Baltimore, Maryland
Market
Market Profile:
Baltimore, Maryland and Washington DC are growing towards eachother; combined, this metro area has nearly 10 million inhabitants. Housing in Baltimore, compared to other major coastal cities, is relatively inexpensive.
The Port of Baltimore is ranked in the top 10 of all US ports, generating over $3 billion in annual wages and salaries. Tourism brought over $5.2 billion dollars of revenue to the city in 2014, but it is only one of many industries in the Baltimore economy. The Port of Baltimore is ranked in the top 10 of all US ports, generating over $3 billion in annual wages and salaries. The service economy supports 31% of the Baltimore job market, education and health care contribute to 25% of its economic make up.
As a victim of deindustrialization, many low-skill, high-wage jobs in heavy industry and manfacturing left Baltimore during the 20th century. A long list of colleges and universities in the city get credit for a growing technology sector in Baltimore. Today, approximately all quarter of jobs in Baltimore are tech jobs.
Quick Facts:
- Situated on the Patapsco River, near its mouth at Chesapeake Bay
- Baltimore is an “Independent City” recognized by the Maryland Constitution, it is not part of Baltimore County
- An easy 40-mile train commute is increasingly making Baltimore a bedroom community for Washington, DC
- Washington, DC and Baltimore together form a combined MSA of nearly 10 million
Population: 585,708
Metro Size: 2,844,510
Combined Metro: ~10 Million
GDP Per Capita: $59,079
Area: 92.05 mi2
Elevation: 139 ft
Region: Mid-Atlantic
Time Zone: Eastern
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