18 / 100

Baltimore city, MD

RANK #818 / 996  ·  POP 584,548  ·  MD

PROJECTED GROWTH: -0.7%

Baltimore city is losing people and economic momentum. This metro faces significant structural headwinds.

[01] Why Baltimore city?

Known as "Charm City," Baltimore, Maryland, is recognized for its distinct neighborhoods and rich history. The city is an independent entity, not part of any county, and sits about an hour north of Washington, D.C. Commuters have various public transportation options, including buses, light rail, and the Metro SubwayLink, with MARC train service connecting to Washington, D.C. in as little as 35 minutes. Baltimore offers numerous outdoor recreation opportunities, from kayaking in the Inner Harbor to exploring parks like Druid Hill Park and Federal Hill Park, which provide scenic views and walking trails.

Life in Baltimore features a mix of urban and community living, with many residents residing in row homes. The city's economy is undergoing transformation, with significant investments in commercial and residential sectors. Educational institutions like Johns Hopkins University are major employers. Baltimore City Public Schools offer various options, including traditional, charter, and private schools. While economic concerns regarding housing and utility costs are present, initiatives are underway to foster development and support local businesses.

[02] Market Snapshot

Housing Ratio
2.3x

Undervalued relative to economy

GDP Growth
+2.6%

Below national median

Home Prices
-1.2%

Prices declining

Climate & Terrain
-0.4

Below-average climate & terrain

Price/Rent
10x

Strong rental yield

Housing looks undervalued at 2.3x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Baltimore city U.S. National

The Numbers

DEMOGRAPHICS
Population
584,548
-1.29% YoY
Median Household Income
$58,349
Median Home Value
$202,900
-1.2% 12mo
Median Rent
$1,235
Average Annual Pay
$82,818
+3.7% YoY
Employment
348,184
+1.3% YoY
Income-to-Home-Value
0.2876
More affordable than average
Migration Inflow
3.56%
of pop. from another state

Market Activity

REAL ESTATE
Building Permits (2024)
1,273
Single-Family Permits
165

[05] Capital Investment

$19,000M
TOTAL
PROJECT AMOUNT STATUS
Baltimore Peninsula Development
Various (including Under Armour, Rye Street Tavern, Sagamore Spirit distillery, Roost hotel)
$18,000M Under Construction
Penn Station Revitalization and Expansion
Amtrak, Cross Street Partners, Beatty Developers
$500M Under Construction
Pimlico Race Course Redevelopment
State of Maryland
$400M Planned
Tradepoint Atlantic Amazon Fulfillment Center
Amazon
$50M Operating
Key Highway South Urban Renewal Plan Redevelopment
Baltimore Development Corporation (seeking proposals)
$50M Proposed

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +2.6% 48 percentile
Population Growth -1.3% 2 percentile
Income Growth +7.8% 33 percentile
Vacancy Rate 2.1% 7 percentile
Home Price Change -1.2% 20 percentile
Rent Growth +2.3% 38 percentile
Price/Rent 10x 91 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Baltimore city, MD a good place to move to?

Baltimore city has a Boom Town Index score of 18/100, ranking #818 among 996 U.S. counties. With job growth at +1.3% and a median household income of $58,349, it faces some economic headwinds compared to faster-growing counties.

Is Baltimore city affordable?

The median home value in Baltimore city is $202,900 with median rent at $1,235/month. The income-to-home-value ratio is 0.2876, which is more affordable than the national average.

Is Baltimore city growing or shrinking?

Population growth: -1.3% year-over-year. Job growth: +1.3%. Home values changed -1.2% in the past 12 months.

Are people moving to Baltimore city?

Yes — 3.56% of Baltimore city's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Kootenai County, ID 28 Knox County, TN 28 Coffee County, AL 28 Limestone County, AL 28 Hamilton County, TN 28 Doña Ana County, NM 28 Wood County, OH 28 Bulloch County, GA 28