BALTIMORE (WJZ) — Despite dozens of the largest counties in the country seeing rent prices fall from one year ago, Baltimore rents are increasing at some of the highest rates, a new report found.
The report from Realtor.com found the average rent for a studio apartment in Baltimore climbed 11.3% to $944 from September 2019 to September 2020. Average rent for a one-bedroom apartment in Charm City increased by 10% in the same period to $1,210.
The rent increases in Baltimore put the city in the top ten markets in the country for price hikes. The city came in ninth for the increase in studio apartment rent and sixth for the increase in one-bedroom apartment rent.
While Baltimoreans are paying more for housing, rent prices fell in Washington, D.C., the report found. The average rent for a one-bedroom unit in the nation’s capital fell 8.1% to $2,174.
Rents fell by the highest rates in areas like San Francisco and the Bay Area, Manhattan, Boston and Seattle.