Real Estate Investing in Annapolis, Maryland (21403)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 21403 (Annapolis, MD)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Annapolis, MD (21403)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 21403 Annapolis
The 21403 ZIP in Annapolis, MD is a local-operator market. Outside capital chasing a $627K entry has to pair deep knowledge with the discount.
Rent of $2,232/mo on a $627K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 21403 sits below the stated 0.0% once reality is priced in.
ZIP 21403's metrics run below Anne Arundel County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Who lives in 21403 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 21403 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Annapolis:
Property Strategy for 21403
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $369,498 | $1,810 | 3.5% | +5.5% | $369,498 |
| 2BR | $402,694 | $2,230 | 4.0% | +6.0% | $201,347 |
| 3BR | $582,754 | $2,830 | 3.5% | +6.2% | $194,251 |
| 4BR | $802,664 | $3,140 | 2.8% | +6.9% | $200,666 |
| 5BR | $1,097,294 | — | — | +8.0% | $219,459 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 21403 Compare?
| Metric | 21403 | Annapolis | Baltimore-Columbia-Towson, MD | Maryland |
|---|---|---|---|---|
| Home Value | $626,673 | $683,435 | N/A | $424,997 |
| 5-Year CAGR | 4.3% | 4.7% | N/A | 4.9% |
| Avg Rent | $2,232 | $2,541 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 21403 (Annapolis, MD). Anonymous, moderated, never written by AI.
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Property managers serving Anne Arundel County
Manage rentals here? List your business →American Community Management provides community association management and HOA services across Maryland, Virginia, and D.C. summary from their website
Annapolis Property Services offers property management for homes, apartments, and house rentals, including marketing, tenant screening, rent guarantee, and maintenance. summary from their website
J&L Property Management offers back-office support for association needs, including self-managed, on-site, and portfolio-managed communities. 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 | $626,673 |
| Monthly Rent | $2,232 |
| Price-to-Rent | 23.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +4.3% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +4.3% ▲ |
| 10-Year CAGR | +4.7% ▲ |
🏠 Rent Trends
| 1-Year | +5.8% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 21403
Population: 32,757
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 21403
Schools in This ZIP Code
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 8,156 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much do tenants pay in Annapolis, MD?
Annapolis, MD rentals go for roughly $2,232/mo a month. That puts gross yield in solid territory relative to $627K acquisition costs.
Are there empty rentals in Annapolis, MD?
Annapolis, MD vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Does Annapolis, MD make sense for an investment property?
Annapolis, MD rates 3.0/5 for investability. With median values at $627K and rents near $2,232/mo, the market offers reasonable fundamentals for rental investors.
Is Annapolis, MD a good market for FHA house hackers?
House hacking works a challenging in Annapolis, MD. Rents of $2,232/mo against $627K acquisition make the strategy solid for owner-occupants.
What is it like being a landlord in Annapolis, MD?
For rental operators, Annapolis, MD rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 21403 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 21403 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 21403 ranks in Baltimore-Columbia-Towson, MD
Every ZIP in this metro, ranked. Free.
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