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Baltimore vs Frederick for Rental Property Investing

Side-by-side comparison of Baltimore, MD and Frederick, MD — cap rates, rent, prices, and investment metrics.

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Frederick wins 4–3 across key metrics

Baltimore leads on cash flow (4.87% vs 3.25% cap rate) · Frederick leads on population growth

Metric

Baltimore, MD

Frederick, MD

Est. Cap Rate

4.87%

3.25%

Median Home Price

$230,000

$380,000

Median Monthly Rent

$1,380

$1,680

1% Rule

0.60%

0.44%

GRM

13.9x

18.8x

Price / Income

4.2x

4.6x

Property Tax Rate

1.04%

1.02%

Vacancy Rate

6.8%

4.5%

Population Growth

-0.2% / yr

1.2% / yr

Annual Appreciation

2.3%

3%

Population

570,000

82,000

Median Income

$54,800

$82,400

Baltimore vs Frederick: Which Is Better for Investors?

Cash flow: Baltimore has the edge with an estimated cap rate of 4.87% compared to Frederick's 3.25%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $230,000 in Baltimore vs $380,000 in Frederick, while rents come in at $1,380/mo and $1,680/mo respectively.

Growth & appreciation: Frederick is growing faster at 1.2% annually, while Baltimore is losing population. Frederick leads on home value appreciation at 3% per year.

Costs & risk: Property taxes are 1.04% in Baltimore vs 1.02% in Frederick. Vacancy rates of 6.8% and 4.5% are mixed — Frederick has the tighter rental market.

Bottom line: Frederick edges out Baltimore on most key metrics. While cap rates are moderate at 3.25%, Frederick's overall profile is stronger. Use our free calculators to model specific deals in Baltimore or Frederick.

Baltimore, MD

4.87% cap rate · $230,000 median · $1,380/mo

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Frederick, MD

3.25% cap rate · $380,000 median · $1,680/mo

Full analysis →

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