If you're looking for a buy and hold to rent out, the location would depend on your budget and type of tenants. You could rent to young college kids in areas with a great night life or you could rent to families in areas closer to good schools, or you could rent to working class tenants or even section 8. You might want to think about who you want your tenants to be and then speak with a local agent about which areas would be a good match!
Hi Petah! I lived in Baltimore for about a year and lived in Federal Hill. I really liked it! There's a ton of bars, parks, restaurants and yoga studios that you can walk to. It always seemed to me like Fed Hill was where younger professionals went, then they moved to Fells Point or Canton. It also depends on what you like. I haven't looked at buying around there but I imagine it is quite pricy. Mt. Vernon was an area that I really liked and it seemed like it was on the up and up. Maybe you can find better deals there. Although, I haven't lived there for about 2 years. Good luck on the move!
Everbody will have different opinion on this.
My all time favorite is Hampden.
Not crowded like Canton, Fed Hill
Parking is not a big issue
Many restaurants and bars are around
People walk around all the time
House prices are keep rising...
It really depends what you're looking for. Are you going to occupy this property for a period of time before renting? Are you looking for an up and coming neighborhood for appreciation, or are you strictly looking for cash flow? Do you want to be near the bars/day-night life, or would you rather be in a quiet neighborhood? Baltimore can offer it all, it just depends on what your strategy is.
Canton happens to be my favorite neighborhood due to its close proximity to 95, major shopping outlets, the water, and overall positive vibe of the Community. Canton will ALWAYS rent. I repeat, CANTON, WILL, ALWAYS RENT. At times, I have seen people pay more for a bedroom than they should just because "inventory" is low. However, parking is an nightmare and its harder to get a deal and or good entry price point.
Highlandtown has a lot of movement right now. If you're closer to the Patterson Park side you can get more in rental prices. Honestly, some parts of Highlandtown can't even be differentiated from "Patterson Park". Crime is still a huge problem as you get close to Orleans st. I personally wouldn't touch anything on the "400" block from Rose to Highland (just my opinion though).
I lived in Federal Hill when I first moved to Baltimore. "Fed" is more of a younger crowd (at least in my experience), but it was nice to be close to Camden Yards (and the Harbor). I feel like the houses are a bit smaller than Canton but the rental prices are still up to par with the nicest neighborhoods in Baltimore. Crime is really low.
This is all South Baltimore, there are a ton of great neighborhoods to live in Northern Baltimore as well. It really just depends on what you're looking for.
If you are asking what the best neighborhoods are in Baltimore for YOU to consider living in, then that will depend on your lifestyle and wants. If you want a detached home with a yard then you'll be looking in very different neighborhoods then if you're looking for someplace close to downtown with walkable night life.
If you're asking what are the best neighborhoods to INVEST in, then that again will depend. Are you looking to prioritize cash flow, appreciation, forced equity?
I suggest connecting with a local real estate agent who knows Baltimore and works regularly with investors and retail buyers to help you get a better handle on your needs and then guide you in the right direction.
Good luck, welcome to the Baltimore market, and welcome to Bigger Pockets! Feel free to PM me with any questions about our City.
Thanks a lot for all your info!! i'ts helpes me a lot to get perspective where are the good neighborhoods. I'm investor who would like to buy a house for "buy and hold" and to rent it.
Can you recommend on good buyer agent in Baltimore ?
If you're looking for a buy and hold to rent out, the location would depend on your budget and type of tenants. You could rent to young college kids in areas with a great night life or you could rent to families in areas closer to good schools, or you could rent to working class tenants or even section 8. You might want to think about who you want your tenants to be and then speak with a local agent about which areas would be a good match!
I'd like to jump in here with a follow up question (I might be looking for a unicorn here). Does anyone have any thoughts on what the "next" Fed Hill/ Canton/ Fells Point is? Maybe an up-and-coming area near by one of those areas? I'm looking for a live-in-then-rent property with a bit more elbow room than the neighborhoods I mentioned (nothing against those areas just looking for a bit more bang for my buck). Just looking for normal middle class area, that doesn't have $7k in property taxes and isn't in a war zone.