Despite being a tiny coastal state, Maryland is home to many urban, suburban, and rural areas. The state is dotted with smaller cities, with the most people concentrated in the I-95 corridor between Baltimore and Washington, DC. Due to the diverse geography and many different urban developments, Maryland offers much to prospective developers and investors. Maryland could be the right state for you if you are interested in real estate and want to find an excellent investment property with a good ROI. But what part of Maryland should you choose to make your investment in? To help you decide, we’ve consulted experienced real estate experts and found the best areas for real estate investors in Maryland.
The best areas in Maryland for real estate investors
Maryland is less expensive than comparable high-quality locations near big urban centers. That’s fantastic news if you’re in the real estate business and looking to profit on house purchases for resale or rental. It has one of the greatest economies in the country and is known for its stunning landscape.
The quantity of available job opportunities is staggering, spanning not only the tech and business sectors but also the public sector and federal institutions. Therefore, you can expect the demand for your investment home to be met without difficulty since many are relocating here to pursue their careers. In fact, experts from a local moving company, Fairfax Transfer and Storage, advised that they have seen an increase even in interstate moves to Maryland. But what are the best areas for real estate investors in Maryland? We did thorough research and found five markets in Maryland that have been identified as promising places to begin an investment. We’re positive that one of them will be the one in which you’ll want to start your investment adventure.
#1 Baltimore
Baltimore, the state capital and the United State’s 30th-largest city, is a vast economic hub. There are many employment opportunities in Baltimore due to the presence of major employers from various industries. Johns Hopkins University, Under Armour, T. Rowe Price, and Transamerica are just some of them.
Baltimore’s reduced cost of living compared to other east coast towns is a major draw for young professionals who settle in the city for its thriving neighborhoods and exciting nightlife. As a result, the rental market is thriving in many parts of the city. Station North, Charles Village, and Pigtown are rapidly growing areas with plenty of room for more construction. Baltimore is a great place to start searching for a new investment property.
#2 Eldersburg
Eldersburg is located in Maryland, midway between the cities of Frederick and Baltimore. It’s an old town with all the conveniences of a modern city. Eldersburg has plenty of shopping centers to meet residents’ needs. Nonetheless, the town’s distance from the city creates a rural atmosphere.
Eldersburg is situated in a perfect spot. It’s one of the best areas for real estate investors in Maryland for a good reason. Frederick is twenty-eight miles to the west, while downtown Baltimore is twenty miles to the east. Many local families have children who benefit from the excellent education the Carroll County public schools provide. Maryland State Routes 32 (Sykesville Road) and 26 are the main thoroughfares in and out of Eldersburg (Liberty Road). The Eldersburg area is connected to Westminster and Sykesville by the Carroll Transit System.
#3 Frederick
There are more than 3,500 businesses in Maryland’s second-largest city, and the city’s infrastructure makes it a pleasure to live in. Frederick is becoming attractive to people from all over the US, not just Maryland. It’s easily accessible, and even if you’re organizing an interstate move from Virginia to MD, you can count on quickly finding experienced local movers to hire and help you have a simple transfer from VA. Because of the city’s thriving economy and abundant job opportunities, it is a prime location for people looking to lease or buy a property. The ratio of homeowners to renters is very stable at around 50/50. As a result, it doesn’t matter which strategy you adopt; you can succeed as an investor in Frederick.
#4 Rockville
Due to the city’s robust economy, many people are relocating to Rockville. With top-notch educational opportunities, cultural variety, and exciting nightlife, it consistently ranks among Maryland’s top 10 greatest locations to call home. These are things to highlight when marketing your investment property.
In Rockville, as in Frederick, there is a divide between tenants and homeowners. 5-7 percent of the population comprises homeowners, while the remaining 43 percent are renters. This opens up fantastic possibilities, whether your goal is to engage in house flipping or to invest in rental property. The median rent is $1,847, while the typical income is $100,436; however, the median home value is $498,200, higher than the national average. The proximity to the nation’s capital is likely a contributing factor.
#5 Germantown
Germantown has probably come up among your search results if you have already started searching for a perfect property to invest in. Germantown is one of the nicest areas to live in Maryland and is considerably cheaper than the suburb classification would indicate, despite the fact that it is formally categorized as a suburb of Washington, DC. Median household income is $89,720, typical home value is $326,600, and median rent is $1,664. Even if 65 percent of the population has a mortgage, that doesn’t imply there aren’t viable rental opportunities. This is a highly diverse and family-friendly neighborhood with excellent public schools. If you choose to make your investment here, you’ll surely do rather well.
Final thoughts
choose from. So if none of the ones we’ve listed seems like the one for you, reach out to your experienced local real estate agent to help you find exactly what you’re looking for and ensure you profit from your investment. Maryland has a lot to offer, and we are sure you will easily find the perfect property to invest in.
Photos used:
https://www.pexels.com/photo/hayfield-during-sunset-635626/https://unsplash.com/photos/7lvzopTxjOU
