Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 602,495, 238,436 total housing units (homes and apartments), and a median house value of $174,346, Baltimore real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Baltimore homes are still considered rather expensive.
Row houses and other attached homes are the single most common housing type in Baltimore, accounting for 52.29% of the city's housing units. Other types of housing that are prevalent in Baltimore include large apartment complexes or high rise apartments ( 22.13%), single-family detached homes ( 14.06%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.38%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
The most prevalent building size and type in Baltimore are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The city has a mixture of owners and renters, with 45.51% owning and 54.49% renting.
The housing in Baltimore was primarily built before 1939 ( 46.38%), making the housing stock in Baltimore some of the oldest overall in America, although there is a range of ages of homes in Baltimore. The next most important housing age is between 1940-1969 ( 34.57%), followed by between 1970-1999 ( 13.80%). There's also some housing in Baltimore built between 2000 and later ( 5.25%).
Vacant housing appears to be an issue in Baltimore. Fully 19.04% of the housing stock is classified as vacant. Left unchecked, vacant Baltimore homes and apartments can be a drag on the real estate market, holding Baltimore real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Baltimore's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Baltimore during the period has been just 1.48%, which is lower than 70% of US communities.
Over the last year, Baltimore appreciation rates have trailed the rest of the nation. In the last twelve months, Baltimore's appreciation rate has been 3.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Baltimore were at 0.71%, which equates to an annual appreciation rate of 2.89%.
Relative to Maryland, our data show that Baltimore's latest annual appreciation rate is higher than 50% of the other cities and towns in Maryland.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Baltimore differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Baltimore - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Baltimore real estate investment or home purchase decisions.
|$874,001 - $1,166,000||1.0|
|$583,001 - $874,000||2.9|
|$466,001 - $583,000||3.3|
|$350,001 - $466,000||7.0|
|$233,001 - $350,000||16.5|
|$116,001 - $233,000||37.3|
|$58,001 - $116,000||22.4|
|$0 - $58,000||8.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
2000 Q1 - 2020 Q2
|* 10 is highest|
|AGE OF Baltimore HOMES|
|2000 or Newer||5.2|
|1970 - 1999||13.8|
|1940 - 1969||34.6|
|1939 or Older||46.4|
|TYPE OF Baltimore HOMES|
|Small Apt. Buildings||11.4|
|SIZE OF Baltimore HOMES|
|5 or more bedrooms||3.48|