Baltimore is a great place to live with many opportunities to start a career, start a business, explore historical landmarks, eat some good food and so much more fun things to discover in Charm city. The only problem you’ll encounter is a place to live in the duration of your stay in Baltimore. The easiest and most practical solution to this problem is to rent a room or a house.
If you’re not ready to buy a house yet, renting is the only option you have. But how much does it cost to rent a property in Baltimore? To answer that question, Rent Cafe researched the average rent cost in Baltimore depending on the type of house you are renting.
Baltimore City, MD Rental Market Trends
Highlights
The average rent for an apartment in Baltimore City is $1,227, a 1% decrease compared to the previous year, when the average rent was $1,243.
Studio apartments in Baltimore City rent for $997 a month, while 1-bedroom apartments ask on average $1,167 a month; the average rent for a 2-bedroom apartment is $1,245.
Average Rent in Baltimore City, MD
Image Source: Rent Cafe
The average size for a Baltimore City apartment is 820 square feet, but this number varies greatly depending on apartment type. A studio averages 487 sq. ft., while a one-bedroom apartment offers a more generous square footage: 698. 2-bedroom apartments in Baltimore City have an average size of 944 sq. ft.
The data above shows the average rent cost in Baltimore depending on the type of property you are renting. It also shows that a studio apartment is the cheapest, so a perfect opportunity for those who are on a tight budget living in the city. There’s also no problem if you can afford a 2 or 3 bedroom apartment.
There is a new law in Baltimore submitting landlords and small apartment renters to submit their properties to inspection. This new city law aimed at improving the current housing conditions in low-income neighborhoods in Baltimore. Doug Donovan of The Baltimore Sun explains this law in his article.
New Baltimore Law Requiring All Rental Properties to be Inspected Aimed at Improving Conditions
Image Courtesy of The Baltimore Sun
Landlords of small rental properties in Baltimore are now getting their apartments inspected under a new city law aimed at improving housing conditions in low-income neighborhoods.
Owners of rental properties with one or two units will have to pass a 20-point checklist before Jan. 1 to obtain a license to rent in the city.
That requirement previously applied only to Baltimore’s approximately 6,000 multifamily dwellings with three or more units. But most of the city’s code violations for no heat, mold, rodents and other health risks are found in the one-and-two-unit properties that make up half of Baltimore’s rental market.
“This is huge,” said Ruth Ann Norton, president and CEO of the Green and Healthy Homes Initiative. “The majority of our health problems that come out of housing come out of the small rental properties. They’re often the ones that have escaped oversight in terms of health issues, lead, asthma and injury.”
City officials agree. In a notice to landlords, Baltimore’s Department of Housing and Community Development said the law “is a major step toward improving the overall quality of the housing stock.”
“The city is working to ensure that tenants have healthier, safer places to live,” the department said.
The law took effect Aug. 1, giving property owners five months to hire one of the more than 225 licensed home inspection companies to conduct the reviews.
The timeframe worries some landlords.
“It’s going to be tight,” said Adam Skolnik, executive director of the Maryland Multi-Housing Association, the state’s largest landlord group.
Still, the group supports the law.
“It’s great that they’re going to inspect the smaller [landlords],” Skolnik said.
Advocates for Baltimore tenants have long blamed substandard living conditions on lax judicial and government oversight of landlords. Fifty-three percent of homes in Baltimore are rentals, far above the national average of nearly 37 percent.
The Baltimore Sun reported last year that judges in the city’s landlord-tenant court routinely ruled in favor of property owners in disputes, even when renters proved they were paying rent to live in unsafe living conditions. The city rarely collects or enforces financial and legal penalties levied against landlords.
The Sun identified other cities that have more stringent inspection requirements and policies that distinguish between good and bad landlords.
Baltimore’s new policy is similar to one in Minneapolis in that it establishes different tiers of licenses. The Baltimore landlords with strong inspection records can get three-year licenses. Those with weaker compliance receive two-year and one-year licenses.
To expand inspections without burdening the city’s existing inspectors, landlords will have to pay between $50 to $150 per unit for state-licensed home inspectors to determine whether their properties comply with regulations. That’s similar to the process used by Baltimore County. See full post here…
This is actually a good city law protecting renters’ right to quality shelter to live into in Baltimore. We will be expecting more good quality properties for rent in Baltimore sooner as the government requiring all property owners to improve their properties and must pass the 20-point checklist.
Now you have the idea of the average monthly rent of some properties in Baltimore and a city law protecting and ensuring renters for a good quality, convenient and comfortable place to live by, the next thing to do is find a property to rent within the city. If you’re struggling to find one, Live Baltimore helps you in finding a rental home based on a set of criteria below.
Finding a Rental Home
Image Source: The Fitzgerald
So maybe you’re not ready to buy a house. We totally get it. That’s why we’ve put together resources for those who are looking to rent a place in Baltimore.
Create Your City Living Profile
When you create a City Living Profile, you’re helping us understand how we can best help you. Additionally, you’re gaining access to customizable tools we developed to make your home search as user-friendly as possible.
Explore The Neighborhoods
Each neighborhood has a soul. It’s expressed in the types of architecture and businesses you find there, the culture of the people and the stories they pass down, even in the kind of amenities that make for desirable quality of life. All of these things differ from one neighborhood to the next. Narrow down your search by using our Interactive Map and Neighborhood Profiles to save the neighborhoods that pique your interest and are inspired to explore to your City Living Profile.
Have specific questions? Contact one of our Neighborhood Know-It-Alls to get the scoop. Whatever you do, just make sure you go and experience the neighborhoods for yourself The only way to get a feel for a place is with your feet on the ground.
Did You Know There’s a Tax Credit for Renters?
Since renters indirectly pay property taxes as part of their rent, you may qualify for an annual credit of up to $750 from the State of Maryland. The credit is based upon the relationship between your monthly rent and your gross annual income—and whether or not the portion of your rent that is attributed to indirectly paying property taxes exceeds a fixed amount. Check your eligibility on our Financial Incentives page.
Where to Look for Rental Listings?
If you’re looking for a rentals in Baltimore, many local newspapers have rental listings in their classified sections. Craigslist is often a go-to for landlords to list their rentals. And we also have Apartment Property partners in great neighborhoods all over the city. But often times in Baltimore, just hitting the streets on foot and spotting “For Rent” signs in windows can be the best way to happen upon your next home sweet home!
It’s a little known fact that many Real Estate Agents also show rental properties. So consider working with one of our trusted City Living Experts. There are other Real Estate Agents in the city who will work with you as well. The important thing is to find someone you feel comfortable working with. You can see which rentals are listed with agents at MRISHomes.com by selecting the “Residential Rentals” options in your search. Learn more here…
Keep in mind these tips when starting to find a home to rent in Baltimore and you’ll definitely find good deals without hurting your pocket. Find the house that you’ll be comfortable living for the entire duration of your stay in the city, be it for work, for tourism, etc.
But if you prefer buying a house in Baltimore instead of renting, Dependable Homebuyers can help you find good home deals at a reasonable price. Visit our website https://www.dependablehomebuyers.com to learn more.
Dependable Homebuyers
1402 Belt St, Baltimore, MD 21230
(443) 266-6247
