For a relatively small coastal state, Maryland has an incredibly diverse landscape with a variety of urban, suburban, and rural communities. Small cities are tucked away throughout the state, while bedroom communities form a densely populated corridor between Baltimore and DC. As private lenders in Maryland offering both short-term and long-term real estate investment loans nationwide, we know a thing or two about our local market. Here are the best places to invest in real estate in the state of Maryland:
Maryland’s largest city and the 30th-largest city in the United States, Baltimore is a massive area for opportunity. Home to Johns Hopkins, Under Armour, T. Rowe Price, and Transamerica among other large corporations, Baltimore has a lot of job prospects. Due to a lower cost of living than other cities along the east coast, Baltimore has a tendency to attract young professionals to its vibrant neighborhoods and active nightlife. This gives rise to a strong rental market throughout much of the city.
As Baltimore continues to grow and evolve, real estate investors will have a big part in revitalizing parts of the city by rehabbing its older homes. Neighborhoods like Station North, Charles Village, and Pigtown are seeing rapid development – and there’s plenty of room for more.
Routinely named among Money Magazine’s Best Small Cities in America, Columbia is the crown jewel of Howard County. Nearby Ellicott City definitely deserves an honorable mention within this list – both are centrally located communities with relatively easy access to both DC and Baltimore. Boasting excellent public schools, low crime, and a great local job market all serve to make Columbia an extremely desirable place to live for young professionals and families.
Designed to be a mixed-income community, Columbia also has a strong rental market for those who may not be in a position to purchase a home just yet. Residences of all types, from single-family homes to large multifamily complexes, are all present in Columbia, making it an ideal location for investors seeking to diversify their portfolios.
Montgomery County has long been a desirable location for families, and those who want to be near a big city without living in it. Given the proximity to Washington, DC and access to the DC Metro, Rockville is a particularly attractive area for professionals and their families. Rockville is also generally more affordable than other parts of Montgomery County, lending itself nicely to a strong rental market. Single family homes abound, as do condo developments and small apartment complexes. Rockville is a great market for both flipping and long-term investing.
In recent years, Frederick has been undergoing a local renaissance thanks to investment in local businesses and a modernized downtown atmosphere. Young artists have flocked to the region, creating a vibrant community with lots of unique small businesses thriving on Main Street. Nearby Fort Detrick also provides strong rental opportunities as military families frequently move in and out of the area. The revitalized community has brought a growing population along with it, furthering the need for new and rehabilitated single-family homes.
Located directly north of Baltimore City, Towson offers a delightful combination of a city-like atmosphere with suburban amenities. While there is a strong population of homeowners already established in the area, there is a large student and young professional population due to nearby colleges and universities that serve to create a large renting population. With many unique restaurants and shopping locations, Towson is an attractive community that investors should always have an eye on.
Work With a Private Lender in Maryland You Can Trust
Whether you’re investing in one of the areas above, or anywhere else in the state, Pimlico Capital is a Maryland-based private lender that you can trust. Our analysts are well in tune with the local market, and can offer expert guidance as you evaluate deals that might be open to you. If you’re even considering an investment opportunity in our great state, give us a call – we’ll be happy to consult with you regarding the strength of your deal and your funding options for it.
Have a property in mind? Fill out our rate calculator or give us a call at 410-855-4600 today!