Baltimore, Maryland Short-Term Rental Market
Baltimore STRs averaged $163/night at 57.6% occupancy in April 2026 across 5,129 active listings.
Quick Answer: Baltimore, Maryland is an active short-term rental market. average occupancy is 58%. average monthly revenue is $2,542. average daily rate is $163. the top operator is Evolve with 89 listings. market score is 62/100 (grade C).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
The Baltimore STR market recorded an average daily rate of $162.91 and occupancy of 57.6% in April 2026, generating average monthly revenue of $2,542 per listing. RevPAR came in at $93.85. The market carries a total market score of 62.0 out of 100, with investability at 68.6 and rental demand at 62.8.
The listing inventory spans 5,129 active units. Entire-place listings account for 3,695 (72.0% of supply), followed by 1,431 private rooms and 3 shared rooms. By bedroom count, 1-bedroom units dominate at 2,487, followed by 2-bedroom (1,075), 3-bedroom (835), 4-bedroom (462), and 5-bedroom-plus (259). Airbnb-only listings account for 3,272 units, while 1,561 operators list on both Airbnb and VRBO, and 296 are VRBO-only.
Year-over-year as of April 2026, occupancy declined 4.65 percentage points, ADR edged up 1.73%, and average monthly revenue rose 1.47%. The longer-term trend shows 2025 annual averages of 57.3% occupancy, $164 ADR, and $2,635 monthly revenue, up from 2019 levels of 58.5% occupancy, $112 ADR, and $1,738 revenue.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 48% | $104 | $1,504 |
| Feb | 57% | $104 | $1,484 |
| Mar | 59% | $116 | $1,836 |
| Apr | 60% | $130 | $2,096 |
| May | 64% | $145 | $2,415 |
| Jun | 66% | $154 | $2,784 |
| Jul | 65% | $149 | $2,598 |
| Aug | 64% | $153 | $2,678 |
| Sep | 60% | $153 | $2,461 |
| Oct | 58% | $157 | $2,567 |
| Nov | 54% | $135 | $2,052 |
| Dec | 53% | $127 | $1,917 |
Top Short-Term Rental Operators in Baltimore
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 89 | 2,367 | ★ 4.32 |
| 2 | ITrip Vacations | 79 | 2,400 | ★ 4.90 |
| 3 | Vacasa | 31 | 503 | ★ 4.70 |
| 4 | PMI Annapolis Property Management Company | 28 | 687 | ★ 4.91 |
| 5 | Professional Tourist | 24 | 349 | ★ 3.90 |
What Kind of STR Should I Buy in Baltimore?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,487 |
| 2 bed | 1,075 |
| 3 bed | 835 |
| 4 bed | 462 |
| 5 bed | 259 |
ADR by Property Tier
| Entire Home | $204 |
| Luxury | $357 |
| Professionally Managed | $254 |
Revenue by Dwelling Type
| Apartment | $2,194 |
| Entire Place | $3,109 |
| House | $2,778 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 63.8% |
| vrbo | 5.8% |
| both | 30.4% |
Investment Analysis
At a typical home value of $191,668 and average monthly revenue of $2,542, a Baltimore area STR generates an estimated gross annual yield of approximately 15.9% (annualized revenue of $30,501 against the typical home value). Baltimore’s relatively low home values create a high yield environment compared to most coastal US markets.
Tier comparisons show significant upside in premium segments. Entire-home listings averaged $203.99/night versus $162.91 for all listings. Professionally managed properties averaged $253.50/night, notably above the market average, suggesting that PM-managed inventory skews toward higher-end or well-positioned properties. Luxury-tier properties commanded $356.92/night. Revenue by property type: entire-place listings averaged $3,109/month, houses $2,778/month, and apartments $2,194/month.
The sale-to-list ratio of 0.947 and median 23 days to pending reflect a balanced purchase market with reasonable time to act. For-sale inventory stands at 2,659 units. The regulation score of 64.2 reflects Baltimore’s strict primary-residence-only licensing regime, which limits supply expansion and may support occupancy stability for compliant operators.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Baltimore STR guests book an average of 37.2 days in advance and stay an average of 4.75 nights. The 37-day lead time provides a roughly five-week pricing window, consistent with a mix of leisure and convention travel that is planned well ahead. The 4.75-night average stay is slightly above the national average, pointing toward multi-night city visits rather than weekend-only demand.
The Inner Harbor, National Aquarium, and major event calendar (Preakness Stakes, Artscape, CIAA Tournament, Orioles and Ravens games) generate concentrated booking spikes. Operators positioned near Camden Yards or the Fell’s Point/Inner Harbor waterfront can use the event calendar to charge premium rates during peak windows while maintaining baseline occupancy through corporate and convention demand.
Short-Term Rental Regulations
Baltimore City requires all short-term rentals (defined as rentals under 90 consecutive nights) to hold a Short-Term Residential Rental License under City Code Article 15, Subtitle 48 (Ordinance 19-217). The license costs $200 and is valid for two years. The property must be the host’s principal residence, deeded in an individual’s name (not a company or LLC), and free of outstanding code violations.
Hosted STRs (owner on-site during guest stays) may apply for new licenses or renewals. Unhosted STRs are a closed category: existing license holders may renew, but no new unhosted licenses are being issued. A host may hold a maximum of two licenses total. A $1,000,000 liability insurance policy is required. Hosts must notify immediate neighbors and provide contact information.
Baltimore’s Hotel Room Tax of 9.5% plus Maryland’s 6% state sales tax applies to short-term rental stays. Airbnb collects and remits these taxes on behalf of hosts. Noncompliance can result in fines up to $500 per violation, license revocation, and up to 10 days’ imprisonment. Enforcement is rated strict, with platforms required to report unlicensed listings. Effective January 1, 2026, Baltimore’s Strengthening Renters’ Safety Act introduced stricter inspection and enforcement requirements applicable to all rental types including STRs.
Market Comparison
Baltimore’s 57.6% occupancy in April 2026 is slightly above the US STR market median of approximately 55%, while its $162.91 ADR is well below the national median of around $220. This positions Baltimore as a volume-driven market where yield comes from relatively low entry costs rather than rate premiums. The 15.9% estimated gross yield significantly exceeds most coastal gateway cities.
Year-over-year, occupancy declined 4.65 percentage points against a backdrop of softening urban STR demand nationally. Revenue growth of 1.47% reflects a market treading water on ADR gains while absorbing occupancy pressure.
The top property managers by listing count are Evolve (89 listings, 2,367 reviews, 4.32 rating), ITrip Vacations (79 listings, 2,400 reviews, 4.90 rating), and Vacasa (31 listings, 503 reviews, 4.70 rating). The top 3 operators manage 199 listings combined, or approximately 3.9% of the 5,129-listing market, indicating a highly fragmented supply base.
Frequently Asked Questions About Baltimore, Maryland
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