Insights
Maryland
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VACANCY
Apartment
The average Vacancy Rate was 4.1% in the Baltimore metro
- Vacancy in the Baltimore metro drifted upward by 10 basis points.
- The Baltimore metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2025 at 4.2% in the Baltimore metro.
Distribution / Warehousing
The average Vacancy Rate was 3.7% in the Baltimore metro
- Vacancy in the Baltimore metro drifted downward by 10 basis points.
- The Baltimore metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2025 at 3.5% in the Baltimore metro.
Flex / R&D
The average Vacancy Rate was 8.9% in the Baltimore metro
- Vacancy in the Baltimore metro has risen for six consecutive quarters.
- The Baltimore metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2025 at 8.4% in the Baltimore metro.
Office
The average Vacancy Rate was 21.2% in the Baltimore metro
- Vacancy in the Baltimore metro increased by 120 basis points.
- The Baltimore metro had the highest vacancy level since year-end 1993.
- Vacancy is expected to finish 2025 at 20.6% in the Baltimore metro.
Retail
The average Vacancy Rate was 7.9% in the Baltimore metro
- No vacancy change since Q3 2024 in the Baltimore metro.
- The Baltimore metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2025 at 7.9% in the Baltimore metro.
RENT
Apartment
The average Asking Rent was $1,518 in the Baltimore metro
- Rent in the Baltimore metro was up 0.3% from Q3 2024.
- Rent is expected to finish 2025 at $1,545 in the Baltimore metro.
Distribution / Warehousing
The average Asking Rent was $7.44 in the Baltimore metro
- Rent in the Baltimore metro was up 0.5% from Q3 2024.
- Rent has risen in every quarter since Q2 2021 in the Baltimore metro.
- Rent is expected to finish 2025 at $7.66 in the Baltimore metro.
Flex / R&D
The average Asking Rent was $12.63 in the Baltimore metro
- Rent in the Baltimore metro was up 0.9% from Q3 2024.
- Rent has risen in every quarter since Q3 2020 in the Baltimore metro.
- Rent is expected to finish 2025 at $13.08 in the Baltimore metro.
Office
The average Asking Rent was $26.50 in the Baltimore metro
- Rent in the Baltimore metro was up 0.6% from Q3 2024.
- Baltimore metro had its fastest rent rate of increase in six quarters.
- Rent is expected to finish 2025 at $26.79 in the Baltimore metro.
Retail
The average Asking Rent was $25.38 in the Baltimore metro
- Rent in the Baltimore metro was up 0.3% from Q3 2024.
- Rent is expected to finish 2025 at $25.86 in the Baltimore metro.
VACANCY
Apartment
The average Vacancy Rate was 4.4% in the Suburban Maryland market
- Vacancy in the Suburban Maryland market drifted upward by 30 basis points.
- The Suburban Maryland market had the highest vacancy level since year-end 2011.
- Vacancy is expected to finish 2025 at 4.3% in the Suburban Maryland market.
Distribution / Warehousing
The average Vacancy Rate was 4.5% in the Suburban Maryland market
- Vacancy in the Suburban Maryland market drifted downward by 30 basis points.
- Vacancy is expected to finish 2025 at 4.8% in the Suburban Maryland market.
Flex / R&D
The average Vacancy Rate was 5.5% in the Suburban Maryland market
- Vacancy in the Suburban Maryland market drifted downward by 30 basis points.
- The Suburban Maryland market was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2025 at 5.2% in the Suburban Maryland market.
Office
The average Vacancy Rate was 21.2% in the Suburban Maryland market
- Vacancy in the Suburban Maryland market drifted upward by 30 basis points.
- Vacancy is expected to finish 2025 at 21.4% in the Suburban Maryland market.
Retail
The average Vacancy Rate was 7.6% in the Suburban Maryland market
- Vacancy in the Suburban Maryland market drifted upward by 20 basis points.
- The Suburban Maryland market was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2025 at 7.7% in the Suburban Maryland market.
RENT
Apartment
The average Asking Rent was $1,832 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 0.1% from Q3 2024.
- Rent is expected to finish 2025 at $1,877 in the Suburban Maryland market.
Distribution / Warehousing
The average Asking Rent was $10.93 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 0.3% from Q3 2024.
- Rent has risen in every quarter since Q1 2021 in the Suburban Maryland market.
- Rent is expected to finish 2025 at $11.24 in the Suburban Maryland market.
Flex / R&D
The average Asking Rent was $16.48 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 0.5% from Q3 2024.
- Rent has risen in every quarter since Q2 2013 in the Suburban Maryland market.
- Rent is expected to finish 2025 at $16.84 in the Suburban Maryland market.
Office
The average Asking Rent was $31.17 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 0.3% from Q3 2024.
- Rent is expected to finish 2025 at $31.48 in the Suburban Maryland market.
Retail
The average Asking Rent was $28.47 in the Suburban Maryland market
- Rent in the Suburban Maryland market was up 0.2% from Q3 2024.
- Rent Has risen for eight consecutive quarters in the Suburban Maryland market.
- Rent is expected to finish 2025 at $29.06 in the Suburban Maryland market.
VACANCY
Apartment
The average Vacancy Rate was 4.9% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market drifted upward by 10 basis points.
- Vacancy is expected to finish 2025 at 5.1% in the Suburban Virginia market.
Distribution / Warehousing
The average Vacancy Rate was 3.1% in the Suburban Virginia market
- The Suburban Virginia market had the tenth lowest vacancy in the nation and the fifth lowest in the South Atlantic.
- Vacancy in the Suburban Virginia market drifted downward by 10 basis points.
- Vacancy is expected to finish 2025 at 3.0% in the Suburban Virginia market.
Flex / R&D
The average Vacancy Rate was 6.1% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market drifted downward by 20 basis points.
- Vacancy is expected to finish 2025 at 5.8% in the Suburban Virginia market.
Office
The average Vacancy Rate was 22.0% in the Suburban Virginia market
- Vacancy in the Suburban Virginia market drifted upward by 20 basis points.
- Vacancy is expected to finish 2025 at 22.7% in the Suburban Virginia market.
Retail
The average Vacancy Rate was 6.6% in the Suburban Virginia market
- The Suburban Virginia market had the lowest vacancy in the South Atlantic region, fourth lowest in the nation.
- Vacancy in the Suburban Virginia market drifted upward by 40 basis points.
- The Suburban Virginia market had the highest vacancy level since Q1 2019.
RENT
Apartment
The average Asking Rent was $2,152 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 0.8% from Q3 2024.
- Suburban Virginia market had its fastest rent rate of increase in eight quarters.
- Rent is expected to finish 2025 at $2,197 in the Suburban Virginia market.
Distribution / Warehousing
The average Asking Rent was $12.01 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 0.4% from Q3 2024.
- Rent has risen in every quarter since year-end 2020 in the Suburban Virginia market.
- Rent is expected to finish 2025 at $12.38 in the Suburban Virginia market.
Flex / R&D
The average Asking Rent was $16.42 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 0.7% from Q3 2024.
- Rent has risen in every quarter since Q1 2021 in the Suburban Virginia market.
- Rent is expected to finish 2025 at $16.96 in the Suburban Virginia market.
Office
The average Asking Rent was $35.54 in the Suburban Virginia market
- The Suburban Virginia market remained flat rent since Q3 2024.
- Rent is expected to finish 2025 at $35.86 in the Suburban Virginia market.
Retail
The average Asking Rent was $30.96 in the Suburban Virginia market
- Rent in the Suburban Virginia market was up 0.3% from Q3 2024.
- Rent Has risen for seven consecutive quarters in the Suburban Virginia market.
- Rent is expected to finish 2025 at $31.66 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.