Market Insights | Spring 2023 | Baltimore

February 28, 2023

Baltimore’s multifamily market has seen its record-setting streak of demand, rent growth, and sales activity normalize. Adjusting from all-time highs still leaves the market in fundamentally healthy shape. With a non-stabilized vacancy rate of about 7%, the metro’s vacancy rate aligns with its rate from the close of 2019. Further, developers have remained active in bringing new communities to the area as well with more than 2,000 units expected to open their doors this year.