With its unique qualities and growth potential, Baltimore, Maryland, is one of the best cities to invest in real estate. Here, you’ll be able to capitalize on benefits ranging from a diversified real estate portfolio to growth potential. No matter what your goals are, Baltimore offers an array of advantages for real estate investors.
Is Baltimore a Good Place to Invest in Real Estate?
Wondering if this city is the right location to invest your time, money and effort? Check out six excellent reasons to invest in Baltimore real estate.
1. Small-Town Feel With Elegant Architecture
Baltimore has a rich history, starting with its founding in 1729. Many of the historic buildings and landmarks have been meticulously preserved over the years, allowing you to step back in time and explore a little of the past everywhere you go. Throughout the city, you’ll be able to discover a unique blend of architectural styles, from the row houses in Federal Hill to the vibrant Victorian homes in Hampden.
2. Unique Housing Opportunities
No matter what kind of housing you’re looking for, you’re sure to find it in Baltimore. There are countless diverse neighborhoods that are filled with historic homes with architectural significance as well as modern condominiums and apartments. Along with the range of housing options, investors will be able to choose from different segments of the market, which include various demographics and preferences.
3. World-Class Educational Institutions
Baltimore is known for its premier educational opportunities, a reputation that draws students, parents, faculty and staff from all around the world — and creates significant demand for rental properties surrounding the campuses. From elementary to high school, there are countless excellent school districts to choose from. There are also several renowned college-level institutions in the area, including Johns Hopkins University, the University of Maryland and Loyola University.
4. Job Opportunities
Whether you envision yourself in health care, education, government or technology roles, Baltimore offers several major employment centers in the city and the surrounding areas. There are also prominent employers like Amazon’s fulfillment centers and the National Security Agency, resulting in a robust job market.
5. Prime East Coast Location
Since Baltimore is located close to major cities like Washington, D.C., Philadelphia and New York City, you’ll be in a prime location for countless excellent business opportunities. You will be able to easily access major cities and markets, allowing you to take advantage of maximized investment returns.
6. Transportation Options
With transportation systems that include buses, light rail and a subway system, you’ll have endless transportation options available. This extensive transportation infrastructure connects to major highways, which benefits the real estate market in the area.
2023 Baltimore Property Investing Forecasts
In 2022, Baltimore, like many other cities, saw big transitions in Real Estate Investments, and 2023 seems to be heading in the same direction. Baltimore has seen a steady increase of median home prices over the years, and like other cities at the beginning of 2023 it has begun to slow down, but is still more expensive than before. In turn this means an increase in average rent, which is about $1,521.
Baltimore’s population is also steady at around 577,000 people and growing, as more young professionals move to the city due to Baltimore’s growing job market. Baltimore’s homes sell for about 40% less than in Washington D.C., which also makes it an attractive option for those working at the nation’s capital.
Baltimore also offers a unique living experience, which is attracting a plethora of people for tourism and permanent living, as it is nicknamed the “City of Neighborhoods”, consisting of hundreds of smaller districts within.
All of these factors lead investors to believe the housing market in Baltimore in 2023 will see an increase in demand. However there are always unforeseen events that can impact the forecast for Baltimore in 2023.
Interested in Investing in Baltimore Real Estate?
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