Top Rental Markets in Maryland

The top rental markets in Maryland are Baltimore, Upper Marlboro, Germantown, Silver Spring, Gaithersburg, and Bethesda.  

The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.  

Maryland Rental Trends: 

Maryland is right next to America’s capital which is advantageous for renters and landlords as it is more affordable while still only being a short train away. This small, but heavily populated state has positive numbers in all categories. Here are some highlights from the top rental markets in the Free State. 

Days on Market: 

The city with the lowest days on market is Germantown at 11 – under the national average which sits at 15 days; Gaithersburg has the highest number of days on market at 28.

Leads

The top three towns for the largest amount of leads per listing are around the national average sitting at 38. Here they are:

  • Baltimore – 48 leads per listing
  • Silver Spring – 38 leads per listing
  • Germantown – 37 leads per listing

Average Rent: (2 bedroom listings)

With the national average rent at $1,207 for a two-bedroom, Baltimore comes above that with the lowest average rent of $1,398 for a two-bedroom compared to the highest rent in Maryland at $2,411 in Bethesda. 

Median Home Sale Price:

According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,400. Maryland’s highest median sale price comes much above that at $840,000 in Bethesda with its lowest median sale price at $118,000 in Baltimore. 

Median Income: 

Maryland’s median income rings in at $57, 270 – over the national average at $48,500.

Security Deposit Trends: 

Security deposits have both risen and fallen in Maryland cities between 2018 and 2019. With the largest being an increase of 19.12% in Germantown at $1,900, and the largest decrease in Bethesda at -11.65% with the current average at around $2,200 – over the national average for security deposits which is $1,200.

Livability Score: 

All of the Maryland cities have a livability score of 60 or higher with the highest being Upper Marlboro at 81!

Please visit here for our full methodology.

Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.

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Sarnen Steinbarth

CEO & Founder TurboTenant, Inc

Sarnen has been investing in rental property since the age of 19. He saw firsthand the need for an easy-to-use and affordable technology backed solution geared towards independent landlords. In October of 2015, he launched TurboTenant. Today TurboTenant serves 200,000+ landlords and is still dedicated to making the rental process easy, smooth, and hassle-free. Sarnen is a regular contributor on Forbes and Bigger Pockets and has firmly positioned himself as thought leader in the real estate and proptech space.

Guidelines for using these data.

You are welcome to use any of the data in this report for your own purposes, we just kindly ask that you properly cite the source. You can view our methodology for our TurboTenant Reports here.  

An example citing: According to a report by TurboTenant, an online property management software company….

If you have data requirements that are outside the scope of this article, please email press@turbotenant.com. We have a plethora of data and are happy to supply another data set if it is available. 

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