Baltimore city, Maryland: commercial real estate data.
Baltimore city, Maryland had an estimated 568,271 residents on July 1, 2024, down 3.0 percent since the 2020 census base of 585,720, across 81 square miles. County output reached $65.58 bn in 2024, 12,383 establishments operate here, and the SBA record carries 615 7(a) approvals worth $246.4 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Baltimore city
How many people live in Baltimore city
- Population, American Community Survey 2020-2024573,243
- 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-equivalents, Puerto Rico included123rd of 3,222
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 moderately unaffordable 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's population growing?
- Population, July 1, 2024568,271
- Census 2020 base population585,720
- Population change since the 2020 census base-2.98 percent
- Population change, 2023 to 2024754
- 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 of 3,144
The county has lost 2.98 percent of its population since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Baltimore city
Where are people moving to Baltimore city from?
- Tax returns filed by households arriving19,121
- People arriving, from those returns28,126
- Tax returns filed by households leaving21,938
- Net household movement-2,817
- Adjusted gross income arriving$1.15 bn
- Net adjusted gross income movement$-603.4 m
- Average income of an arriving household$59,968
- Average income of a leaving household$79,773
- Largest single originBaltimore County (6,003 households)
- Largest single destinationBaltimore County (7,895 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Baltimore County | 6,003 | 10,135 | $308.1 m |
| Anne Arundel County | 1,339 | 1,983 | $72.0 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 |
| District of Columbia | 576 | 778 | $48.2 m |
| Harford County | 497 | 760 | $27.9 m |
| Philadelphia County | 206 | 273 | $12.7 m |
Households arriving report $19,805 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Baltimore County, 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 is the Baltimore city economy?
- 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 the Maryland areas BEA publishes4th of 24
- Rank by GDP among the US county areas BEA publishes84th of 3,127
- 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
Employment by industry in Baltimore city
- Covered employment, annual average348,184
- Establishments reporting14,856
- Average annual pay$82,818
- Average weekly wage$1,593
- Health care and social assistance, employment74,996
- Health care and social assistance, average annual pay$79,023
- Educational services, employment28,672
- Educational services, average annual pay$93,834
- Professional, scientific and technical services, employment21,816
- Professional, scientific and technical services, average annual pay$121,093
- Administrative and support and waste management services, employment21,591
- Administrative and support and waste management services, average annual pay$52,505
- Accommodation and food services, employment20,484
- Transportation and warehousing, employment20,002
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 74,996 | 1,912 | $79,023 |
| Educational services | 28,672 | 365 | $93,834 |
| Professional, scientific and technical services | 21,816 | 2,236 | $121,093 |
| Administrative and support and waste management services | 21,591 | 847 | $52,505 |
| Accommodation and food services | 20,484 | 1,545 | $33,973 |
| Transportation and warehousing | 20,002 | 386 | $53,125 |
| Retail trade | 13,475 | 1,634 | $40,192 |
| Manufacturing | 10,641 | 442 | $79,069 |
Health care and social assistance is the largest private sector at 74,996 jobs, 21.5 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Baltimore city
How many businesses are 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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Baltimore city
Building permits in Baltimore city
- Housing units authorized by permit, 20241,273
- Declared construction value permitted$297.3 m
- Single family units authorized165
- Multifamily units authorized1,108
- Multifamily share of units87.0 percent
- Average declared value per unit$233,513
- Units authorized per 1,000 households5.0
Multifamily is 87.0 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Baltimore city
SBA loans in Baltimore city (7(a) and 504)
- 7(a) approvals recorded615
- 7(a) gross approval dollars$246.4 m
- Average 7(a) approval$400,601
- Median 7(a) approval$125,000
- 10th percentile approval$20,000
- 90th percentile approval$1,148,240
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)7,318
- Jobs per approval11.9
- Distinct 7(a) lenders active72
- Distinct industries receiving approvals175
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer11.9 percent
- Loans on real estate terms73
- Loans on working capital terms, 120 months or shorter501
- Franchise loans39
- Franchise share of approvals6.3 percent
- Leading industry by approval countFull-Service Restaurants (58)
- Most active lenderManufacturers and Traders Trust Company (266)
- 504 approvals recorded62
- 504 gross approval dollars$58.8 m
- Average 504 approval$948,242
- Median 504 approval$583,000
- Distinct CDCs active4
- 504 jobs per approval15.8
- 504 jobs per million dollars approved16.7
- Most active CDCBusiness Finance Group, Inc. (46)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$305.2 m
The average approval of $400,601 sits well above the median of $125,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 11.9 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
SBA loan default and charge-off rates in Baltimore city
Do SBA loans in Baltimore city get paid back?
- Loans with a final outcome recorded109
- Paid in full84
- Charged off25
- Charge-off rate on resolved loans22.9 percent
- Status: Cancelled95
- Status: Exempt from disclosure363
- Status: Paid in full84
- Status: Charged off25
- Status: Committed, not yet disbursed48
Of the 109 loans that have reached a final outcome, 22.9 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.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Baltimore city
SBA lending by place in Baltimore city
- Borrower cities with recorded lending7
- Baltimore, approvals602
- Brooklyn, approvals4
- Gwynn Oak, approvals4
- Rosedale, approvals2
- Curtis Bay, approvals1
- Pikesville, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Baltimore | 602 | $240,895,500 |
| Brooklyn | 4 | $527,000 |
| Gwynn Oak | 4 | $65,200 |
| Rosedale | 2 | $4,072,500 |
| Curtis Bay | 1 | $400,000 |
| Pikesville | 1 | $399,500 |
| Parkville | 1 | $10,000 |
Baltimore accounts for 602 approvals against 4 in Brooklyn. 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 large 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.
Baltimore city
Flood risk in Baltimore city
- Participation of the county's own NFIP community Baltimore, city ofParticipating, community 240087
- Community Rating System class of the county's own communityClass 5
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 5
- Communities carrying a CRS class1
- Radon levels in Baltimore city, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, the City of Baltimore (community 240087), participates in the National Flood Insurance Program and carries Community Rating System class 5, a flood insurance premium discount for policies written there. The EPA places Baltimore city in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 5, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-2024573,243
- 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?
The Census Bureau estimates 568,271 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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's population growing?
The population has fallen 2.98 percent since the 2020 census base of 585,720, to 568,271 on July 1, 2024. 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 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 employment by industry in Baltimore city?
Health care and social assistance is the largest private sector at 74,996 jobs, 21.5 percent of covered employment. Covered employment averages 348,184 jobs at an average annual pay of $82,818, or $1,593 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Baltimore city?
615 7(a) approvals totaling $246.4 m since FY2020, across 72 lenders, with a median approval of $125,000, plus 62 504 approvals worth $58.8 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Baltimore city get paid back?
Of the 109 loans that have reached a final outcome, 84 were paid in full and 25 charged off, a charge-off rate of 22.9 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Baltimore city?
1,273 housing units were authorized 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 County, with 6,003 households. Arriving households report an average income of $59,968 against $79,773 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
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