menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Baltimore, MD Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Baltimore, MD Housing Market Trends

With a population of 569,931, 247,232 total housing units (homes and apartments), and a median house value of $269,408, 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 50.63% of the city's housing units. Other types of housing that are prevalent in Baltimore include large apartment complexes or high rise apartments ( 24.14%), single-family detached homes ( 14.65%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.40%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Baltimore primarily live in small (one, two or no bedroom) row houses and other attached homes. Baltimore has a mixture of owner-occupied and renter-occupied housing.

The housing in Baltimore was primarily built before 1939 ( 41.72%), 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 ( 36.13%), followed by between 1970-1999 ( 14.29%). There's also some housing in Baltimore built between 2000 and later ( 7.86%).

Vacant housing appears to be an issue in Baltimore. Fully 15.78% 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 Home Appreciation Rates

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 5.24%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Baltimore's appreciation rate, at 6.55%, has been at or slightly above the national average. In the latest quarter, Baltimore's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

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.

Average Home Values

Median Home Value

$269,408

Baltimore, MD Home Prices
> $1,285,000
$964,001 - $1,285,000
$643,001 - $964,000
$514,001 - $643,000
$386,001 - $514,000
$257,001 - $386,000
$129,001 - $257,000
$64,001 - $129,000
$0 - $64,000
1.4%
1.4%
1.6%
1.6%
5.1%
5.1%
5.5%
5.5%
12.1%
12.1%
23.0%
23.0%
31.1%
31.1%
13.4%
13.4%
7.0%
7.0%
0% 100.0%
% of Homes
Very Low

for Maryland

Average

for nation

Number of Homes And Apartments:

247,232

Baltimore Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,155 / per month

Homeownership Rate

Owners
Renters
46.0%
46.0%
54.0%
54.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
15.8%
15.8%
84.2%
84.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.9%
7.9%
14.3%
14.3%
36.1%
36.1%
41.7%
41.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
14.7%
14.7%
50.6%
50.6%
10.4%
10.4%
24.1%
24.1%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.9%
3.9%
17.9%
17.9%
26.6%
26.6%
38.8%
38.8%
9.5%
9.5%
3.4%
3.4%
0% 100.0%
% of Homes