Population Demographics
- Baltimore has a population of 2,662,975, with 1,000,405 households
- Washington D. C. has a population of 4,140,208, with 1,537,915 households
- There are 31.7% renters in Baltimore, compared to 68.3% of those who own their homes.
- There are 33.8% renters in Washington D.C., compared to 66.2% of those who own their homes.
- Owner vacancy rates are in Baltimore are 2%, compared to 6.98% nationally
- 34% of all properties in Washington D.C. are rental properties
Baltimore Community Statistics
- The median age is 36 years old
- Owner average household size is 2.71, compared to 2.32 for renters
- Median household income is $65,424, compared to $52,175 for all adult U.S. Residents
- Per capita income is $32,889 locally, compared to $27,466 for all adult U.S. Residents
- 51.5% of all housing in Baltimore is valued at $300,000 or more
Washington D.C. Community Statistics
- The median age is 37.6 years old
- Owner average household size is 2.77, compared to 2.37 for renters
- Median household income is $83,807, compared to $52,175 for all adult U.S. Residents
- Per capita income is $41,170 locally, compared to $27,466 for all adult U.S. Residents
- 78.8% of all housing in Washington D.C. is valued at $300,000 or more
Interesting Facts about the National Real Estate Market
- An estimated 1.5 million properties currently in foreclosure will eventually be rental properties.
- With an 8% ROI, rental properties are attracting huge numbers of first time investors.
- Many locations in the U.S., including Maryland and Washington D.C., have seen rental rates rise in the first quarter of 2014 by 4% or more.
Statistics on Baltimore and Washington D.C. Real Estate Markets
- In 2012, the average monthly rent amount in Maryland was $1,170, compared to $1,548 in Washington, D.C.
- Baltimore has a low renter vacancy rate of only 7.99%, compared to a 7% rate in Washington D.C.
- Baltimore Residents pay on average about 19.75% of their annual household income in rent, whereas Washington D.C. residents pay 30% or more.
- Baltimore, Washington D.C. and other cities in Maryland are prime locations to purchase investment property.
- As of 2013, 33.65% of Baltimore residents were renters, compared to 36.98% of renters in the U.S.
- As of 2013, 36.2% of Washington D.C. residents were renters, compared to 36.98% of renters in the U.S.