{"id":2787,"date":"2022-01-06T14:51:34","date_gmt":"2022-01-06T14:51:34","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=2787"},"modified":"2023-09-21T11:00:43","modified_gmt":"2023-09-21T11:00:43","slug":"baltimore-multifamily-market-report-fall-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/baltimore-multifamily-market-report-fall-2021\/","title":{"rendered":"Baltimore Multifamily Market Report (Fall 2021)"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Charm City Presses On<\/h2>\n\n\n\n<p>The<strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/tag\/baltimore-housing-trends\/\"> Baltimore market is moving forward<\/a><\/strong> and registering record gains, on par with nationwide trends. Rents averaged $1,601 in October, a 1.4% gain on a trailing three-month (T3) basis and up 13.0% year-over-year. Lifestyle rates increased by 1.6% on a T3 basis, outpacing the working-class Renter-by-Necessity uptick of 1.3%. On a year-over-year basis, all submarkets registered growth, but the largest increases occurred in the metro\u2019s suburbs.<\/p>\n\n\n\n<p>The metro\u2019s economy is making gains, with 93,300 jobs added during the 12 months ending in August, a 5.0% uptick over the year. The largest number of new jobs was added to the professional and business sector (24,300 positions, or 6.8% year-over-year). Baltimore is positioned to benefit from its diversified economy, particularly in the rapidly growing trade and transportation and life sciences industries.<\/p>\n\n\n\n<p>Multifamily investment reached nearly $2.2 billion in the first 10 months of 2021, already 48.3% higher than the 2020 total and above any other year on record. Investors targeted both Lifestyle and RBN assets, and sales prices averaged $182,241 per unit, very close to the U.S. figure. Development has slowed, with 4,300 units under construction as of October, though deliveries totaled only 953 units, with the year\u2019s deliveries likely to remain at the lowest level since the late 1990s.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1374-MatrixMultifamilyBaltimoreReport-Fall2021\">Matrix Multifamily Baltimore Report-Fall 2021<\/a><\/strong><\/p>\n\n\n\n<div class=\"wp-block-spacer\" style=\"height: 45px;\" aria-hidden=\"true\">\u00a0<\/div>\n\n\n\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Charm City Presses On The Baltimore market is moving forward and registering record gains, on par with nationwide trends. Rents averaged $1,601 in October, a 1.4% gain on a trailing three-month (T3) basis and up 13.0% year-over-year. Lifestyle rates increased by 1.6% on a T3 basis, outpacing the working-class Renter-by-Necessity uptick of 1.3%. On a [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":2788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,28],"tags":[103,221],"class_list":["post-2787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-news","tag-baltimore","tag-multifamily-outlook-2021"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Baltimore Multifamily Market Report (Fall 2021) - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The Baltimore market is moving forward and registering record gains, on par with nationwide trends.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/baltimore-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baltimore Multifamily Market Report (Fall 2021)\" \/>\n<meta property=\"og:description\" content=\"The Baltimore market is moving forward and registering record gains, on par with nationwide trends.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/baltimore-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-06T14:51:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-21T11:00:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/01\/Baltimore-iStock-1355142716.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Hamann\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Baltimore Multifamily Market Report (Fall 2021) - Yardi Matrix Blog","description":"The Baltimore market is moving forward and registering record gains, on par with nationwide 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