Baltimore is the capital of Maryland and is just forty-five minutes from Washington, Baltimore is rated by Bigger Pockets and RealtyTrac as the number 1 grossing rental market in the entire nation. Baltimore is the 4th largest “commuter hub” in the US, over 900,000 people commute into Baltimore every day from the Baltimore suburbs and a further 200,000 commute from Washington, DC and Virginia.
Baltimore’s economy makes it one of the best places to invest in real estate. The appreciation of real estate in Baltimore is substantially higher than the national average and rents are higher than the national average, yet property prices themselves are lower than the national average.
Baltimore’s millennial population has grown 16% in the last 5 years and over 2.7 million people reside in the region making it the 20th largest metro in the country. Baltimore is known for being among the strongest economies of all US cities. The average salary for employees is high, which is a testament to the quality of the employers in the city. This includes the likes of Under Armour, Morgan Stanley, T. Rowe Price, Pepco and Johns Hopkins Hospital.
The city’s booming economy also has a number of large-scale projects to thank, including the development of the Port of Baltimore, new school constructions and infrastructure initiatives. Alongside this, Baltimore has seen a growth in conversion projects – taking former office and industrial buildings and renovating them for mixed-use as retail outlets and multi-family rentals.
The city is in the midst of a $10 billion investment initiative funded by both the private and public sectors to revitalise the city. Providing important job opportunities and improving quality of life, this funding makes Baltimore a truly great place to live and work.
The federal government has recently moved one of their offices to Baltimore, due to the high costs of properties in Washington and Baltimore’s close proximity to the nations capitol this is pushing demand for Baltimore Real Estate.
Baltimore: an incredible city and a prime investment opportunity
As a quintessential all-American city, there’s a buzz about Baltimore that’s both infectious and hard to ignore. With its own unique vibe that welcomes families of all shapes and sizes, Baltimore is a popular choice for renters and a place of great opportunity for those considering property investment in Baltimore.
Whether it’s the incredible museums and attractions, the iconic music scene or the world-famous Inner Harbour, there is plenty to love about Baltimore. Even just soaking up the atmosphere within its hip and historical neighbourhoods is a popular way to pass the time.
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