Inner Harbor, Baltimore, MD—21202
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Inner Harbor, Baltimore, MD
As of Oct '25, the median home price in Inner Harbor, Baltimore, MD is $188,000, with a year-over-year change of -1.1%. This indicates that home prices in Inner Harbor, Baltimore, MD are decreasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $188,000 | -1.1% |
| Single Family | $173,000 | -1.1% |
| Condos | $214,000 | 0.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $162,000 | -1.2% |
2 Bed | $254,000 | -2.3% |
3 Bed | $248,000 | 0.0% |
4 Bed | $270,000 | 1.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Inner Harbor, Baltimore, MD
As of July '25, Rentcast reports the average rent in Inner Harbor, Baltimore, MD is $1,680, with a year-over-year rent change of -22.6%. Per bedroom, the median rent as of July '25 in Inner Harbor, Baltimore, MD is studios: $1,060, 1-bedrooms: $1,480, 2-bedrooms: $2,210, 3-bedrooms: $2,430, 4-bedrooms: $2,930. The most common rental property sizes in Inner Harbor, Baltimore, MD are 1-bedroom and 2-bedroom, accounting for 47.8% and 26.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,460 | $1,680 |
| Studio Rent | $1,000 | $1,060 |
| 1 Bed Rent | $1,430 | $1,480 |
| 2 Bed Rent | $1,990 | $2,210 |
| 3 Bed Rent | $2,000 | $2,430 |
| 4 Bed Rent | $2,200 | $2,930 |
% of Rental Stock
Property Listings — Inner Harbor, Baltimore, MD
As of Oct '25, Realtor.com reports that the median days on market for a home in Inner Harbor, Baltimore, MD is 63. This is a increase of 16.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $245,000 | -13.0% |
Listing Count | 135 | 44.0% |
| Listings as % of Homes | 0.5% | 44.0% |
Days on Market | 63 | 16.0% |
Demographics — Inner Harbor, Baltimore, MD
As of the latest ACS Survey released in 2023, Inner Harbor, Baltimore, MD has a population of 21,500, which has increased by 2.4% over the past 5 years. Inner Harbor, Baltimore, MD is a less popular place for families, as children make up 11.1% of the population. The area has a highly educated workforce, with 48.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,500 | 2.4% |
% Under 18 | 11.1% | 0.0% |
% Seniors | 9.1% | 8.3% |
% WFH | 20.3% | 341.3% |
% w/ College Degree | 48.3% | 26.1% |
As of the latest ACS Survey released in 2023, Inner Harbor, Baltimore, MD is a predominantly black area, with 53.0% of the population identifying as black. The black population has shrunk by 9.4% in the last 5 years. The second most common race or ethnicity in Inner Harbor, Baltimore, MD is white, making up 31.1% of the population. Foreign-born residents account for 11.6% of the population in Inner Harbor, Baltimore, MD, and this percentage has increased by 27.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 31.1% | 2.6% |
% Black | 53.0% | -9.4% |
% Hispanic | 7.2% | 71.4% |
% Asian | 5.0% | 8.7% |
% Foreign Born | 11.6% | 27.5% |
Mortgage and Risk — Inner Harbor, Baltimore, MD
According to HUD data as of 2023, there were 116 mortgage originations in Inner Harbor, Baltimore, MD, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Inner Harbor, Baltimore, MD. Investor activity is low, as 8.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 116 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Inner Harbor, Baltimore, MD
As of 2024, the percent of homes in Inner Harbor, Baltimore, MD under the Section 8 program is 17.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Inner Harbor, Baltimore, MD, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 2,588 |
Total Units Section 8 | 1,704 |
% Rentals under Section 8 | 17.3% |
% Occupied Section 8 | 87.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $380 | $1,430 | $1,810 |
| 2 Bedroom | $230 | $1,990 | $2,220 |
| 3 Bedroom | $860 | $2,000 | $2,860 |
| 4 Bedroom | $990 | $2,200 | $3,190 |
Affordability — Inner Harbor, Baltimore, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $188,000 |
| Median Household Income | $61,600 |