The cost of renting is going down
Renters: Are you paying less to live in an apartment than you were a year ago? A year-end report by real estate research firm Delta Associates says average effective rents in the Baltimore metro area -- including concessions, in other words -- are down 1.3 percent from a year earlier, to $1,375 a month.
But that's more a city phenomenon than a suburban one. Rents declined 6.1 percent in the Fells Point/Inner Harbor area and in downtown, where apartments abound.
In the suburbs, the decrease was largest in Columbia -- down almost 1 percent. West and Northwest Baltimore County rents fell 0.3 percent, Anne Arundel County was essentially flat, North and Northeast Baltimore County rents rose 0.8 percent and Harford County rents were up almost 2 percent.
These are so-called Class A apartments, the nicer options out there.
Delta Associates, noting that the pipeline of planned apartments is shrinking, expects that "rent growth is likely to return over the next three years."
Seen any good deals out there?