Baltimore rents and rental comps

Name: Baltimore, MD rental market data
Creator: PropMetrics

The median asking rent across 20 Baltimore zip codes is $1,575/month, down 3.3% from a year ago.

Affordable entry points and strong healthcare employment anchored by Johns Hopkins. Neighborhood selection isn't just important here, it's the whole game. Two blocks in the wrong direction changes everything about your rental comps.

Median Asking Rent

$1,575

Rent Change (YoY)

-3.3%

Avg Days on Market

Active Rental Listings

3,696

Median List Price

$235,000

Median Asking Rent Over Time

Average across 20 zip codes

12 months+1.2%

Median Asking Rent by ZIP Code

Rental Listings by ZIP Code

ZIP	Median Rent	YoY Growth	$/Sqft	Avg DOM	Listings
21211	$2,175/mo	+14.8%	$1.92	39	92
21210	$2,000/mo	-4.8%	$2.00	72	29
21224	$2,000/mo	-4.8%	$1.66	47	318
21231	$2,000/mo	-9.1%	$1.90	49	186
21230	$1,978/mo	-5.8%	$1.88	46	299
21205	$1,700/mo	0.0%	$1.46	48	96
21213	$1,600/mo	+6.7%	$1.33	49	197
21202	$1,550/mo	-3.1%	$1.99	51	318
21209	$1,550/mo	-9.8%	$1.81	32	76
21229	$1,500/mo	-4.8%	$1.51	37	181
21223	$1,450/mo	+3.6%	$1.36	48	196
21207	$1,449/mo	-2.0%	$1.97	25	150
21201	$1,400/mo	+0.4%	$2.09	89	185
21217	$1,400/mo	-2.4%	$1.49	51	323
21218	$1,400/mo	-12.5%	$1.49	48	300
21214	$1,395/mo	-12.8%	$1.41	67	39
21216	$1,320/mo	-5.0%	$1.36	48	167
21215	$1,300/mo	-11.9%	$1.52	48	214
21225	$1,299/mo	+7.4%	$1.77	21	170
21206	$1,220/mo	-9.6%	$1.61	29	160

Comps for any address in Baltimore

Type the address, get the comps. No setup.

Median Asking Rent by Bedroom

Unit Size	Median Rent	$/Sqft
Studio	$1,050/mo	$2.49/sqft
1 Bedroom	$1,150/mo	$1.86/sqft
2 Bedroom	$1,549/mo	$1.61/sqft
3 Bedroom	$1,917/mo	$1.46/sqft
4 Bedroom	$2,250/mo	$1.36/sqft

Aggregated median across all Baltimore zip codes with available data.

For-Sale Listings by ZIP Code

ZIP	Median List Price	YoY Change	$/Sqft
21210	$597,000	+1.4%	$231.54
21209	$435,000	+9.0%	$209.69
21231	$339,500	-0.1%	$233.20
21230	$335,000	-1.4%	$232.84
21207	$329,900	-3.0%	$189.94
21211	$325,000	0.0%	$222.22
21214	$299,999	-7.7%	$178.06
21224	$291,990	-2.6%	$202.84
21201	$279,900	+1.8%	$200.62
21206	$255,000	-8.6%	$160.75
21202	$215,000	-15.7%	$190.93
21225	$214,999	+4.9%	$166.33
21229	$200,000	0.0%	$138.89
21218	$199,997	-11.1%	$149.67
21215	$185,000	-7.5%	$118.25
21216	$159,000	+1.3%	$111.96
21205	$155,000	-13.8%	$130.21
21213	$145,000	-12.1%	$121.90
21217	$134,900	-18.2%	$110.37
21223	$89,900	-5.4%	$96.54

HUD Fair Market Rents

Unit Size	Fair Market Rent	Median Asking Rent	Difference
Studio	$1,430/mo	$1,050/mo	-27%
1 Bedroom	$1,590/mo	$1,150/mo	-28%
2 Bedroom	$1,950/mo	$1,549/mo	-21%
3 Bedroom	$2,480/mo	$1,917/mo	-23%
4 Bedroom	$2,740/mo	$2,250/mo	-18%

HUD publishes Fair Market Rents once a year for the Baltimore metro area. Local housing authorities use them to set Section 8 voucher payment standards, usually 90% to 110% of the FMR.

About the Baltimore rental market

The median asking rent across Baltimore, MD sits at $1,575/month, pulled from active rental listings in 20 zip codes. That's down 3.3% from a year ago.

Rents aren't uniform across the city. ZIP 21211 tops the list at $2,175/month. ZIP 21206 comes in lowest at $1,220/month. That's a 78% spread between the top and bottom zip codes, which is wide. City-wide averages won't tell you much about a specific property here.

A 2-bedroom rents for $1,549/month at the median. 1-bedrooms run about $1,150. 3-bedrooms come in around $1,917.

Listings take longer here. The average is 47 days on market, which gives renters more room to negotiate and means landlords should price carefully.

Gross rent-to-value lands around 8.0% ($1,575/month rent on a $235,000 median price). Middle of the pack for cash-flow markets.

HUD's Fair Market Rent for a 2-bedroom in the Baltimore metro is $1,950/month. Asking rents come in about 19% below the federal benchmark, which can make Section 8 properties competitive here.

Baltimore is one of the most affordable large cities on the East Coast. Johns Hopkins (university and hospital system) is the economic anchor. Federal Hill, Canton, and Fells Point are premium and pull young professionals. Pigtown, Highlandtown, and Hampden are in various stages of gentrification. Parts of West and East Baltimore are still very challenged. The gap between a great investment and a bad one is measured in blocks, not miles. Cash flow potential is real in the right areas. Maryland's ground rent system is unique and worth understanding before you buy. Real opportunity here for investors willing to learn the geography.

These numbers are city-wide averages. If you're pricing a specific property in Baltimore, pull comps from the same zip code. The spread is usually bigger than people expect.