Department of Numbers

Baltimore Maryland Residential Rent and Rental Statistics

The median monthly gross residential rent in Baltimore, MD (the Baltimore-Towson metro area) was $1,184 in 2015 according to the Census ACS survey.1 Average gross rent in Baltimore was $1,187 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Baltimore median and average rent data will be released in September of 2017.

Data is also available below for Baltimore rental vacancy rates, Baltimore rent as a percent of median income and the fraction of renters in Baltimore.

Show dollars as: Nominal Real

Real Gross Rent in Baltimore Maryland (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Maryland Median Gross Rent $1,278 +3.40% +8.95%
Baltimore, MD Median Gross Rent $1,184 +2.07% +8.42%

Baltimore, MD Real Gross Rent Trends

At $1,184, real median gross rent in Baltimore was at its highest level in 2015 since the series began in 2005. At $1,187, real average gross rent in Baltimore was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Baltimore: Baltimore MD Median, Baltimore MD Average, Maryland Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Baltimore

Date US
Median
Maryland
Median
Baltimore, MD
Median
Baltimore, MD
Average
2015 $959 $1,278 $1,184 $1,187
2014 $930 $1,236 $1,160 $1,156
2013 $898 $1,201 $1,124 $1,139
2012 $886 $1,173 $1,092 $1,107
2011 $887 $1,174 $1,092 $1,101
2010 $901 $1,191 $1,104 $1,114
2009 $905 $1,190 $1,126 $1,130
2008 $920 $1,199 $1,132 $1,144
2007 $874 $1,107 $1,034 $1,036
2006 $883 $1,103 $1,036 $1,023
2005 $858 $1,050 $962 $953

Baltimore Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Baltimore Maryland was 6.00% according to Census ACS data.

Rental Vacancy Rate in Baltimore Maryland

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Maryland 5.65% -1.18% -1.34%
Baltimore, MD 6.00% -0.60% -1.09%

Trends in Baltimore, MD Rental Vacancy Rate

The rental vacancy rate in Baltimore peaked in 2007 at 8.91%. Since then it has fallen by 2.91% to 6.00%. Data records for this series originated in 2005. From a 2013 post peak low of 5.89%, the rental vacancy rate has increased by 0.11%.

Rental Vacancy Rate: Baltimore MD, Maryland, US

Rental vacancy rate in Maryland

Historical Rental Vacancy Rate data for Baltimore

Date US Maryland Baltimore, MD
2015 5.85% 5.65% 6.00%
2014 6.32% 6.83% 6.60%
2013 6.49% 6.96% 5.89%
2012 6.77% 6.99% 7.09%
2011 7.40% 7.10% 6.17%
2010 8.17% 7.53% 6.76%
2009 8.43% 9.09% 8.23%
2008 7.86% 8.81% 7.79%
2007 7.87% 8.78% 8.91%
2006 7.70% 7.64% 8.22%
2005 7.74% 6.14% 6.29%

Rent as a Fraction of Income

Using median household income data for Baltimore, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Baltimore, median monthly gross rent as a fraction of median household income was 19.59% in 2015 according to the ACS.

Baltimore Maryland Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Maryland 20.22% +0.07% +0.48%
Baltimore, MD 19.59% +0.02% +0.08%

Trends in Baltimore, MD Rent as a Fraction of Income

The fraction of median Baltimore household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 19.84%. Since then it has fallen by 0.25% to 19.59%.

Fraction of Income towards Rent: Baltimore MD, Maryland, US

Percent of median household income going towards median monthly gross rent in Baltimore Maryland

Historical Data for Annual Rent as a Fraction of Income in Baltimore Maryland

Date US Maryland Baltimore, MD
2015 20.63% 20.22% 19.59%
2014 20.89% 20.15% 19.57%
2013 20.78% 20.03% 19.84%
2012 20.65% 19.74% 19.51%
2011 20.70% 19.76% 19.67%
2010 20.50% 19.71% 19.40%
2009 20.12% 19.19% 19.23%
2008 19.00% 18.27% 18.40%
2007 18.66% 17.63% 17.60%
2006 18.90% 17.55% 17.60%
2005 18.89% 17.36% 17.05%

Renter Fraction in Baltimore Maryland

You can calculate the renter fraction in Baltimore in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Baltimore as a fraction of total Baltimore households. In 2015 34.39% of households were renters according to Census ACS data.

Baltimore Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Maryland 34.06% -0.05% +0.52%
Baltimore, MD 34.39% -0.11% +0.28%

Trends in the Baltimore, MD Renter Fraction

The Baltimore household renter fraction peaked in in 2014 at 34.50% and is now 0.11% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Baltimore MD, Maryland, US

Fraction of renters in Baltimore

History of Baltimore Renter Fraction

Date US Maryland Baltimore, MD
2015 36.97% 34.06% 34.39%
2014 36.90% 34.11% 34.50%
2013 36.50% 33.53% 34.06%
2012 36.09% 33.54% 34.11%
2011 35.42% 32.66% 33.22%
2010 34.65% 32.96% 34.01%
2009 34.13% 31.44% 31.99%
2008 33.36% 30.53% 32.15%
2007 32.80% 30.08% 30.89%
2006 32.73% 30.57% 31.29%
2005 33.10% 31.02% 31.57%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.