Baltimore city, Maryland: commercial real estate data.
Baltimore city, Maryland has a population of 573,243 across 81 square miles, down 3.0 percent since the 2020 census base. County output reached $65.58 bn in 2024, 12,383 establishments operate here, and the SBA record carries 973 7(a) approvals worth $360.8 m.
123 sourced county values · tier FULL · 11 sections
Baltimore city
How many people live in Baltimore city
- Population573,243
- Households255,668
- Average household size2.24
- Median household income$62,177
- Median age36.2
- Median gross rent$1,331 per month
- Median owner-occupied home value$229,600
- Home value to household income3.7 times
- Annual rent as a share of median income25.7 percent
- Adults 25 and over with a bachelor degree or higher36.1 percent
- Adults 25 and over with a graduate degree18.1 percent
- Adults 25 and over401,549
- Population under 18119,618
- Share under 1820.9 percent
- Population 65 and over87,602
- Share 65 and over15.3 percent
- Working age population, 18 to 64366,023
- Civilian labor force294,134
- Unemployment rate6.5 percent
- Labor force participation, adults 18 and over64.8 percent
- Rank by population among Maryland independent cities5th of 24
- Rank by population among US county-equivalents123rd
Baltimore city is the 5th largest of 24 Maryland independent cities by population. A median home costs 3.7 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 20.9 percent against 15.3 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Baltimore city
Is Baltimore city growing
- Population change since the 2020 census base-2.98 percent
- Census 2020 base population585,720
- Births, 20247,087
- Deaths, 20246,563
- Natural change, 2024524
- Net domestic migration, 2024-3,279
- Net international migration, 20243,516
- Total net migration, 2024237
- Cumulative net domestic migration, 2021 to 2024-25,419
- Rank by growth among US county-equivalents2736th
The county has lost 2.98 percent of its population since the 2020 census base.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Baltimore city
Where people moving to Baltimore city come from
- Tax returns filed by households arriving19,121
- People arriving, from those returns28,126
- Adjusted gross income arriving$1.15 bn
- Net adjusted gross income movement$0
- Average income of an arriving household$59,968
- Largest single originBaltimore city Non-migrants (189,234 households)
- Largest single destination (189,234 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Baltimore city Non-migrants | 189,234 | 332,987 | $13.91 bn |
| Baltimore County | 6,003 | 10,135 | $308.1 m |
| Other flows - Different State | 2,642 | 3,546 | $143.8 m |
| Anne Arundel County | 1,339 | 1,983 | $72.0 m |
| Other flows - South | 1,175 | 1,678 | $59.2 m |
| Prince George's County | 823 | 1,272 | $42.5 m |
| Howard County | 807 | 1,125 | $48.8 m |
| Montgomery County | 753 | 984 | $51.0 m |
The largest single source of arrivals is Baltimore city Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Baltimore city
What the Baltimore city economy runs on
- County GDP, 2024$65.58 bn
- County GDP, 2023$61.73 bn
- GDP change, 2023 to 20246.2 percent
- GDP change over five years33.2 percent
- Rank by GDP among Maryland independent cities4th
- Rank by GDP among US county-equivalents84th
- GDP per resident$114,400
Output grew 6.2 percent in the latest year and 33.2 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Baltimore city
Who employs people in Baltimore city
- Covered employment, annual average348,184
- Establishments reporting14,856
- Average annual pay$82,818
- Average weekly wage$1,593
- Sector 62, employment74,996
- Sector 62, average annual pay$79,023
- Sector 61, employment28,672
- Sector 61, average annual pay$93,834
- Sector 54, employment21,816
- Sector 54, average annual pay$121,093
- Sector 56, employment21,591
- Sector 56, average annual pay$52,505
- Sector 72, employment20,484
- Sector 48-49, employment20,002
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 74,996 | 1,912 | $79,023 |
| Sector 61 | 28,672 | 365 | $93,834 |
| Sector 54 | 21,816 | 2,236 | $121,093 |
| Sector 56 | 21,591 | 847 | $52,505 |
| Sector 72 | 20,484 | 1,545 | $33,973 |
| Sector 48-49 | 20,002 | 386 | $53,125 |
| Sector 44-45 | 13,475 | 1,634 | $40,192 |
| Sector 31-33 | 10,641 | 442 | $79,069 |
The largest sector is the biggest private employer group at 74,996 jobs, 21.5 percent of covered employment. Average pay per job exceeds median household income, which usually means single earner households and a wage base that can carry rent.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Baltimore city
What businesses operate in Baltimore city
- Establishments, all industries12,383
- Employment at those establishments301,759
- Annual payroll$23.45 bn
- Establishments per 1,000 residents21.6
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Baltimore city
What is being built in Baltimore city
- Housing units authorised by permit, 20241,273
- Declared construction value permitted$297.3 m
- Single family units authorised165
- Multifamily units authorised1,108
- Multifamily share of units87.0 percent
- Average declared value per unit$233,513
- Units authorised per 1,000 households5.0
Multifamily is 87.0 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Baltimore city
How much SBA lending happens in Baltimore city
- 7(a) approvals recorded973
- 7(a) gross approval dollars$360.8 m
- Average 7(a) approval$370,761
- Median 7(a) approval$100,000
- 10th percentile approval$20,000
- 90th percentile approval$1,046,700
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)10,538
- Jobs per approval10.8
- Distinct 7(a) lenders active93
- Distinct industries receiving approvals239
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer7.1 percent
- Loans on real estate terms69
- Loans on working capital terms, 120 months or shorter856
- Franchise loans119
- Franchise share of approvals12.2 percent
- Leading industry by approval countLimited-Service Restaurants (37)
- Most active lenderManufacturers and Traders Trust Company (464)
- 504 approvals recorded75
- 504 gross approval dollars$94.4 m
- Average 504 approval$1,258,853
- Median 504 approval$886,000
- Distinct CDCs active4
- 504 jobs per approval18.6
- 504 jobs per million dollars approved14.8
- Most active CDCBusiness Finance Group, Inc. (55)
- 7(a) share of SBA approvals92.8 percent
- Combined SBA approval dollars$455.2 m
The average approval of $370,761 sits well above the median of $100,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 7.1 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Baltimore city
Do SBA loans in Baltimore city get paid back
- Loans with a final outcome recorded176
- Paid in full151
- Charged off25
- Charge off rate on resolved loans14.2 percent
- Status: Paid in full151
- Status: Exempt from disclosure596
- Status: Cancelled116
- Status: Charged off25
- Status: Committed, not yet disbursed85
Of the 176 loans that have reached a final outcome, 14.2 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Baltimore city
Which parts of Baltimore city get the lending
- Places in the county with recorded lending49
- Baltimore, approvals104
- Owings Mills, approvals87
- TOWSON, approvals69
- Nottingham, approvals56
- Pikesville, approvals52
- CATONSVILLE, approvals50
| Place | Approvals | Gross approval dollars |
|---|---|---|
| Baltimore | 104 | $47,650,400 |
| Owings Mills | 87 | $35,342,000 |
| TOWSON | 69 | $25,333,800 |
| Nottingham | 56 | $19,576,600 |
| Pikesville | 52 | $16,420,000 |
| CATONSVILLE | 50 | $18,529,500 |
| PARKVILLE | 49 | $11,076,700 |
| Lutherville Timonium | 40 | $12,431,100 |
Baltimore accounts for 104 approvals against 87 in Owings Mills. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Baltimore city
How big is Baltimore city
- Land area81 sq mi
- Rank by land area among Maryland independent cities24th of 24
- Width, east to west9.8 mi
- Height, north to south12.1 mi
- Geographies sharing a boundary2
- Residents per square mile of land7,077
- Establishments per square mile152.88
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Baltimore city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Baltimore city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population573,243
- Households255,668
- Average household size2.24
- Median household income$62,177
- Median age36.2
Common questions
Baltimore city questions, answered from the record.
How many people live in Baltimore city, Maryland?
573,243, in 255,668 households, ranking 5th of 24 Maryland counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Baltimore city growing?
The population has fallen 2.98 percent since the 2020 census base. In 2024 there were 7,087 births against 6,563 deaths, with net migration of 237. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Baltimore city?
$62,177. The median owner-occupied home is valued at $229,600, which is 3.7 times income, and median gross rent is $1,331 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Baltimore city?
12,383 establishments, employing 301,759 people with an annual payroll of $23.45 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Baltimore city?
Average annual pay is $82,818, or $1,593 a week, across 348,184 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Baltimore city?
973 7(a) approvals totalling $360.8 m since FY2020, across 93 lenders, with a median approval of $100,000, plus 75 504 approvals worth $94.4 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Baltimore city get paid back?
Of the 176 loans that have reached a final outcome, 151 were paid in full and 25 charged off, a charge off rate of 14.2 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Baltimore city?
1,273 housing units were authorised by permit in 2024, with a declared construction value of $297.3 m. Multifamily was 87.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Baltimore city?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Baltimore city come from?
The largest single origin is Baltimore city Non-migrants, with 189,234 households. Arriving households report an average income of $59,968 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Baltimore city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Baltimore city?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.