Baltimore, MD Real Estate Data

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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Baltimore Housing Market Information

With 593,490 people, 238,436 houses or apartments, and a median cost of homes of $175,328, 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 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 1.38%, 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 2.47%, 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 1.15%, which equates to an annual appreciation rate of 4.66%.

Relative to Maryland, our data show that Baltimore's latest annual appreciation rate is lower than 80% 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

 
info

Median Home Value:
$175,328

Baltimore, MD HOME PRICES

> $1,173,000
0.9%
0.9%
$880,001 - $1,173,000
1.0%
1.0%
$587,001 - $880,000
2.9%
2.9%
$469,001 - $587,000
3.3%
3.3%
$352,001 - $469,000
7.0%
7.0%
$235,001 - $352,000
16.5%
16.5%
$117,001 - $235,000
37.3%
37.3%
$59,001 - $117,000
22.4%
22.4%
$0 - $59,000
8.7%
8.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very Low for MD

Value Relative To Nation

Number Of Homes And Apartments:
238,436

Baltimore Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
94.12% 3.25%
7
8
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,456 / per month

Homeownership Rate

Owners
45.5%
45.5%
Renters
54.5%
54.5%
Vacant
19.0%
19.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
5.2%
5.2%
1970 - 1999
13.8%
13.8%
1940 - 1969
34.6%
34.6%
1939 or Older
46.4%
46.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
14.1%
14.1%
Townhomes
52.3%
52.3%
Small Apt. Buildings
11.4%
11.4%
Apt. Complexes
22.1%
22.1%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.4%
3.4%
1 Bedroom
17.3%
17.3%
2 Bedrooms
26.7%
26.7%
3 Bedrooms
39.6%
39.6%
4 Bedrooms
9.5%
9.5%
5 or more bedrooms
3.5%
3.5%
0.0% 100.0%
% OF HOMES