The city of Baltimore is known for a lot of trivia distinct to the Charm City alone, but nothing is more popular than it being an affordable place to live. Indeed, over the years Baltimore is known for its cheap way of living and affordable housing. As early as 2016, people are being encouraged to live in Baltimore for good. The main reason is that it is affordable to live a life in the city.
Fredrick Kunkle wrote an excellent article in The Washington Post about how cheap to live in Baltimore for several reasons according to experts who conducted an analysis of different cities across the country. Read the article below to learn more.
Come To Baltimore, Where The Housing Is Cheap — and Life Is Too
Image Source: The Washington Post
Tired of paying high rent in D.C.? Don’t mind riding the train for an hour or more? Or getting shot? Move to Baltimore!
A new ad campaign is trying to persuade Washingtonians to relocate to Maryland’s biggest city because it’s cheaper to live there.
The campaign – which was initiated by the nonprofit civic booster Live Baltimore and first reported by The Baltimore Sun — says housing prices in Baltimore are so low that you might be better off living in Charm City and commuting to D.C. The campaign’s ads compare a $669,000 house near Union Station in the nation’s capital to a comparable home costing $299,000 near Baltimore’s Penn Station.
The ads, part of a broader effort to sell Baltimore to Washingtonians, have run in social media, Washington City Paper and on MARC trains, which connect the two cities.
According to the Sun the number of people commuting from Baltimore to D.C. for work has nearly doubled in recent years, from about 3,000 to about 5,940, according to most recent American Community Survey estimates from the U.S. Census. The Maryland Transit Administration, which runs MARC, also reports a small uptick in the number of people traveling to D.C. from the city.
Ernst Valery, a developer hoping to break ground on an apartment building near Penn Station, told the Sun that Baltimore has the potential to “be a bigger city than D.C.,” that Baltimore has “grit,” and that “D.C. feels like a Disneyland sometimes.”
Eugene Poverni, a principal at Poverni Sheikh Group, also described his ambitions for Baltimore as being the next Jersey City or Brooklyn, apparently because of its proximity to Disneyland, the Sun reported.
Live Baltimore executive director Steven Gondol, who made the move from D.C. to Baltimore about 12 years ago, said he thought the city was more “easy-going,” compared with work-a-holic D.C.
“It’s not ‘Where do you work?’ or ‘What do you do?’ — but ‘What are you doing this weekend?’” Gondol said. “In Baltimore, living is just so much easier.”
If you manage to stay alive. Isn’t it also possible that Baltimore’s housing prices are so low and its residents are in short supply because the city is a little troubled?
Last year, you may recall, a section of the city erupted in riots after 25-year-old Freddie Gray died from injuries suffered in police custody. Six officers face charges in connection with Gray’s death. The riots exposed long-simmering tensions in the city’s poor communities where residents have felt ignored and left behind as other parts of the city have prospered. Last year also happened to be the deadliest year on record in Baltimore since the 1990s. A few years before that, the city’s dangerous, gang-run jail became a national scandal. Click here to read the rest of this post…
Supported by data, Baltimore is indeed the ideal place to live due to its affordable state of living in general. Comparing it to key cities like the Washington D.C. Baltimore is very cheap, especially in purchasing properties. Two years had passed, and still, Baltimore is among the most affordable neighborhood in the country. One of the proofs to this is the article written by Ryan Sharrow in Baltimore Biz Journals as to why is definitely cheap to live in Baltimore this 2019.
Three Baltimore-area Neighborhoods Among 10 ‘Hottest’ and ‘Affordable’ in U.S.
Image Source: Baltimore Biz Journals
Three neighborhoods across Greater Baltimore are gaining steam not only as popular places to live, but also for offering the best value.
Parkville (No. 3), Hamilton (No. 4) and Linthicum (No. 7) all nabbed spots on Redfin’s new list of the “10 hottest affordable neighborhoods in the U.S.”
The report determines which of Redfin’s “hot neighborhoods” are within reach for the average homebuyer by incorporating a price cap of $294,000, the national median home price. The data used is from November sales.
The online real estate brokerage notes that all three Baltimore-area neighborhoods are “on the outskirts of the city in areas that are attractive to move-up buyers.”
“A lot of people are moving away from the city center into places that feel more like suburbs,” Redfin agent Rebecca Hall said in a statement. “They’re moving to areas that don’t feel as dense; they have more of a neighborhood feel and that’s really appealing to homebuyers. You can get larger single-family homes rather than the rowhouses Baltimore is known for, and they’re less expensive. Some of these pockets are also known for desirable charter schools.”
Across the Baltimore area, the median sale price of a home is $270,000. In Parkville, the median sale price is $204,900, with homes receiving an average of 98.2 percent of the original list price. Some 24 percent of home sales went for above the asking price.
“Parkville is popular for people who want to live slightly outside the city of Baltimore. People appreciate that they’re not too far from downtown, but the property taxes are less expensive and the homes tend to be larger,” said Redfin agent Juliana Weaver. “There are also a lot of cute Cape Cod style homes in the area, so I always recommend Parkville to people looking for that type of home.”
The median sale price in Hamilton, located in the city near the Baltimore County line, is $159,500. Homes receive an average of 98.2 percent of the original list price, while 31.6 percent sold for above asking.
Northeast Baltimore, in general, “has been an area where we’ve seen tremendous growth in the last few years,” said Annie Milli, executive director of Live Baltimore, whch promotes city living. She notes the neighborhood is ideal for people looking for both family and suburban living. An influx of young families have moved to the area from Canton and Fells Point in recent years, she said, adding that you can buy a single-family home with a driveway and yard, while also being able to walk to restaurants and coffee shops.
Linthicum, located near Baltimore/Washington International Thurgood Marshall Airport in Anne Arundel County, has a median sale price of $270,000, on par with the region’s average. The average sale-to-list price ratio is 99.4 percent, with 37 percent selling for above ask. See full post here…
Baltimore is an awesome city to live for people who are just starting in their careers for several reasons. Baltimore is the largest city in Maryland and the businesses are booming in terms of numbers and profits. In addition, buying a house is among the most affordable in the country. Perfect opportunity to start real estate investing in buying low selling high depending on market conditions.
Walnut Street Finance Team confirmed these amazing facts about Baltimore in an article published on their website. It is the perfect year for investing in real estate.
Top Neighborhoods for Real Estate Investment in Baltimore, MD
Whether you are planning to purchase an investment property to rent, turn into an Airbnb, or to fix and flip, 2018 is quickly becoming a great year for real estate investing in Baltimore. With a steady, dependable economy, Baltimore is a very reliable market for investing; however, with houses being sold very quickly and the current rise in prices, you need to know exactly where to buy so you can act both quickly and smartly. So let’s take a look at the best neighborhoods for real estate investment properties in Baltimore, MD.
What Drives Baltimore’s Real Estate Investment Stability?
Image Source: Walnut Street Finance
One word: jobs. Dependable employment is a major factor when determining a neighborhood’s desirability. Some industries worth paying attention to are healthcare, tech and education — all of which are expected to boom as millennials continue to move into the job market.
The Port of Baltimore also helps drive jobs and industry. In 2017 alone, the Port handled 38.4 million tons of general cargo, which includes 10.7 million tons of cargo handled through its public terminals — a new Port record.
Plus, Baltimore’s colleges and universities, such as John Hopkins University and the University of Maryland are dependable predictors of housing needs. Wherever you find an institution of knowledge, you’ll find people looking for a place to live.
Charles Village
As the home of Johns Hopkins University, Charles Village is an ideal place to look for an investment property. There you’ll find condos, row homes, new construction and more. Students and faculty alike call it home, not to mention a large number of people who are happy to live in a neighborhood that has been on the National Register of Historic Places since 1983. Easily walkable and well served by public transit, you’ll be happy to know that 78 percent of residents there are renters.
Median home value: $245,453
Median rent: $1,029
Hampden
North of downtown with a small-town feel, this is a great little neighborhood both singles and young families, so you can really capture the burgeoning millennial market. There you’ll find row homes, duplexes single-family homes, often in a Victorian style. More than half the people who live there are renters, and property comes at a fair price.
There are several factors that make Baltimore among the best places to live when you are starting a career or a family. Its cheap food, reasonable salary, and affordable homes are mostly considered factors. Because of this news, probably there would be a huge influx of people who’ll be transferring in Baltimore for good. Thus, there would be lots of home buyers; and a perfect opportunity to sell your house fast.
If you’re looking some help in selling your house, we at Dependable Homebuyers are here to help find the right buyer for your property. Visit us on https://www.dependablehomebuyers.com/maryland/baltimore to find out more.
Dependable Homebuyers
1402 Belt St, Baltimore, MD 21230
(443) 266-6247
