Milton-Montford, a vibrant neighborhood in Baltimore, Maryland, has experienced significant changes in its real estate market over the past decade. This area has seen notable fluctuations in homeownership rates and housing prices, reflecting broader economic trends and local market conditions. The homeownership rate in Milton-Montford has shown a marked increase in recent years, rising from 37% in 2013 to 44% in 2022, a 7 percentage point increase. This surge in homeownership coincided with a substantial rise in average home prices, which climbed from $49,324 in 2016 to $116,741 in 2022, representing a remarkable 136% increase over six years.

The relationship between federal interest rates and homeownership rates in Milton-Montford generally follows established trends. As interest rates remained low between 2013 and 2021, ranging from 0.08% to 1.83%, the neighborhood saw a gradual increase in homeownership. This aligns with the principle that lower interest rates make mortgages more affordable, encouraging home buying. The sharp rise in homeownership to 44% in 2022 occurred despite an increase in the federal interest rate to 1.68%, suggesting other local factors may have influenced this trend.

Rental trends in Milton-Montford have shown interesting patterns. The percentage of renter-occupied units decreased from 63% in 2013 to 56% in 2022, mirroring the increase in homeownership. Average rent prices, however, have fluctuated significantly. In 2013, the average rent was $1,916, which increased to a peak of $2,221 in 2018. Interestingly, there was a sharp decline in average rent to $1,113 in 2020, possibly influenced by the COVID-19 pandemic. By 2022, the average rent had slightly increased to $1,270, still well below its peak levels.