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Apartment rent prices in Baltimore and Towson have dropped in 2018 while other Maryland cities have risen – Baltimore Business Journal

Rental Apartments

Rent prices in Baltimore are down a little over 1 percent from last year, although the costs in many neighboring cities in Maryland have gone up, according to a new report.

Out of the 10 largest cities in the Baltimore Metro area reported on by ApartmentList.com, eight saw rent increases over the past year. Odenton had the greatest growth of 3.4 percent to a median price of $1,770 for a one-bedroom apartment — the most expensive of the 10 cities.

Other cities that saw increases including Columbia, Ellicott City, Dundalk, Essex, Glen Burnie, Catonsville and Annapolis.

50 most expensive one-bedroom apartments in Greater Baltimore

1. 414 Light St. Location: Inner Harbor One bedroom asking rent/unit: $2,557 Average asking per square foot: $3.23 Property manager: Questar

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Just two cities, Baltimore and Towson, saw a decrease in the cost of rent over last year at -1.1 percent and -3.6 percent, respectively.

Across the state, year-over-year rent has increased .7 percent, well under the national average of 1.5 percent.

The median rent for a two-bedroom in Baltimore City is about $1,180 per month. That’s only slightly above the national average of $1,170. The rate is competitive with other cities such as Philadelphia, where median rent for the same apartment is about $1,160.

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