RANK #870 / 1001 NAT · #16 / 18 MD · POP 573,243
1YR FORECAST: -1.7%
5YR OUTLOOK: +21%
Known as "Charm City," Baltimore, Maryland, is recognized for its distinct neighborhoods and rich history. The city is an independent entity, not part of any county, and sits about an hour north of Washington, D.C. Commuters have various public transportation options, including buses, light rail, and the Metro SubwayLink, with MARC train service connecting to Washington, D.C. in as little as 35 minutes. Baltimore offers numerous outdoor recreation opportunities, from kayaking in the Inner Harbor to exploring parks like Druid Hill Park and Federal Hill Park, which provide scenic views and walking trails.
Life in Baltimore features a mix of urban and community living, with many residents residing in row homes. The city's economy is undergoing transformation, with significant investments in commercial and residential sectors. Educational institutions like Johns Hopkins University are major employers. Baltimore City Public Schools offer various options, including traditional, charter, and private schools. While economic concerns regarding housing and utility costs are present, initiatives are underway to foster development and support local businesses.
Baltimore city's data profile doesn't fit any single market profile cleanly — its housing, labor, and demographic signals pull in different directions (home prices -1.3% YoY, population -0.7%, wages +5.9%). About 414 U.S. counties show this kind of mixed-signal pattern.
See all 414 Idiosyncratic Markets counties →Below national median (11.3x)
Prices declining
Below-average climate & terrain
Housing is fairly valued at 4.3x relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Baltimore Peninsula Development
Various (including Under Armour, Rye Street Tavern, Sagamore Spirit distillery, Roost hotel)
|
$18,000M | Under Construction |
|
Penn Station Revitalization and Expansion
Amtrak, Cross Street Partners, Beatty Developers
|
$500M | Under Construction |
|
Pimlico Race Course Redevelopment
State of Maryland
|
$400M | Planned |
|
Tradepoint Atlantic Amazon Fulfillment Center
Amazon
|
$50M | Operating |
|
Key Highway South Urban Renewal Plan Redevelopment
Baltimore Development Corporation (seeking proposals)
|
$50M | Proposed |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 1001 counties.
The data is not encouraging — Baltimore city scores just 12/100 on the Boom Town Index, ranking #870 of 1001 counties. Job growth at -0.1% and median household income of $62,177 reflect an economy that has been contracting or stagnating relative to the rest of the country.
Housing in Baltimore city is roughly in line with national affordability norms. The median home costs $229,600 and the income-to-home-value ratio sits at 0.27, with rents averaging $1,331/month. Not a bargain, but not a stretch for most local earners either.
Baltimore city is losing population (-0.7% YoY) while the job market is essentially flat (-0.1% employment change). Home values are -1.3% over the past 12 months. A slow-bleed pattern — not a collapse, but residents are leaving faster than employers are hiring.
There's a moderate stream of newcomers. About 3.32% of residents moved from another state, which is above average and suggests Baltimore city has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.