Insights
Maryland
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BACK TO INSIGHTSEXPLORE 4 Maryland MARKETSToggle markets
VACANCY
Apartment
Average Vacancy Rate 4.6%
- Drifted upward by 30 basis points.
- Highest level since year-end 2010.
- Expected to finish 2020 at 5.4%.
Distribution / Warehousing
Average Vacancy Rate 9.8%
- Increased by 80 basis points.
- Highest level since Q2 2016.
- Expected to finish 2020 at 9.9%.
Flex / R&D
Average Vacancy Rate 12.2%
- Increased by 50 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2020 at 13.3%.
Office
Average Vacancy Rate 17.5%
- No change since Q1 2020.
- Lowest level since Q1 2018.
- Expected to finish 2020 at 19.7%.
Retail
Average Vacancy Rate 8.2%
- Drifted upward by 20 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 10.4%.
RENT
Apartment
Average Asking Rent $1,307
- Down 0.2% from Q1 2020.
- Expected to finish 2020 at $1,300.
Distribution / Warehousing
Average Asking Rent $5.81
- Down 0.3% from Q1 2020.
- Expected to finish 2020 at $5.57.
Flex / R&D
Average Asking Rent $9.81
- Ninth fastest rent growth in the nation, and the second in the South Atlantic region, behind only Suburban Virginia.
- Expected to finish 2020 at $9.35.
Office
Average Asking Rent $25.78
- Down 0.6% from Q1 2020.
- Expected to finish 2020 at $25.15.
Retail
Average Asking Rent $24.80
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $22.84.
VACANCY
Apartment
Average Vacancy Rate 3.7%
- Lowest in the South Atlantic region, twelfth lowest in the nation.
- Drifted upward by 10 basis points.
- Expected to finish 2020 at 4.9%.
Distribution / Warehousing
Average Vacancy Rate 10.0%
- Drifted upward by 40 basis points.
- Highest level since Q3 2016.
- Expected to finish 2020 at 11.4%.
Flex / R&D
Average Vacancy Rate 8.7%
- Drifted upward by 40 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 9.3%.
Office
Average Vacancy Rate 18.7%
- Drifted downward by 30 basis points.
- Lowest level since Q2 2018.
- Expected to finish 2020 at 20.7%.
Retail
Average Vacancy Rate 7.4%
- Drifted upward by 20 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 9.5%.
RENT
Apartment
Average Asking Rent $1,640
- Flat since Q1 2020.
- Expected to finish 2020 at $1,602.
Distribution / Warehousing
Average Asking Rent $8.28
- Up 0.4% from Q1 2020.
- Expected to finish 2020 at $7.99.
Flex / R&D
Average Asking Rent $12.31
- Up 0.4% from Q1 2020.
- Has risen in every quarter since Q2 2013.
- Expected to finish 2020 at $11.65.
Office
Average Asking Rent $29.92
- Down 0.1% from Q1 2020.
- Expected to finish 2020 at $29.23.
Retail
Average Asking Rent $28.12
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $25.86.
VACANCY
Apartment
Average Vacancy Rate 4.8%
- Drifted upward by 10 basis points.
- Expected to finish 2020 at 6.4%.
Distribution / Warehousing
Average Vacancy Rate 4.9%
- Lowest in the South Atlantic region, third lowest in the nation.
- Drifted downward by 10 basis points.
- Lowest level since year-end 2009.
Flex / R&D
Average Vacancy Rate 11.1%
- Drifted downward by 10 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2020 at 12.8%.
Office
Average Vacancy Rate 19.8%
- Drifted downward by 20 basis points.
- Lowest level since year-end 2017.
- Expected to finish 2020 at 22.2%.
Retail
Average Vacancy Rate 6.0%
- Lowest in the South Atlantic region, fourth lowest in the nation.
- Drifted upward by 10 basis points.
- Expected to finish 2020 at 8.1%.
RENT
Apartment
Average Asking Rent $1,939
- Down 0.1% from Q1 2020.
- Expected to finish 2020 at $1,906.
Distribution / Warehousing
Average Asking Rent $9.37
- Up 0.1% from Q1 2020.
- Has risen in every quarter since year-end 2013.
- Expected to finish 2020 at $8.98.
Flex / R&D
Average Asking Rent $12.60
- Fastest rent growth in the South Atlantic region, fourth most rapid in the nation.
- Expected to finish 2020 at $12.02.
Office
Average Asking Rent $34.91
- Fastest rent growth in the South Atlantic region, third most rapid in the nation.
- Fastest rate of increase since Q1 2016.
- Has risen in every quarter since year-end 2015.
Retail
Average Asking Rent $30.59
- Down 0.6% from Q1 2020.
- Expected to finish 2020 at $28.12.
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.