Insights
Maryland
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BACK TO INSIGHTSEXPLORE 4 Maryland MARKETSToggle markets
VACANCY
Apartment
Average Vacancy Rate 4.0%
- Drifted upward by 10 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2021 at 4.1%.
Distribution / Warehousing
Average Vacancy Rate 10.6%
- Drifted downward by 40 basis points.
- Expected to finish 2021 at 10.0%.
Flex / R&D
Average Vacancy Rate 12.5%
- Increased by 90 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 12.2%.
Office
Average Vacancy Rate 18.3%
- Drifted upward by 20 basis points.
- Highest level since Q2 1997.
- Expected to finish 2021 at 19.5%.
Retail
Average Vacancy Rate 8.4%
- No change since year-end 2020.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2021 at 9.8%.
RENT
Apartment
Average Asking Rent $1,293
- Up 0.4% from year-end 2020.
- Expected to finish 2021 at $1,315.
Distribution / Warehousing
Average Asking Rent $5.89
- Up 0.3% from year-end 2020.
- Expected to finish 2021 at $6.00.
Flex / R&D
Average Asking Rent $9.87
- Up 0.7% from year-end 2020.
- Fastest rate of increase since year-end 2010.
- Expected to finish 2021 at $9.88.
Office
Average Asking Rent $25.77
- Down 0.1% from year-end 2020.
- Expected to finish 2021 at $25.31.
Retail
Average Asking Rent $24.93
- Up 0.2% from year-end 2020.
- Expected to finish 2021 at $23.59.
VACANCY
Apartment
Average Vacancy Rate 3.7%
- Drifted downward by 20 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2021 at 4.1%.
Distribution / Warehousing
Average Vacancy Rate 10.2%
- Drifted downward by 10 basis points.
- Expected to finish 2021 at 9.4%.
Flex / R&D
Average Vacancy Rate 9.2%
- Fell by 80 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2021 at 9.9%.
Office
Average Vacancy Rate 19.2%
- Drifted upward by 20 basis points.
- Expected to finish 2021 at 20.5%.
Retail
Average Vacancy Rate 7.9%
- Drifted upward by 10 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2021 at 9.3%.
RENT
Apartment
Average Asking Rent $1,577
- Down 0.7% from year-end 2020.
- Expected to finish 2021 at $1,607.
Distribution / Warehousing
Average Asking Rent $8.32
- Down 0.2% from year-end 2020.
- Expected to finish 2021 at $8.48.
Flex / R&D
Average Asking Rent $12.47
- Up 0.5% from year-end 2020.
- Expected to finish 2021 at $12.44.
Office
Average Asking Rent $30.27
- Up 0.1% from year-end 2020.
- Expected to finish 2021 at $29.71.
Retail
Average Asking Rent $27.72
- Down 0.4% from year-end 2020.
- Expected to finish 2021 at $26.44.
VACANCY
Apartment
Average Vacancy Rate 5.6%
- Drifted downward by 10 basis points.
- Expected to finish 2021 at 5.9%.
Distribution / Warehousing
Average Vacancy Rate 5.4%
- Lowest in the South Atlantic region, fourth lowest in the nation.
- Drifted upward by 10 basis points.
- Highest level since Q1 2019.
Flex / R&D
Average Vacancy Rate 11.4%
- Rose by 50 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 11.8%.
Office
Average Vacancy Rate 20.6%
- Drifted upward by 30 basis points.
- Highest level since year-end 1996.
- Expected to finish 2021 at 21.6%.
Retail
Average Vacancy Rate 6.6%
- Lowest in the South Atlantic region, fifth lowest in the nation.
- Drifted upward by 20 basis points.
- Highest level since Q1 2019.
RENT
Apartment
Average Asking Rent $1,803
- Second lowest rent growth in the nation, higher than only San Jose.
- Expected to finish 2021 at $1,840.
Distribution / Warehousing
Average Asking Rent $9.46
- Up 0.3% from year-end 2020.
- Expected to finish 2021 at $9.61.
Flex / R&D
Average Asking Rent $12.62
- Down 0.1% from year-end 2020.
- Expected to finish 2021 at $12.59.
Office
Average Asking Rent $35.11
- Flat since year-end 2020.
- Expected to finish 2021 at $34.12.
Retail
Average Asking Rent $30.64
- Flat since year-end 2020.
- Expected to finish 2021 at $29.01.
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.