Why Should You Consider Buying An Airbnb in Baltimore?

Some of the attractive features that Baltimore, the “Charm City”, has to offer include streets full of culture and fun where both locals and visitors can admire its music and arts scene, fascinating sports events and vibrant nightlife!  Aside from the fact that Baltimore is one of the most affordable cities on the East Coast, it’s certainly perfect for a property investor who wants to enjoy these rewards while earning a passive income through Airbnb. Not yet convinced? Here are some of the major reasons why you should consider buying a property for Airbnb in Baltimore:

1. Highly affordable market

Real estate affordability is one of the major determining factors when choosing a location to invest in a property. The great news is that Baltimore’s housing values are fairly lower than other cities in Maryland. Based on Zillow Index, the average property price here is $209K, trending up 9.4% year-over-year.

2. Popular tourist destination

It’s a given fact that Baltimore is a vibrant city located on the East Coast that has a rich history, iconic restaurants, shops and great attractions where you will never get bored. Of course, travelers love the city’s environment, in fact, only in 2021, it welcomed around 24M visitors according to Visit Baltimore portal.

3. Low risk of natural disasters

Property investors will usually worry about one thing: Are natural disasters likely to occur in the area and destroy my property? Property investment does not only require effort and money but also precious time. The good news is that in Baltimore, there is a low risk of natural disasters such as hurricanes, wildfires and earthquakes as confirmed by Dwellics. 

What are the cons of buying an Airbnb property in Baltimore?

Now that we know the advantages of investing in Baltimore, let’s move on and take a quick look at the cons. It’s always better to look at the two sides of each coin in order to properly set your expectations!

1. Highest taxes in the State

Baltimore is a politically independent city, for this reason, income taxes are higher compared to other cities in the county. On top of that, property taxes are one of the highest in Maryland, being an average of 0.98%. 

2. The crime rate can be alarming

One of the biggest downsides of Baltimore is that it experiences high levels of crime rate, which is 62.41 crimes per 1,000 residents. Safety can be a great concern in this city, so it’s better to avoid bad neighborhoods like Berea Area, Cherry Hill and those located around West Baltimore.

Best Neighborhoods for Airbnb in Baltimore

Let’s take a closer look at the important Airbnb key metrics to discover which is the most profitable neighborhood in Baltimore. Filtered for a 1-bedroom apartment, here is a brief overview of some of the most recommended and profitable neighborhoods: