Department of Numbers

Maryland Residential Rent and Rental Statistics

The median monthly gross residential rent in Maryland was $1,314 in 2016 according to the Census ACS survey.1 Average gross rent was $1,302 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Maryland median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Maryland (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Maryland Median Gross Rent $1,314 +1.47% +7.97%

Maryland Real Gross Rent Trends

At $1,314, real median gross rent in Maryland was at its highest level in 2016 since the series began in 2005. At $1,302, real average gross rent in Maryland was at its highest level in 2016 since the series began in 2005.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Maryland

Date US Median Maryland Median Maryland Average
2016 $981 $1,314 $1,302
2015 $972 $1,295 $1,297
2014 $942 $1,252 $1,260
2013 $910 $1,217 $1,227
2012 $898 $1,189 $1,211
2011 $898 $1,189 $1,205
2010 $912 $1,207 $1,214
2009 $916 $1,206 $1,220
2008 $932 $1,215 $1,227
2007 $885 $1,122 $1,135
2006 $895 $1,118 $1,118
2005 $869 $1,064 $1,060

Maryland Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Maryland was 5.54% according to Census ACS data.

Rental Vacancy Rate in Maryland

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Maryland 5.54% -0.11% -1.42%

Trends in Maryland Rental Vacancy Rate

The rental vacancy rate in Maryland peaked in 2009 at 9.09%. Since then it has fallen by 3.55% to 5.54%. Data records for this series originated in 2005.

Rental Vacancy Rate: Maryland, US

Rental vacancy rate in Maryland

Historical Rental Vacancy Rate data for Maryland

Date US Maryland
2016 5.89% 5.54%
2015 5.85% 5.65%
2014 6.32% 6.83%
2013 6.49% 6.96%
2012 6.77% 6.99%
2011 7.40% 7.10%
2010 8.17% 7.53%
2009 8.43% 9.09%
2008 7.86% 8.81%
2007 7.87% 8.78%
2006 7.70% 7.64%
2005 7.74% 6.14%

Maryland Rent as a Fraction of Income

Using median household income data for Maryland, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Maryland, median monthly gross rent as a fraction of median household income was 19.97% in 2016 according to the ACS.

Maryland Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Maryland 19.97% -0.25% -0.06%

Trends in Maryland Rent as a Fraction of Income

The fraction of median Maryland household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 20.22%. Since then it has fallen by 0.25% to 19.97%.

Fraction of Income towards Rent: Maryland, US

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

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

Date US Maryland
2016 20.43% 19.97%
2015 20.63% 20.22%
2014 20.89% 20.15%
2013 20.78% 20.03%
2012 20.65% 19.74%
2011 20.70% 19.76%
2010 20.50% 19.71%
2009 20.12% 19.19%
2008 19.00% 18.27%
2007 18.66% 17.63%
2006 18.90% 17.55%
2005 18.89% 17.36%

Renter Fraction in Maryland

You can calculate the renter fraction in Maryland 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 Maryland as a fraction of total Maryland households. In 2016 34.11% of households were renters according to Census ACS data.

Maryland Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Maryland 34.11% +0.05% +0.58%

Trends in the Maryland Renter Fraction

The Maryland household renter fraction peaked in in 2014 at 34.11% and is now 0.00% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Maryland, US

Fraction of renters in Maryland

History of Maryland Renter Fraction

Date US Maryland
2016 36.88% 34.11%
2015 36.97% 34.06%
2014 36.90% 34.11%
2013 36.50% 33.53%
2012 36.09% 33.54%
2011 35.42% 32.66%
2010 34.65% 32.96%
2009 34.13% 31.44%
2008 33.36% 30.53%
2007 32.80% 30.08%
2006 32.73% 30.57%
2005 33.10% 31.02%

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.