Are you interested in investing in Baltimore real estate? The city is one of the best locations to invest in. Being the biggest city in Maryland, it features beautiful harbor views, a delectable dining experience, and unique culture and history.
Baltimore city is home to various attractions that make it one of the best places to not only visit, but also to live in. From arts, history, and culture, to shopping, the nightlife, and green spaces, people in Baltimore will surely find a variety of things to keep them entertained.
Baltimore real estate is currently one of the hottest markets in the country. Home to over half a million people, investors will find plenty of opportunities in Baltimore. The population in the city is growing at a steady pace, making it one of the most lucrative places to invest in.
One of the reasons why Baltimore real estate is a hot market is its strong economy. The city has seen steady job growth for the past years, which is one of the reasons why many people are interested in moving to this city.
Over the next ten years, the area is projected to see over 25% job growth, which will essentially draw more residents to the city.
Another reason why it’s a good idea to invest in Baltimore real estate is that the neighborhoods offer affordable housing opportunities. With a median home price that is significantly lower than the national average, many real estate investors will find affordable opportunities in Baltimore.
And with the expected high demand for rentals due to the city’s increasing population, it’s easy to find a profitable investment in this city.
It’s worth noting, however, that not all areas in Baltimore are optimal for investing in rentals. If you want to become a successful investor, it’s vital to find the right location for your investment.
Finding the perfect neighborhoods in Baltimore can be challenging, especially since you need to consider several factors, such as:
- Affordability: Some Baltimore neighborhoods may not be as affordable as others. Depending on your budget, make sure to consider the median home prices in a certain location before you decide to buy an investment property. This way, you’ll have more profit margin, which is an essential factor that can affect your returns.
- Safety: If you want to attract tenants, it’s crucial to buy an investment property in a safe location. Before you buy a rental property, make sure to check the safety of the area. Check the local crime rate and visit the location to ensure that it’s safe for your tenants.
- Amenities: Most tenants want to live in an area where they can access basic amenities, such as dining, shopping, public transportation, schools, medical services, and recreational facilities. The more amenities available within or close to the area, the better it is for your investment.
To help you get started with your search, we’ve listed the best Baltimore neighborhoods for your real estate investment.
Federal Hill
Federal Hill is a tightly-knit urban community in Baltimore that is home to young professionals, young couples, and single individuals. It’s a historic neighborhood located in South Baltimore.
Within walking distance of the Inner Harbor and Downtown Baltimore, Federal Hill is known for Cross Street Market, which offers fresh meats, baked goods, and other produce.
Brooklyn
If you want to invest in an area near trendy shops, restaurants, art centers, and convenience stores, Brooklyn is a great option. What’s more, it features two of the biggest public parks in the city, the Arundel Village Park and Farring-Baybrook Recreation Center.
This neighborhood is ideal for families with children, as well as for young professionals. It also features waterfront views, and residents can easily access recreational facilities such as athletic fields, dance classes, and open-space trails.
Fells Point/Harbor East
Do you prefer an investment property in the south-east Baltimore area? If so, consider the Fells Point/Harbor East neighborhood, which is just a short walk from the world-famous Inner Harbor.
This waterfront neighborhood is also great for families with children. It’s home to various attractions that children would enjoy, including the National Aquarium, the USS Constellation, Fort McHenry, and Maryland Science Center.
Hampden
Hampden is located in north Baltimore, Maryland and is home to several brick-row homes and Victorian-style dwellings. It’s famous for The Avenue, which is a community center that features shops, restaurants, and bars.
This place is best for professionals and single individuals. The neighborhood offers easy access to the Light Rail, which provides transit to the downtown area.
Canton
Canton has seen a fresh urban renewal. This Baltimore area neighborhood is famous for its luxury harbourfront condominiums, as well as the brick and formstone row houses.
Many locals love this area because of it close proximity to art galleries and studios, offices, shops, bars, and restaurants.
It’s also home to the Highlandtown Arts and the Entertainment District, which makes Canton one of Baltimore’s most sought-after neighborhoods.
Mt. Washington
If you prefer to invest in a peaceful area, consider Mt. Washington. This neighborhood features a suburban feel with a mix of urban vitality. It is great for families with children, professionals, as well as retirees who prefer to stay in a quiet and welcoming place.
You can find a variety of small bungalow homes, garden apartments, and large Victorian houses in Mt. Washington. Residents get to enjoy recreational facilities such as boutiques, eateries, parks, salons, and antique stores.
Mt. Vernon
Mt. Vernon is a high-end neighborhood that is home to pristine houses and luxury mansions. This historic neighborhood is best for those who want to target high-end tenants. It’s home to theaters, luxury restaurants, museums, and boutique hotels.
Charles Village
Charles Village is an ethnically and racially diverse Baltimore neighborhood. It’s a favorite place to live for families with kids, young couples, retirees, college students, and professionals. It features Victorian row houses and high rises. It’s also home to John Hopkins University, giving this neighborhood a college-town feel.
Conclusion
If you’re interested in investing in Baltimore, it’s crucial to select the right location for your investment. Finding the best neighborhoods in Baltimore to invest in can be challenging, and it’s important to consider several factors, such as the area’s affordability, safety, and amenities.
Still have questions about which Baltimore neighborhood is right for you? American Dream Realty and Management can help! Contact us today to get started!