Thinking about moving to Baltimore?
You’ve made a good choice. One of America’s most historical cities, Baltimore is a cultural feast. It’s the true capital of the Mid-Atlantic and far more authentic than neighboring D.C. (which is only a short drive away). It’s chock full of cultural attractions, including museums, historic sites, and perhaps the best aquarium in the world. Though it’s not the biggest city, it’s built with an old-school urbanism that so many other cities are trying (and often failing) to replicate. And if you get tired of Baltimore there are a ton of easy day-trips to places like Philadelphia, D.C., the mountains and the beach.
Yes, Baltimore has its (well-publicized) problems, and the suburbs and the sunbelt have been pulling people away for decades, but those issues can’t overshadow the city’s resurgence. Baltimore’s economy is surging, and the city is becoming a healthcare and tech powerhouse, attracting highly-educated young professionals. At the same time, Baltimore’s low housing prices — it’s by far the best bargain of any urban area on the east coast — are drawing in creative types. This is a city on the upswing, and you’re catching it at just the right time.
Population in Baltimore
Baltimore is home to 614,664 Baltimoreans. With an area of 80.9 square miles, Baltimore has a population density of 7,598 persons per square mile, which makes it more dense than many other cities of comparable size.
The Baltimore-Columbia-Towson, MD Metropolitan Statistical Area boasts a population of 2,798,886 people, of which Baltimore proper’s population makes up 22%.
Baltimore Housing Market
Affordable housing is one of best things Baltimore has going for it. The median home value in Baltimore is $121,700, -39% below the US median value, according to Zillow. The median price per square foot in Baltimore is $109. Over the past 5 years, home values in Baltimore have increased by 4%.
Renters in Baltimore will also have an easy time finding affordable housing. The median rent in Baltimore is $1,288 per month, which is 10% lower than the US median. Over the past year, rental rates in Baltimore have decreased by 3.7%.
Baltimore’s economy is growing strong. The Baltimore metro area’s GDP grew by 19% between 2010 and 2015, from $153 billion in 2010 to $181 billion in 2015, a total increase of $28 billion. The metro area has a per capita GDP of $64,818. According to the US Census Bureau, the median household income in Baltimore, MD is $70,936, 20% higher than the national median. Baltimore’s unemployment rate is 4.4%.