Insights
Maryland
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VACANCY
Apartment
The average Vacancy Rate was 3.6% in the Baltimore metro
- The Baltimore metro had the seventh lowest vacancy in the nation and the eighth lowest in the South Atlantic.
- No vacancy change since year-end 2021 in the Baltimore metro.
- The Baltimore metro had the lowest vacancy level since Q1 2002.
Distribution / Warehousing
The average Vacancy Rate was 5.4% in the Baltimore metro
- Vacancy in the Baltimore metro declined by 50 basis points.
- The Baltimore metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 5.1% in the Baltimore metro.
Flex / R&D
The average Vacancy Rate was 8.6% in the Baltimore metro
- Vacancy in the Baltimore metro drifted downward by 40 basis points.
- The Baltimore metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 8.0% in the Baltimore metro.
Office
The average Vacancy Rate was 17.9% in the Baltimore metro
- Vacancy in the Baltimore metro increased by 80 basis points.
- Vacancy is expected to finish 2022 at 17.5% in the Baltimore metro.
Retail
The average Vacancy Rate was 8.1% in the Baltimore metro
- No vacancy change since year-end 2021 in the Baltimore metro.
- The Baltimore metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 8.1% in the Baltimore metro.
RENT
Apartment
The average Asking Rent was $1,460 in the Baltimore metro
- Rent in the Baltimore metro was down 0.7% from year-end 2021.
- Rent is expected to finish 2022 at $1,485 in the Baltimore metro.
Distribution / Warehousing
The average Asking Rent was $6.19 in the Baltimore metro
- Rent in the Baltimore metro was up 1.6% from year-end 2021.
- Rent is expected to finish 2022 at $6.38 in the Baltimore metro.
Flex / R&D
The average Asking Rent was $10.32 in the Baltimore metro
- The Baltimore metro had the fastest rent growth in the nation.
- Baltimore metro had its fastest rent rate of increase since Q3 2009.
- Rent Has risen for six consecutive quarters in the Baltimore metro.
Office
The average Asking Rent was $25.95 in the Baltimore metro
- Rent in the Baltimore metro was up 0.5% from year-end 2021.
- Rent is expected to finish 2022 at $25.83 in the Baltimore metro.
Retail
The average Asking Rent was $25.01 in the Baltimore metro
- The Baltimore metro remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $25.08 in the Baltimore metro.
VACANCY
Apartment
The average Vacancy Rate was 3.8% in the Suburban Maryland market
- The Suburban Maryland market had the tenth lowest vacancy in the nation and the eleventh lowest in the South Atlantic.
- No vacancy change since year-end 2021 in the Suburban Maryland market.
- Vacancy is expected to finish 2022 at 4.0% in the Suburban Maryland market.
Distribution / Warehousing
The average Vacancy Rate was 5.5% in the Suburban Maryland market
- Vacancy in the Suburban Maryland market drifted downward by 40 basis points.
- The Suburban Maryland market had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 4.6% in the Suburban Maryland market.
Flex / R&D
The average Vacancy Rate was 7.0% in the Suburban Maryland market
- No vacancy change since year-end 2021 in the Suburban Maryland market.
- The Suburban Maryland market had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 6.7% in the Suburban Maryland market.
Office
The average Vacancy Rate was 17.9% in the Suburban Maryland market
- No vacancy change since year-end 2021 in the Suburban Maryland market.
- The Suburban Maryland market had the lowest vacancy level since year-end 2016.
- Vacancy is expected to finish 2022 at 18.4% in the Suburban Maryland market.
Retail
The average Vacancy Rate was 7.5% in the Suburban Maryland market
- The Suburban Maryland market had the eighth lowest vacancy in the nation and the ninth lowest in the South Atlantic.
- Vacancy in the Suburban Maryland market drifted downward by 10 basis points.
- Vacancy is expected to finish 2022 at 7.8% in the Suburban Maryland market.
RENT
Apartment
The average Asking Rent was $1,712 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 2.8% from year-end 2021.
- Rent is expected to finish 2022 at $1,745 in the Suburban Maryland market.
Distribution / Warehousing
The average Asking Rent was $8.80 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 1.7% from year-end 2021.
- Suburban Maryland market had its fastest rent rate of increase since Q3 2009.
- Rent is expected to finish 2022 at $8.92 in the Suburban Maryland market.
Flex / R&D
The average Asking Rent was $13.05 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 1.2% from year-end 2021.
- Rent has risen in every quarter since Q2 2013 in the Suburban Maryland market.
- Rent is expected to finish 2022 at $13.36 in the Suburban Maryland market.
Office
The average Asking Rent was $30.36 in the Suburban Maryland market
- The Suburban Maryland market remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $30.56 in the Suburban Maryland market.
Retail
The average Asking Rent was $27.86 in the Suburban Maryland market
- The Suburban Maryland market remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $27.99 in the Suburban Maryland market.
VACANCY
Apartment
The average Vacancy Rate was 4.8% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market drifted downward by 40 basis points.
- Vacancy is expected to finish 2022 at 4.9% in the Suburban Virginia market.
Distribution / Warehousing
The average Vacancy Rate was 2.6% in the Suburban Virginia market
- The Suburban Virginia market had the fourth lowest vacancy in the nation and the fifth lowest in the South Atlantic.
- No vacancy change since year-end 2021 in the Suburban Virginia market.
- The Suburban Virginia market had the lowest vacancy level since Q3 2009.
Flex / R&D
The average Vacancy Rate was 7.1% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market drifted upward by 20 basis points.
- Vacancy is expected to finish 2022 at 6.8% in the Suburban Virginia market.
Office
The average Vacancy Rate was 20.7% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market rose by 50 basis points.
- Vacancy is expected to finish 2022 at 20.7% in the Suburban Virginia market.
Retail
The average Vacancy Rate was 6.1% in the Suburban Virginia market
- The Suburban Virginia market had the fourth lowest vacancy in the nation and the fifth lowest in the South Atlantic.
- No vacancy change since year-end 2021 in the Suburban Virginia market.
- Vacancy is expected to finish 2022 at 6.3% in the Suburban Virginia market.
RENT
Apartment
The average Asking Rent was $1,959 in the Suburban Virginia market
- The Suburban Virginia market remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $2,003 in the Suburban Virginia market.
Distribution / Warehousing
The average Asking Rent was $9.95 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 1.4% from year-end 2021.
- Rent is expected to finish 2022 at $10.20 in the Suburban Virginia market.
Flex / R&D
The average Asking Rent was $13.17 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 1.3% from year-end 2021.
- Rent is expected to finish 2022 at $13.50 in the Suburban Virginia market.
Office
The average Asking Rent was $35.39 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 0.3% from year-end 2021.
- Rent is expected to finish 2022 at $35.31 in the Suburban Virginia market.
Retail
The average Asking Rent was $30.65 in the Suburban Virginia market
- The Suburban Virginia market remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $30.82 in the Suburban Virginia market.
VACANCY
Distribution / Warehousing
Average Vacancy Rate 6.2%
- Fell by 130 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2018 at.
RENT
Distribution / Warehousing
Average Asking Rent $6.77
- Up 1.2% from Q2 2018.
- Expected to finish 2018 at.