price/sqft$172
Median Days on Market87
Price to Rent Ratio14.4
Average Cap Rate
Airbnb4.31%
Traditional2.95%
Average Rental Income
Airbnb$2,051
Traditional$1,518
 
Median Household Income$47,131
Population619,493
Transportation in Baltimore
69 / 100
Somewhat Walkable
57 / 100
Good Transit
52 / 100
Bikeable
Baltimore  Rent Prices
RENTAL STRATEGY STUDIOS 1 ROOM 2 ROOMS 3 ROOMS 4 ROOMS
Airbnb$1,438$1,425$1,574$1,837$3,120
Traditional$1,161$956$1,174$1,453$1,866
Baltimore, MD - Homes for Sale - Newly Listed
Investment Properties for Sale
$234,900
MLS MDBA489472
4404 VALLEY VIEW AVE
Baltimore, MD 21206
Wilson Heights
Single Family Residential
3 beds3 baths0 sq.ft.
CAP RATE
Trad. 0.86%Airbnb 2.48%
Investment Properties for Sale
$225,000
MLS MDBC478446
5315 HOLLOWSTONE CIR
Baltimore, MD 21237
Overlea
Townhouse
2 beds4 baths0 sq.ft.
CAP RATE
Trad. 0.50%Airbnb 2.14%
Investment Properties for Sale
$219,900
MLS MDBA491762
905 DARTMOUTHGLEN WAY
Baltimore, MD 21212
Chinquapin Park-Belvedere
Townhouse
3 beds2 baths0 sq.ft.
CAP RATE
Trad. 0.84%Airbnb 5.54%
Investment Properties for Sale
$200,000
MLS MDBA490226
2212 CANARY CT
Baltimore, MD 21231
Upper Fells Point
Townhouse
2 beds2 baths0 sq.ft.
CAP RATE
Trad. 2.75%Airbnb 3.06%
Top Performing Baltimore Properties
Investment Properties for Sale
$134,900
MLS MDBA481982
3034 GRANTLEY AVENUE
Baltimore, MD 21215
Towanda-Grantley
Townhouse
4 beds2 baths1,840 sq.ft.
CAP RATE
Trad. 4.79%Airbnb 7.98%
Investment Properties for Sale
$76,900
MLS MDBA480548
205 S FAGLEY STREET
Baltimore, MD 21224
Highlandtown
Townhouse
2 beds1 baths832 sq.ft.
CAP RATE
Trad. 7.88%Airbnb 7.95%
Investment Properties for Sale
$101,700
MLS MDBA488048
1254 GITTINGS AVENUE
Baltimore, MD 21239
Idlewood
Townhouse
3 beds1 baths1,258 sq.ft.
CAP RATE
Trad. 7.02%Airbnb 7.88%
Investment Properties for Sale
$77,900
MLS MDBA490096
4050 HILLEN ROAD
Baltimore, MD 21218
Lower Northwood
Townhouse
3 beds2 baths1,580 sq.ft.
CAP RATE
Trad. 4.99%Airbnb 7.86%
Recently Sold Homes in Baltimore, MD
Investment Properties for Sale
$250,000
MLS MDBA480060
1105 E 43RD STREET
Baltimore, MD 21239
Wilson Park
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$250,000
MLS MDBA480070
1103 E 43RD STREET
Baltimore, MD 21239
Wilson Park
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$309,900
MLS MDBA491450
119 S STRICKER ST
Baltimore, MD 21223
Union Square
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$359,900
MLS MDBA485514
2617 E FAYETTE STREET
Baltimore, MD 21224
McElderry Park
Multi Family
0 beds0 baths4,746 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Property Value Changes and Real Estate Appreciation in the Baltimore Housing Market

The median home value in the Baltimore housing market currently stands at $113,100, according to Zillow. Real estate appreciation in the Baltimore real estate market is tangible as value has risen by 78.97% since Q1 of 2000, which is an average annual home appreciation rate of 3.07%, according to NeighborhoodScout.

Zillow reports that Baltimore property values have declined 2.8% over the past year and are predicted to fall 6.1% within the next year. This can be a good sign for beginner real estate investors who usually have less access to cash and who plan on implementing the buy and hold strategy, as historically, this market is known to appreciate over time.

The Baltimore real estate market is currently a very hot seller’s market as there are way more buyers than available houses to buy.

Baltimore, MD Top Multi Family Homes
Investment Properties for Sale
$94,900
MLS MDBA101614
1732 MCCULLOH STREET
Baltimore, MD 21217
Madison Park
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. 7.09%Airbnb N/A
Investment Properties for Sale
$84,900
MLS MDBA101616
1507 N HILTON STREET
Baltimore, MD 21216
Rosemont
Multi Family
0 beds0 baths1,860 sq.ft.
CAP RATE
Trad. 6.97%Airbnb N/A
Investment Properties for Sale
$85,000
MLS MDBA478342
4411 FALLS BRIDGE DRIVE #D
Baltimore, MD 21211
Medfield
Multi Family
2 beds1 baths0 sq.ft.
CAP RATE
Trad. 6.14%Airbnb N/A
Investment Properties for Sale
$60,000
MLS MDBA489052
3814 FAIRHAVEN
Baltimore, MD 21226
Fairfield Area
Multi Family
0 beds0 baths1,116 sq.ft.
CAP RATE
Trad. 5.52%Airbnb N/A
Homes Below Median Price in the Baltimore, MD Real Estate Market
Investment Properties for Sale
$134,900
MLS MDBA481982
3034 GRANTLEY AVENUE
Baltimore, MD 21215
Towanda-Grantley
Townhouse
4 beds2 baths1,840 sq.ft.
CAP RATE
Trad. 4.79%Airbnb 7.98%
Investment Properties for Sale
$76,900
MLS MDBA480548
205 S FAGLEY STREET
Baltimore, MD 21224
Highlandtown
Townhouse
2 beds1 baths832 sq.ft.
CAP RATE
Trad. 7.88%Airbnb 7.95%
Investment Properties for Sale
$101,700
MLS MDBA488048
1254 GITTINGS AVENUE
Baltimore, MD 21239
Idlewood
Townhouse
3 beds1 baths1,258 sq.ft.
CAP RATE
Trad. 7.02%Airbnb 7.88%
Investment Properties for Sale
$77,900
MLS MDBA490096
4050 HILLEN ROAD
Baltimore, MD 21218
Lower Northwood
Townhouse
3 beds2 baths1,580 sq.ft.
CAP RATE
Trad. 4.99%Airbnb 7.86%
Baltimore Airbnb Growth and Regulations

The popularity of short-term rentals has surged in Baltimore in recent years. The city had the highest number of Airbnb guests in the state of Maryland in 2018, at 107,700 individuals, earning hosts a total of $14.9 million. This accounted for about 26% of Maryland’s total Airbnb income. 

In December 2018, the city of Baltimore passed a legislation establishing a comprehensive framework to regulate short-term rentals. Airbnb Baltimore hosts can list only their primary residence, meaning that they must be on site during the guests’ visit. Renting out other properties besides a primary home to guests is banned. However, individuals who have been operating a short-term rental prior to December  31, 2018 are allowed to continue to operate one additional short-term rental unit. 

There are a few other Airbnb regulations in the city. Airbnb hosts must obtain a license from the city and renew it bi-annually at a fee of $200. They must also register with the State Comptroller for the collection of state taxes. A 9.5% city hotel tax is also imposed on all Airbnb stays. While the Airbnb platform collects the city lodging taxes on behalf of its operators in some Maryland cities, it does not collect them on Baltimore bookings. This means that Airbnb Baltimore hosts are in charge of registering with tax authorities, collecting taxes from guests, and remitting them to the city and state. 

There are other operational requirements Baltimore requires of short-term rental hosts. Airbnb hosts must comply with city building, fire, and other codes, keep records of all rentals, designate an emergency contact that lives in the area and provide contact information for this person to guests. 

Failure to comply with any of the rules may result in licenses being suspended or revoked, and/or fines up to $500.

Baltimore, MD Top Airbnb Homes
Baltimore Airbnb
$120 per night
Entire home/apt · 1 bed
Charm in Charm City-One Bedroom Apt
405
Baltimore Airbnb
$69 per night
Entire home/apt · 1 bed
Stay in the Center of it All
404
Baltimore Airbnb
$67 per night
Baltimore Airbnb
$112 per night
Entire home/apt · 1 bed
Charming Historic Brick Home 1870's
349
Baltimore, MD Homes for Rent
Investment Properties for Sale
$2,500
MLS MDBA491822
709 S MACON STREET
Baltimore, MD
Greektown
Townhouse
2 beds3 baths1,568 sq.ft.
Investment Properties for Sale
$2,500
MLS MDBC478566
239 ANVIL WAY
Baltimore, MD
Bellona-Gittings
Townhouse
3 beds4 baths2,048 sq.ft.
Investment Properties for Sale
$2,800
MLS MDBA491464
1112 S CLINTON STREET
Baltimore, MD
Canton
Townhouse
3 beds3 baths2,120 sq.ft.
Investment Properties for Sale
$2,800
MLS MDBA491464
1112 S CLINTON STREET
Baltimore, MD
Canton
Townhouse
3 beds3 baths2,120 sq.ft.
Baltimore, MD Open Houses
Investment Properties for Sale
Open 11 AM to 1 PM
$130,000
MLS MDBA491884
4216 SHAMROCK AVENUE
Baltimore, MD 21206
Belair-Parkside
Townhouse
3 beds2 baths1,525 sq.ft.
CAP RATE
Trad. 2.69%Airbnb 6.57%
Investment Properties for Sale
Open 11 AM to 1 PM
$219,900
MLS MDBC478504
1838 GLEN RIDGE ROAD
Baltimore, MD 21286
Idlewood
Townhouse
3 beds2 baths1,580 sq.ft.
CAP RATE
Trad. 2.67%Airbnb 3.01%
Investment Properties for Sale
Open 11 AM to 12:30 PM
$144,500
MLS MDBA491858
335 HOMELAND SOUTHWAY #2A
Baltimore, MD 21212
Villages of Homeland
Condo/Coop
2 beds2 baths1,064 sq.ft.
CAP RATE
Trad. 2.97%Airbnb 2.32%
Investment Properties for Sale
Open 12 PM to 1:30 PM
$389,900
MLS MDBA491724
251 S ELLWOOD AVENUE
Baltimore, MD 21224
Highlandtown
Townhouse
3 beds3 baths1,765 sq.ft.
CAP RATE
Trad. 1.90%Airbnb 1.25%
Best Baltimore Neighborhoods for Buying Investment Property
86%
Mashmeter
property price
$249,000
Median
cap rate
10.27%
Traditional
11.79%
Airbnb
rental income
$2,130
Traditional
$2,446
Airbnb
homes for sale
17
occupancy rate
53%
Airbnb
55%
Mashmeter
property price
$558,642
Median
cap rate
3.61%
Traditional
4.27%
Airbnb
rental income
$1,683
Traditional
$1,987
Airbnb
homes for sale
0
occupancy rate
52%
Airbnb
92%
Mashmeter
property price
$485,000
Median
cap rate
5.40%
Traditional
6.05%
Airbnb
rental income
$2,184
Traditional
$2,445
Airbnb
homes for sale
33
occupancy rate
53%
Airbnb
71%
Mashmeter
property price
$205,000
Median
cap rate
9.85%
Traditional
12.83%
Airbnb
rental income
$1,683
Traditional
$2,192
Airbnb
homes for sale
1
occupancy rate
54%
Airbnb
81%
Mashmeter
property price
$124,900
Median
cap rate
13.81%
Traditional
19.98%
Airbnb
rental income
$1,437
Traditional
$2,079
Airbnb
homes for sale
1
occupancy rate
54%
Airbnb
All Baltimore Neighborhoods