Baltimore, MD is a city of opportunity. It was founded in 1729 as one of the largest seaports to handle tobacco and grain shipments, but it wasn't until after World War I that this port became an important economic hub for manufacturing companies across America. Today, Baltimore has emerged anew - more modern than ever before.
Quick Facts
- Baltimore's population is 583,923
- The average household income is $50,177
- Average rental fee is $1,272
- The median sale price is $215,000
Baltimore, MD in a nutshell
Baltimore is a short drive away from some of the major cities in the country, such as New York and Washington, D.C. The town is also politically independent, which means it's not associated with Baltimore County. The taxes are different and higher at 3.2% compared to Baltimore County's 2.8% tax rate.
More than that, Baltimore, MD, is a city filled with culture, nightlife, and great career opportunities.
Job Market
Baltimore has always been known for its shipping, manufacturing, and transportation industries. But according to Forbes magazine, Baltimore is a great place for tech start-ups. The city ranks 8 out of 100 cities for having all STEM (science, technology, engineering, math) jobs available.
The city is also an excellent city for aspiring doctors and nurses. One of the biggest employers is Johns Hopkins University and Johns Hopkins Health System.
Transportation and Commute
Baltimore, as mentioned, is known for its transportation industry. That is why there is no surprise that there is no lack of public transportation. The Maryland Transit Administration operates its subway system that connects suburbs to downtown. They also have an efficient bus system, and free shuttles called the Charm City Circulator that travels around the central business district. Having a car won't be a hassle because driving is pretty manageable in the city.
Entertainment
There are a lot of things to do in Baltimore, MD. If you are the type to avoid tourist spots, there are destinations just for you. But, if you enjoy the people and want to go to well-known places then there are spots for you too.
One of the popular entertainment areas is Power Plant Live! It houses various hip restaurants, bars, and music venues. For people who want to avoid tourists, Station North is the place to be. It is an art and entertainment district where people can enjoy galleries and several workshop spaces.
Real Estate in Baltimore, MD
Baltimore, MD, can be an expensive place to live. But there are quite a few affordable apartments. There are also plans by the government to lower property taxes soon. But for now, the median listing per square meter is at $152, and the median sold home price is at $229,000.
Baltimore has a total of 233 neighborhoods but only about 3,900 homes for sale. The demand to buy houses in the city is high, but there is property scarcity. The trend of the average sale is 56 days in the market.
Final Thoughts
Baltimore, MD, is a great city to live in if you want to advance in your career because of the various industries available in the city. In addition, after a long day at work, there are tons of activities to enjoy and good food to eat.
There are a lot of neighborhoods but a scarcity of properties to sell. So if you are looking to buy a house, better start looking now. And if you are looking to sell a house, now is a great opportunity to list.
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