Real Estate Investing in Baltimore, Maryland (21223)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 21223 (Baltimore, MD)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 35.7% of homes vacant — above national norms.
- Declining values: -2.5% 5-year CAGR — values have moved lower.
- Elevated poverty: 29.4% poverty rate — can affect rent collection.
- Lower household income: $35,541 median — tenant affordability is tighter.
What’s happening in Baltimore, MD (21223)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 21223 Baltimore
Investors scanning Baltimore, MD for forced-equity plays often land on the 21223 ZIP. A a solid fit for entry near $68K pairs with rents of $1,536/mo to widen the renovation window.
Flippers and value-add operators have treated 21223 as a working ZIP for a reason. Entry prices around $68K and a deep rental base of 67% renters underpin the exit strategy on both the sale and rent sides.
In Baltimore City, 21223 is part of the operational map, not the passive one. The spread between median price and renovated comp reflects the work available.
A renter-heavy, wage-earner demographic anchors 21223. Value-add players rely on that mix — the 67% share is both the tenant source and the buyer pool for future owner-occupied exits.
The strategy in 21223 is forced equity, not market equity. On the rental side, entry prices are accommodating at $68K, the returns sit in the renovation budget, not the holding period.
Here's what matters if you're considering buying a home in Baltimore:
Property Strategy for 21223
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $64,115 | $1,450 | 16.3% | +5.5% | $64,115 |
| 2BR | $77,718 | $1,770 | 16.4% | +6.8% | $38,859 |
| 3BR | $70,311 | $2,280 | 23.3% | +7.4% | $23,437 |
| 4BR | $126,397 | $2,550 | 14.5% | +7.4% | $31,599 |
| 5BR | $140,720 | — | — | — | $28,144 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 21223 Compare?
| Metric | 21223 | Baltimore | Baltimore-Columbia-Towson, MD | Maryland |
|---|---|---|---|---|
| Home Value | $68,201 | $181,225 | N/A | $424,997 |
| 5-Year CAGR | N/A | 1.8% | N/A | 4.9% |
| Avg Rent | $1,536 | $1,757 | N/A | - |
| Cap Rate | 17.6% | 7.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 21223 (Baltimore, MD). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 21223 (Baltimore, MD)?
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Property managers serving Baltimore City County
Manage rentals here? List your business →Real Property Management Reliable Solutions is a property management company serving Baltimore, MD. summary from their website
RPR Property Management, LLC provides property management services for rental properties. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $68,201 |
| Monthly Rent | $1,536 |
| Price-to-Rent | 3.7:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 27.0% |
| Cap Rate | 17.6% |
| 5-Year IRR | 15.1% |
📈 Home Appreciation
| 1-Year | +1.6% ▲ |
| 3-Year CAGR | -1.5% ▼ |
| 5-Year CAGR | -2.5% ▼ |
| 10-Year CAGR | +5.9% ▲ |
🏠 Rent Trends
| 1-Year | +0.5% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | N/A |
The estimated cap rate (17.6%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 21223
Population: 19,793
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 21223
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Baltimore Leadership School for Young Women
Charles Carroll Barrister Elementary
Empowerment Academy
Baltimore Design School
Federal Hill Preparatory Academy
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,321 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Baltimore, MD?
Baltimore, MD home values average about $68K. That price point suits investors targeting rentals with $1,536/mo in monthly income.
Does Baltimore, MD meet the 1% rule for rental property?
Baltimore, MD delivers a 2.25% rent-to-price ratio on average. Investors targeting the 1% rule will find solid opportunities.
How strong is Baltimore, MD for real estate investors?
With a 4.0/5 investability score, Baltimore, MD ranks as a solid market for rental property investors. Median prices of $68K and rents of $1,536/mo drive the underlying numbers.
How do BRRRR numbers look in Baltimore, MD?
Baltimore, MD BRRRR deals are a strong. With proper buy-side discipline, operators can recycle most of their capital post-refinance.
How should investors approach Baltimore, MD?
Baltimore, MD investors pursuing value-add and BRRRR deals. The underlying economics ($68K prices, $1,536/mo rents) make it a reasonable choice.
You know 21223 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 21223 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 21223 ranks in Baltimore-Columbia-Towson, MD
Every ZIP in this metro, ranked. Free.
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