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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 Sale1,390
Airbnb Properties628
Rental Properties5,430
Traditional Vacancy rate6.40%
Airbnb Occupancy Rate52.09%
Mashmeter70.87%
Median Price$227,450
Median Rent Price$1,452
Price/sqft$175
Median Days on Market78
Price to Rent Ratio14.3
Average Cap Rate
Airbnb3.36%
Traditional4.26%
Average Rental Income
Airbnb$2,008
Traditional$1,544
 
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$1,093$959$1,333$2,377$3,366
Traditional$916$993$1,224$1,588$1,992
Baltimore, MD - Homes for Sale - Newly Listed
$310,000
MLS MDBA544212
5921 SIMMONDS AVENUE
Baltimore, MD 21215
Cheswolde
Single Family Residential
3 beds3 baths2,050 sq.ft.
CAP RATE
Trad. 1.51%Airbnb 3.28%
$349,900
MLS MDBA546752
3006 ABELL AVENUE
Baltimore, MD 21218
Abell
Townhouse
3 beds3 baths2,130 sq.ft.
CAP RATE
Trad. 1.89%Airbnb 2.46%
$199,000
MLS MDBA547010
436 JOPLIN STREET
Baltimore, MD 21224
Joseph Lee
Townhouse
2 beds2 baths1,304 sq.ft.
CAP RATE
Trad. 2.22%Airbnb 0.00%
$209,000
MLS MDBA546402
703 DOVER STREET
Baltimore, MD 21230
Barre Circle
Townhouse
2 beds2 baths1,008 sq.ft.
CAP RATE
Trad. 3.09%Airbnb 1.04%
Top Performing Baltimore Properties
$135,000
MLS MDBA543240
418 N BRADFORD STREET
Baltimore, MD 21224
Patterson Place
Townhouse
2 beds3 baths1,200 sq.ft.
CAP RATE
Trad. 7.29%Airbnb 7.91%
$209,900
MLS MDBA546344
2929 KESWICK ROAD
Baltimore, MD 21211
Jones Falls Area
Townhouse
3 beds1 baths1,068 sq.ft.
CAP RATE
Trad. 4.56%Airbnb 7.91%
$198,880
MLS MDBA542090
2026 JEFFERSON STREET
Baltimore, MD 21205
Middle East
Townhouse
3 beds3 baths0 sq.ft.
CAP RATE
Trad. 6.32%Airbnb 7.84%
$434,900
MLS MDBA532458
1400 BATTERY AVE
Baltimore, MD 21230
Federal Hill
Townhouse
4 beds3 baths0 sq.ft.
CAP RATE
Trad. 2.29%Airbnb 7.83%
Recently Sold Homes in Baltimore, MD
$0
MLS
807 E COLD SPRING LN
Baltimore, MD 21212
Wilson Park
Single Family Residential
2 beds1 baths840 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$0
MLS
7004 LANCASTER RD
Baltimore, MD 21207
Seton Business Park
Single Family Residential
3 beds1 baths1,216 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$0
MLS
4564 DERBY MANOR DRIVE
Baltimore, MD 21215
Parklane
Single Family Residential
3 beds1 baths1,144 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$0
MLS
3807 W COLD SPRING LN
Baltimore, MD 21215
Dolfield
Single Family Residential
3 beds2 baths1,234 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
$184,900
MLS MDBA533120
2807 ALLENDALE ROAD
Baltimore, MD 21216
Garwyn Oaks
Multi Family
0 beds0 baths2,420 sq.ft.
CAP RATE
Trad. 7.67%Airbnb N/A
$219,000
MLS MDBA2000178
505 MCMECHEN STREET
Baltimore, MD 21217
Upton
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. 7.30%Airbnb N/A
$275,000
MLS MDBC515776
3613 OLD ANNAPOLIS ROAD
Baltimore, MD 21227
Brooklyn
Multi Family
0 beds0 baths1,776 sq.ft.
CAP RATE
Trad. 5.94%Airbnb N/A
$499,000
MLS MDBA538844
1301 ANDRE STREET
Baltimore, MD 21230
Locust Point
Multi Family
0 beds0 baths5,283 sq.ft.
CAP RATE
Trad. 5.71%Airbnb N/A
Homes Below Median Price in the Baltimore, MD Real Estate Market
$135,000
MLS MDBA543240
418 N BRADFORD STREET
Baltimore, MD 21224
Patterson Place
Townhouse
2 beds3 baths1,200 sq.ft.
CAP RATE
Trad. 7.29%Airbnb 7.91%
$209,900
MLS MDBA546344
2929 KESWICK ROAD
Baltimore, MD 21211
Jones Falls Area
Townhouse
3 beds1 baths1,068 sq.ft.
CAP RATE
Trad. 4.56%Airbnb 7.91%
$198,880
MLS MDBA542090
2026 JEFFERSON STREET
Baltimore, MD 21205
Middle East
Townhouse
3 beds3 baths0 sq.ft.
CAP RATE
Trad. 6.32%Airbnb 7.84%
$434,900
MLS MDBA532458
1400 BATTERY AVE
Baltimore, MD 21230
Federal Hill
Townhouse
4 beds3 baths0 sq.ft.
CAP RATE
Trad. 2.29%Airbnb 7.83%
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
$67 per night
$120 per night
Entire home/apt · 1 bed
Charm in Charm City-One Bedroom Apt
431
$198 per night
$58 per night
Baltimore, MD Homes for Rent
$1,450
MLS MDBA547154
5336 CORDELIA AVENUE
Baltimore, MD
Arlington
Townhouse
3 beds2 baths1,198 sq.ft.
$1,525
MLS MDBA547136
439 FREEMAN STREET
Baltimore, MD
Brooklyn
Townhouse
3 beds2 baths1,440 sq.ft.
$1,525
MLS MDBA547124
427 S AUGUSTA AVENUE
Baltimore, MD
Irvington
Townhouse
3 beds2 baths1,494 sq.ft.
$1,395
MLS MDBA547106
6554 PARNELL AVENUE
Baltimore, MD
Saint Helena
Townhouse
2 beds2 baths885 sq.ft.
Baltimore, MD Open Houses
Open 2:30 PM to 4:30 PM
$349,900
MLS MDBA546752
3006 ABELL AVENUE
Baltimore, MD 21218
Abell
Townhouse
3 beds3 baths2,130 sq.ft.
CAP RATE
Trad. 1.89%Airbnb 2.46%
Open 12 PM to 2:30 PM
$349,900
MLS MDBA546550
808 S BOND STREET #D
Baltimore, MD 21231
Fells Point
Condo/Coop
2 beds3 baths1,495 sq.ft.
CAP RATE
Trad. 1.95%Airbnb 0.96%
Open 12 PM to 2 PM
$199,900
MLS MDBA543860
913 S DECKER AVENUE
Baltimore, MD 21224
Canton
Townhouse
2 beds1 baths760 sq.ft.
CAP RATE
Trad. 5.62%Airbnb 3.61%
Open 12 PM to 3 PM
$289,900
MLS MDBA546660
3703 PARKSIDE DRIVE
Baltimore, MD 21206
Belair-Parkside
Single Family Residential
3 beds2 baths1,985 sq.ft.
CAP RATE
Trad. 2.75%Airbnb 7.42%
Best Baltimore Neighborhoods for Buying Investment Property
86%
Mashmeter
property price
$254,900
Median
cap rate
6.79%
Traditional
12.71%
Airbnb
rental income
$1,443
Traditional
$2,699
Airbnb
homes for sale
3
occupancy rate
50%
Airbnb
55%
Mashmeter
property price
$558,642
Median
cap rate
3.82%
Traditional
6.37%
Airbnb
rental income
$1,778
Traditional
$2,967
Airbnb
homes for sale
0
occupancy rate
50%
Airbnb
85%
Mashmeter
property price
$184,900
Median
cap rate
14.72%
Traditional
17.96%
Airbnb
rental income
$2,268
Traditional
$2,768
Airbnb
homes for sale
0
occupancy rate
50%
Airbnb
85%
Mashmeter
property price
$255,250
Median
cap rate
6.87%
Traditional
12.34%
Airbnb
rental income
$1,462
Traditional
$2,625
Airbnb
homes for sale
2
occupancy rate
49%
Airbnb
82%
Mashmeter
property price
$160,000
Median
cap rate
16.32%
Traditional
18.16%
Airbnb
rental income
$2,176
Traditional
$2,421
Airbnb
homes for sale
1
occupancy rate
49%
Airbnb
All Baltimore Neighborhoods