The Baltimore Story: High Occupancy and Moderate Rent Growth
Baltimore ranks among the nation’s most stable apartment market performers. Occupancy generally remains very solid, and rent growth typically comes in at good but not spectacular levels.
Baltimore ranks among the nation’s most stable apartment market performers. Occupancy generally remains very solid, and rent growth typically comes in at good but not spectacular levels.
WATCH: Baltimore got off to a slow start in 2011 but ended the year with minimal vacancies and with decent (though unspectacular) rent growth, just as the job market heated up again.
Apartment market performances in Washington, DC, and Baltimore usually move in a similar pattern. Unfortunately for Baltimore, the loss of momentum on the pricing front is even a bit more pronounced there than in the neighboring DC market.
One year ago, Baltimore was one of the nation’s top five markets for annual revenue growth. Today? It’s No. 40. But the outlook remains healthy.
Greg Willett and Jay Parsons look at markets that had high expectations going into 2011, but so far have not lived up to the hype.
While neighboring DC gets all the attention, Baltimore slides under the radar as one of the nation’s better-performing apartment markets.
Seven metros posted readings at or above 96 percent thanks to the widespread recovery of the U.S. apartment sector in the first half of 2010.
The recovery of the nation’s apartment market continued at full steam in the 3rd quarter of 2010, according to preliminary data from MPF Research.