Baltimore, MD Rental Market Trends

Baltimore Rent Report: April 2024

Welcome to the Apartment List April 2024 Rent Report for Baltimore, MD. Currently, the overall median rent in the city stands at $1,422, after rising 0.8% last month. Prices and are now up 1.2% year-over-year. Read on to learn more about what’s been happening in the Baltimore rental market and how it compares to trends throughout the broader Baltimore metro area and the nation as a whole.

Baltimore rents are up 0.8% month-over-month and up 1.2% year-over-year

The median rent in Baltimore rose by 0.8% over the course of March, and has now increased by a total of 1.2% over the past 12 months. Baltimore’s rent growth over the past year has is similar to the state average (1.7%) and has outpaced the national average (-0.8%).

Baltimore rent growth in 2024 pacing similar last year

Three months into the year, rents in Baltimore have risen 1.3%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to March 2023 rents had increased 1.0%.

March rent growth in Baltimore ranked #29 among large U.S. cities

Baltimore rents went up 0.8% in the past month, compared to the national rate of 0.6%. Among the nation's 100 largest cities, this ranks #29. Similar monthly rent growth took place in Riverside, CA (0.8%) and Enterprise, NV (0.7%).

Baltimore is the #51 most expensive large city in the U.S., with a median rent of $1,422

Citywide, the median rent currently stands at $1,203 for a 1-bedroom apartment and $1,506 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,422. That ranks #51 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,220 for a 1-bedroom, $1,374 for a 2-bedroom, and $1,388 overall. The median rent in Baltimore is 2.5% higher than the national, and is similar to the prices you would find in Raleigh, NC ($1,429) and Nashville, TN ($1,407).

Baltimore rents are 16.8% lower than the metro-wide median

If we expand our view to the wider Baltimore metro area, the median rent is $1,709 meaning that the median price in Baltimore proper ($1,422) is 16.8% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 1.1%, below the rate of rent growth within just the city.

The table below shows the latest rent stats for 14 cities in the Baltimore metro area that are included in our database. Among them, Odenton is currently the most expensive, with a median rent of $2,411. Rosedale is the metro’s most affordable city, with a median rent of $1,362. The metro's fastest annual rent growth is occurring in Glen Burnie (4.5%) while the slowest is in Bel Air South (-1.4%).

City
Median 1BR Rent
Median 2BR Rent
M/M Rent Growth
Y/Y Rent Growth
Annapolis
$1,565
$1,906
0.7%
-1.2%
Baltimore
$1,203
$1,506
0.8%
1.2%
Bel Air South
$1,297
$1,653
1.9%
-1.4%
Carney
$1,501
$1,954
1.2%
-0.3%
Cockeysville
$1,407
$1,587
1.2%
3.2%
Columbia
$1,953
$2,195
1.7%
0.4%
Elkridge
$1,864
$2,070
1.7%
-0.9%
Ellicott City
$1,841
$2,144
2.2%
4.2%
Glen Burnie
$1,445
$1,786
0.3%
4.5%
Odenton
$2,149
$2,452
2.3%
0.9%
Owings Mills
$1,493
$1,836
0.7%
-0.8%
Parkville
$1,280
$1,620
2.1%
4.1%
Rosedale
$1,040
$1,358
0.0%
2.7%
Towson
$1,560
$1,971
1.2%
3.7%
See More

You can also use the map below to explore the latest rent trends in the Baltimore metropolitan area.

Methodology

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.

Top rent specials in Baltimore

Cities similar to Baltimore

Find the best apartment deals!
How many bedrooms do you need?
Find More Rentals By
Find More Rentals in Nearby
Find More Rentals Near