Are you looking for a prime market to invest in? The city of Baltimore is an ideal option and should be at the top of your list.
With its thriving businesses, safe neighborhoods, economically strong markets, and increasingly vibrant cultural scenes, there are plenty of great reasons why investing in this city can bring about maximum returns for anyone looking to buy investment property in Baltimore.
Plenty of viable investments, from single-family homes to commercial properties, could yield excellent earnings over time.
In this blog post, we’ll take a closer look at all these factors so you can decide if Baltimore is the perfect place to invest in. You'll also learn about the significant factors that make this area ripe for high-ROI investments.
Why Invest in Baltimore, Maryland?
There are many compelling reasons to invest in Baltimore rental properties, such as:
Strong Local Economy
Baltimore’s local economy is one of the strongest in the country. With low unemployment and steady job growth, it's an attractive place for people looking to settle down.
With so much industry - from steel processing and automobile manufacturing, to transportation and healthcare - plenty of good jobs are available to people.
Seafood Lover's Paradise
With its proximity to the Chesapeake Bay, Baltimore is a seafood lover's paradise. From lobster rolls to crab cakes, oysters, and more, you can find something delicious at almost any time of day.
Plus, with the city's growing cocktail and craft beer scene making waves in the region, there are plenty of ways to enjoy fresh seafood!
Booming Tourism
At the heart of Baltimore's local economy is its tourism sector. The area sustains a flow of visitors throughout the year thanks to its numerous attractions, such as the Inner Harbor, Fells Point, and Camden Yards. These destinations have become significant tourist attractions for locals and travelers from around the globe.
This means that in addition to having a stable economy, there’s also potential for rental income from tourism. Investing in vacation rentals can be lucrative and allow investors to capitalize on the city's vibrant tourism sector.
Population Growth
Baltimore has seen impressive population growth in recent years. This shows a lot of interest in living and investing in the area. All signs point to this trend continuing in coming years as more people are attracted to the city's many offerings.
With such an influx of people, rental properties in Baltimore are sure to remain in solid demand, making it an attractive city for investors.
Great Climate
The climate in Baltimore is ideal for those looking to escape the cold weather up north. The city enjoys mild winters with plenty of sunshine and moderate temperatures that make it perfect for snowbirds looking to enjoy a little warmth during their stay.
With an average temperature of 68°F (20°C) in the winter, your rental property could provide a cozy, inviting home away from home. Along with mild winters, Baltimore also offers warm summers with an average temperature of 75°F (24°C).
Affordable Real Estate
Baltimore has some of the most affordable real estate in the country, with a median home price of $165,000 and an average rent of $1,500 per month for a three-bedroom house.
It's possible to purchase or rent a property for significantly less than other East Coast cities like New York City or Washington DC. This makes Baltimore one of the best areas to invest in for those looking to get a good deal on rental property.
Landlord-Friendly Laws
In Baltimore, the rental laws are very landlord-friendly. There is no rent control in this city, meaning landlords may increase rent prices as they see fit. Additionally, there’s no limit to the security deposit amount a landlord can collect from tenants.
Furthermore, the eviction process is relatively straightforward, allowing landlords to evict tenants without too much hassle and paperwork. This makes investing in rental properties in Baltimore an attractive option for those looking for a low-maintenance investment opportunity with high returns.
Good Education
Baltimore is renowned for its excellent school districts, with options available from elementary to high school.
College-level institutions are easy to come by, too. Baltimore boasts a handful of world-class public universities and colleges, including Loyola University, the University of Maryland, and Johns Hopkins.
This makes it an attractive option for families looking to settle in the area and invest in rental properties.
Plenty of Attractions
Baltimore has a wealth of attractions for locals and visitors alike. From the world-renowned Inner Harbor to the iconic National Aquarium, there’s something for everyone.
Other popular attractions include the Maryland Science Center, The Walters Art Museum, and Fort McHenry National Monument and Historic Shrine. Sports fans will enjoy cheering for their favorite teams at Oriole Park at Camden Yards or at the M&T Bank Stadium.
Baltimore also offers plenty of outdoor activities that can be enjoyed year-round. From hiking in the beautiful Patapsco Valley State Park to kayaking on Middle Branch, there's no shortage of outdoor adventure.
The Inner Harbor promenade provides gorgeous water views for those looking for a relaxing outing. Nearby, visitors can also explore Fell's Point, Federal Hill Park, and Clipper Mill Pond.
Bottom Line
Baltimore offers a wealth of attractive benefits for real estate investors. With its strong job market, high quality of life, and affordable housing prices, it’s an ideal place to invest in real estate.
With a great variety of properties to choose from and excellent potential for both short-term and long-term investments, Baltimore is perfect for real estate investors looking to maximize their returns.
If this is your first time investing in Baltimore real estate, don’t hesitate to contact American Dream Realty and Management! Professional help can make investing in Baltimore real estate easier and more successful.