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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 Sale
3,266
Airbnb Properties
563
Rental Properties
6,228
Traditional Vacancy rate
10.40%
Airbnb Occupancy Rate
55.16%
Mashmeter
70.35%
Median Price
$256,620
Median Rent Price
$1,534
Price/sqft
$226
Median Days on Market
87
Price to Rent Ratio
13.9
Average Cap Rate
Airbnb
4.81%
Traditional
2.96%
Average Rental Income
Airbnb
$2,213
Traditional
$1,534
 
Median Household Income
$47,131
Population
619,493
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$1,374$1,457$1,593$1,875$2,776
Traditional$1,125$953$1,165$1,449$1,875
Baltimore, MD - Homes for Sale - Newly Listed
$165,000
MLS MDBA475886
6106 MAYLANE DRIVE
Baltimore, MD 21212
Lake Walker
Single Family Residential
3 beds2 baths1,944 sq.ft.
CAP RATE
Trad. 3.32%Airbnb 5.43%
$365,000
MLS MDBA477786
902 S CLINTON STREET
Baltimore, MD 21224
Brewers Hill
Townhouse
3 beds3 baths1,458 sq.ft.
CAP RATE
Trad. 1.02%Airbnb 3.08%
$158,000
MLS MDBA476920
10 COBBER LANE
Baltimore, MD 21229
Tremont
Townhouse
3 beds2 baths1,224 sq.ft.
CAP RATE
Trad. 1.81%Airbnb -3.53%
$275,000
MLS MDBA477868
111 N LUZERNE AVENUE
Baltimore, MD 21224
Patterson Place
Townhouse
3 beds3 baths2,205 sq.ft.
CAP RATE
Trad. 0.72%Airbnb 3.43%
Top Performing Baltimore Properties
$150,000
MLS MDBA436506
3702 PARK HEIGHTS AVENUE
Baltimore, MD 21215
Park Circle
Townhouse
4 beds2 baths0 sq.ft.
CAP RATE
Trad. 3.66%Airbnb 8.00%
$154,000
MLS MDBA476492
3013 W GARRISON AVENUE
Baltimore, MD 21215
Pimlico Good Neighbors
Townhouse
4 beds2 baths0 sq.ft.
CAP RATE
Trad. 7.99%Airbnb 7.99%
$71,000
MLS MDBA304654
4213 SEIDEL AVE
Baltimore, MD 21206
Belair-Parkside
Townhouse
3 beds2 baths0 sq.ft.
CAP RATE
Trad. 5.34%Airbnb 7.99%
$137,997
MLS
4017 Greenspring Ave
Baltimore, MD 21209
Greenspring
Single Family Residential
4 beds1 baths2,072 sq.ft.
CAP RATE
Trad. 4.65%Airbnb 7.98%
Recently Sold Homes in Baltimore, MD
$179,900
MLS MDBA477136
1400 ELMTREE STREET
Baltimore, MD 21226
Curtis Bay Industrial Area
Multi Family
0 beds0 baths2,460 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$384,000
MLS MDBC461232
2126 TURKEY POINT ROAD
Baltimore, MD 21221
Eastwood
Multi Family
0 beds0 baths2,282 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$249,900
MLS MDBC463522
1214 BAKER AVENUE
Baltimore, MD 21207
West Hills
Multi Family
0 beds0 baths1,584 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$210,000
MLS MDBA477838
3606 GARRISON BOULEVARD
Baltimore, MD 21215
Callaway-Garrison
Multi Family
0 beds0 baths2,728 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
$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
$80,000
MLS MDBA465040
4100 NORFOLK AVENUE
Baltimore, MD 21216
Concerned Citizens of Forest Park
Multi Family
0 beds0 baths1,887 sq.ft.
CAP RATE
Trad. 7.00%Airbnb N/A
$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
$75,000
MLS MDBA384352
531 E PATAPSCO AVENUE
Baltimore, MD 21225
Brooklyn
Multi Family
0 beds0 baths1,624 sq.ft.
CAP RATE
Trad. 6.96%Airbnb N/A
Homes Below Median Price in the Baltimore, MD Real Estate Market
$150,000
MLS MDBA436506
3702 PARK HEIGHTS AVENUE
Baltimore, MD 21215
Park Circle
Townhouse
4 beds2 baths0 sq.ft.
CAP RATE
Trad. 3.66%Airbnb 8.00%
$154,000
MLS MDBA476492
3013 W GARRISON AVENUE
Baltimore, MD 21215
Pimlico Good Neighbors
Townhouse
4 beds2 baths0 sq.ft.
CAP RATE
Trad. 7.99%Airbnb 7.99%
$71,000
MLS MDBA304654
4213 SEIDEL AVE
Baltimore, MD 21206
Belair-Parkside
Townhouse
3 beds2 baths0 sq.ft.
CAP RATE
Trad. 5.34%Airbnb 7.99%
$137,997
MLS
4017 Greenspring Ave
Baltimore, MD 21209
Greenspring
Single Family Residential
4 beds1 baths2,072 sq.ft.
CAP RATE
Trad. 4.65%Airbnb 7.98%
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
$69 per night
Entire home/apt · 1 bed
Stay in the Center of it All
393
$120 per night
Entire home/apt · 1 bed
Charm in Charm City-One Bedroom Apt
380
$67 per night
$112 per night
Entire home/apt · 1 bed
Charming Historic Brick Home 1870's
316
Baltimore, MD Homes for Rent
$1,500
MLS MDBA476012
5205 ELMER AVENUE
Baltimore, MD
Arlington
Townhouse
3 beds1 baths0 sq.ft.
$1,100
MLS MDBA477878
1805 BOLTON STREET #2
Baltimore, MD
Bolton Hill
Apartment
1 beds1 baths600 sq.ft.
$1,775
MLS MDBA477764
107 E BARNEY STREET
Baltimore, MD
SBIC
Townhouse
2 beds2 baths1,120 sq.ft.
$1,650
MLS MDBA477754
603 S MACON STREET
Baltimore, MD
Greektown
Townhouse
3 beds3 baths1,625 sq.ft.
Baltimore, MD Open Houses
Open 12 PM to 2 PM
$225,000
MLS MDBC462476
7838 BIRMINGHAM AVENUE
Baltimore, MD 21234
North Harford Road
Single Family Residential
3 beds2 baths1,586 sq.ft.
CAP RATE
Trad. 2.00%Airbnb 4.67%
Open 12 PM to 2 PM
$324,900
MLS MDBC466372
117 E SUSQUEHANNA AVE
Baltimore, MD 21286
Lake Walker
Single Family Residential
3 beds2 baths0 sq.ft.
CAP RATE
Trad. 1.43%Airbnb 2.50%
Open 12 PM to 2 PM
$289,000
MLS MDBA477674
815 S ELLWOOD AVENUE
Baltimore, MD 21224
Canton
Townhouse
2 beds2 baths1,260 sq.ft.
CAP RATE
Trad. 0.95%Airbnb 0.80%
Open 12 PM to 2 PM
$278,900
MLS MDBA477242
1310 W OLD COLD SPRING LANE
Baltimore, MD 21209
Medfield
Single Family Residential
3 beds1 baths1,620 sq.ft.
CAP RATE
Trad. 1.39%Airbnb 5.12%
Best Baltimore Neighborhoods for Buying Investment Property
83%
Mashmeter
property price
$280,450
Median
cap rate
7.72%
Traditional
9.02%
Airbnb
rental income
$1,805
Traditional
$2,108
Airbnb
homes for sale
10
occupancy rate
59%
Airbnb
85%
Mashmeter
property price
$802,000
Median
cap rate
2.82%
Traditional
3.83%
Airbnb
rental income
$1,888
Traditional
$2,558
Airbnb
homes for sale
20
occupancy rate
58%
Airbnb
83%
Mashmeter
property price
$250,958
Median
cap rate
10.21%
Traditional
9.69%
Airbnb
rental income
$2,136
Traditional
$2,026
Airbnb
homes for sale
19
occupancy rate
58%
Airbnb
58%
Mashmeter
property price
$156,000
Median
cap rate
11.36%
Traditional
16.16%
Airbnb
rental income
$1,476
Traditional
$2,101
Airbnb
homes for sale
0
occupancy rate
60%
Airbnb
88%
Mashmeter
property price
$165,000
Median
cap rate
15.22%
Traditional
17.32%
Airbnb
rental income
$2,092
Traditional
$2,382
Airbnb
homes for sale
0
occupancy rate
57%
Airbnb
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