Baltimore is going through an economic revival driven by its traditional powerhouses – higher education, healthcare and biosciences – and by other factors, like the resurgence of the real estate market and an upsurge in tech startups.
The creation of new jobs and an increase in the median income in the metro-wide area, combined with Baltimore’s long-standing popularity as a higher studies destination for college students – all of that led to a tight self-storage vacancy in the metro-wide area.
The Changing Face of Baltimore
Large-scale real estate projects are changing the face of the city and are stimulating economic growth. Let’s take, for example, the massive $5.5 billion Port Covington waterfront redevelopment project. The first phase of this public-private partnership between the city of Baltimore and Port Covington developers, valued at about $700 million, started this spring and will create 1.3 million square feet of office space and almost 980,000 square feet of residential space.
The 2.7 million people living in the Greater Baltimore region are enjoying a dynamic job market, dominated by reputable employers. The region’s top three employers are Johns Hopkins University, Johns Hopkins Medical System and The University of Maryland Medical System. Also, Baltimore was ranked by Forbes as fifth on the list of emerging tech startup cities, after receiving $1 billion in venture capital investment over the past three years.
All of that translates to an addition of new jobs. Baltimore gained about 28,000 jobs in 2018, most of them in professional and business services and the health sector and is expected to add another 18,000 jobs in 2019. The unemployment rate, in June 2019, was in line with the national average, at only 3.8%, according to the US Bureau of Labor Statistics.
Economic Growth Stimulates Self-Storage Demand, Pushes Prices to 4-Year High
The creation of higher-paying jobs increased Baltimore metro’s median household income by 3.1% in 2019; it encouraged the formation of 9,000 new households, and led to a 3% upsurge in retail for the third year in a row, according to a Marcus & Millichap study on the future of self-storage.
Under these circumstances, self-storage in Baltimore remains a hot commodity and the vacancy rate is below 9% for the fifth consecutive year. This trend will continue throughout 2019 in the entire metro area, due to suburban demand outpacing construction and the new supply of storage spaces in Baltimore being absorbed throughout the year. With a population of 600,000, the city of Baltimore serves no less than 135,000 students, another factor that puts pressure on self-storage vacancy rates.
The study mentioned above forecasts a self-storage vacancy rate of only 8.1% in the Baltimore metro by the end of this year. Tight vacancy allowed the average self-storage metro-wide rent to increase by 1.5% in 2019, reaching a four-year-high rate of $1.34 per square foot.
In an effort to respond to the growing demand for self-storage, developers are amping up their game, with more than 500,000 square feet of storage space expected to become available in the Baltimore metro in 2019. This comes after the self-storage industry added another 629,000 square feet of space in Baltimore metro in 2018, the largest annual total in 10 years.
RV Storage Ideas: Smart Solutions for Every Space
The best RV storage ideas work by finding space you already have but aren’t using — under beds, inside cabinet doors, on walls, above entry steps and in the overhead bunk. Most RV owners run out of obvious places quickly, but the real storage capacity in a typical trailer or motorhome comes from vertical surfaces, divided compartments and rethinking what each space was designed for.
Kitchen Cabinet Organization Ideas for Less Chaos
The best way to organize kitchen cabinets is to store items where you actually use them: mugs near the coffee maker, plates close to the dishwasher, spices next to the stove. Small placement decisions like these turn crowded cabinets into functional ones, and they cost nothing to implement.
Where to Donate Clothes in NYC: From Pickup to Mutual Aid
Every year, 200,000 tons of clothing end up in NYC landfills — but yours doesn’t have to. Your unwanted clothes have a real second life waiting. Whether it’s a low-income family needing affordable basics, a woman reentering the workforce looking for interview wear, or an undocumented resident accessing free community support, the donation method you choose matters. Plus, there are plenty of convenient ways to go about it. Local mutual aid groups, free pickup services, mail-in programs, workforce nonprofits, and textile recycling — each one routes your clothes to neighbors and causes that need them most. Here’s where to donate clothes in NYC, according to your plans.
The Best U.S. Metros To Own A Boat
Boating is one of America’s favorite pastimes. According to the National Marine Manufacturers Association, nearly 100 million Americans go boating each year, and recreational boating contributes over $230 billion annually to the U.S. economy. It’s a lifestyle deeply shaped by geography, climate, and local culture.
Packing Tips for Moving in a Hurry: 5 Ways to Speed Things Up
Sometimes a move sneaks up on you and you wind up having to move in a hurry. A job starts sooner than expected, a lease ends abruptly, a sale closes fast, or life simply throws a curveball and suddenly you’re staring at a full house with only days or weeks to empty it. That short timeline can feel overwhelming, but it doesn’t have to mean chaos. With a focused plan and a few smart shortcuts, you can pack up quickly, protect your belongings, and land in your new home without losing your mind.
How to Store Tools Properly: Keep Equipment Rust-Free and Tidy
Good tool storage saves you time, money and the very specific rage of finding a rusted drill you paid good money for. Cleaning, drying and organizing your tools properly keeps them rust-free and findable — and it takes less effort than most people assume. True, nobody wakes up thrilled to organize their tools; it ranks somewhere between cleaning the gutters and reading the terms of service. But here’s how to do it right without the hassle.
Drive-Up Storage Units: Pros, Cons and When They’re Worth It
A drive-up storage unit is a ground-level space with an exterior roll-up door, a lot like a detached garage. Units are usually arranged in rows with wide, paved aisles between them, so you can pull a car, van, or moving truck directly up to your door during access hours. The key feature is the access, and it comes in a few forms:
2026’s Best Cities for Roommates: Irvine, CA And Atlanta, GA, Lead In Shared Living Gains
Americans sharing a two-bedroom apartment instead of renting a one-bedroom alone can save, on average, about $6,700 per year. In some of the country’s most expensive cities, including Irvine, California, or Jersey City, New Jersey, the savings gap widens to around $13,000. For a growing share of renters, living with roommates is less of a lifestyle arrangement and more a conscious financial strategy.
How to Organize Your Kitchen Drawers: Smart, Practical Ideas That Make a Real Difference
The best way to organize your kitchen drawers boils down to a few core principles: give each drawer a specific role, store items close to where you use them, and choose organizers only after you’ve decluttered. Most kitchen drawers aren’t cluttered because of a genuine lack of space but because no one decided what belongs where. Fix that first, and the rest becomes much easier.