Maryland's real estate market has been rising in value for the better part of a decade.
If you're looking to get involved in real estate investing, Maryland is a great place to do it. There are loads of opportunities across the state, you just need to know where to look.
In this post, we're going to tell you the best places in Maryland to invest in real estate. Getting started can be the most difficult part, but keep reading and you'll have a good understanding of where the most promising properties and markets are.
Baltimore
To talk about the Maryland property market without mentioning Baltimore would be a huge mistake. As the largest city in Maryland and one of the 30 largest in the country, Baltimore is home to a booming economy.
With Johns Hopkins, T. Rowe Price, and Transamerica all firmly planted in Baltimore, there's no shortage of employment and education. Housing, as well as the cost of living, is much more affordable than in other large cities on the east coast.
Charles Village is a great area to look at properties that provide good rental yield, while Lauraville is an up-and-coming neighborhood rife with house-flipping opportunities.
Columbia
Columbia is a great location for schools, housing, and nightlife. It's a bit more upscale than other areas and most residents own their homes, so house flipping is a better option than renting.
That said, there are 26 colleges in the area, so renting is still possible. The average rent in Columbia is over $1,600, so buying cheap property in a decent neighborhood can end up being a huge moneymaker.
Frederick
The second largest city in Maryland is Frederick, home to thousands of small businesses and corporations. Its booming economy makes it the perfect place to invest in residential or commercial rental property.
A median-priced home will cost about $250,000 and, depending on where it is, you can charge about $1,200 per month in rent. Because it's growing so fast, it's also a great place to make a quick buck by flipping a house.
Germantown
Germantown is technically a suburb of Washington, DC, but it's rated as one of the best places to live in Maryland. It's relatively affordable, especially when you consider the fact that the median sale price of a home in Washington proper is over $1 million.
This is a great area for families with great schools and lots of diversity. It should become a great rental market too, as more people get priced out of DC.
Rockville
Another Washington suburb, Rockville, is also perfect for those who want to live near a big city but not in one. It's got a great mix of single-family homes, condos, and small apartment complexes for investing in.
It's more affordable than most other places in Montgomery County, which makes it the perfect rental market for young families and professionals that work in the big city.
Finding the Best Way to Invest In Real Estate
Now that you know where to invest in real estate, it's time to talk about how you're going to manage your Maryland investment properties. At Home River Group, we're one of the nation's top full-service property managers.
When you're building a portfolio of properties, you need a dedicated service to make sure they're being properly looked after. Contact us today to find out more about our services and how we can help you maximize your Maryland property investments.