Markets & EconomyRentals

Rental market in Baltimore is red-hot, says AppFolio exec

  • AppFolio Property Management sees Baltimore as a hot rental market.
  • Based on RealtyTrac numbers, the vacancy rate and the number of available units are both dropping.
  • AppFolio exec Nat Kunes says that he sees Baltimore landlords offering shorter leases, which leads to multiple rent increases for a tenant each year.

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AppFolio Property Management, one of a suite of companies under the AppFolio name, is the proud owner of a massive amount of information about rental markets across the country. With clients in all 50 states, their experts can share insights on the goings-on in specific local markets. The company’s Vice President for Product Management, Nat Kunes, had quite a bit to say about Baltimore, a surprise entry into the list of markets where it’s good to own rental property now. Kunes based his comment on the recent RealtyTrac report that discussed rental returns by market. It ranked Baltimore third for the highest potential rental returns. According to RealtyTrac, Baltimore is second only to the Atlanta and Macon, Georgia, metros for this phenomenon. Among other interesting tidbits about the Baltimore rental market, the RealtyTrac report found that the market is close to a three-year high in occupancy rates. Last June, the rate was 95.4 percent. That came during a ti...