Average rent for newer Baltimore-area apartments: $1,500
The average monthly rent for "Class A" apartment complexes in the Baltimore region was $1,500 over the summer, up 1.7 percent from a year earlier, according to new figures from real estate data firm Delta Associates.
Class A is made up of newer apartment buildings with common-space amenities.
Delta Associates measures the "effective" rent, the monthly charge minus any concessions -- like "one month free!" Those concessions are half as valuable now as they were last summer because apartment owners aren't hard-pressed to find tenants. Vacancy is at 3.4 percent.
The average effective rent comes to $1.50 per square foot a month. Renters: How does that compare with your digs? (For that matter, homeowners -- what's your monthly cost per square foot?)
Downtown tenants felt the region's biggest year-over-year increase in monthly rent, according to Delta -- 6.7 percent. The Fells Point/Inner Harbor increase was 3 percent.
Rents increased 2.6 percent in the suburban communities south of Baltimore, while north of Baltimore, rents actually dropped 1.1 percent, Delta says.
What's happening in your neighborhood?