national
Maryland
metro
district
Maryland
Maryland apartments and their residents contribute
$75.9B
to the
state
economy annually, supporting
324.6K
jobs.
state data
-
Maryland
850.2K
866.4K
Apartment Residents
Spending from Maryland's apartment residents contributes
$67.9B
to the local economy each year (including
$9.4B
in taxes), creating
303K
jobs.
0.0K
463.3K
Apartment Homes
The operation of Maryland's apartment homes contributes
$3.8B
to the local economy each year (including
$1.1B
in property taxes), creating
6K
jobs.
43% 44%
Share of Maryland's Apartments Built Before 1980
The renovation and repair of apartments helps preserve
Maryland’s
older more affordable units, contributing
$1B
to the local economy annually and creating
5K
jobs.
Age of Stock
Before 1959
13%
1960 - 1979
30%
1980 - 1999
25%
2000 or Later
30%
0K
3K
New Apartments Needed Annually
Apartment demand is growing and the industry needs to keep up. However, producing enough new apartments to meet demand requires new development approaches, more incentives and fewer restrictions.
Maryland
needs to build
3K
new apartment homes each year to meet demand.
Apartment construction contributes
$2.7B
to Maryland's economy annually, creating
10K
jobs.
Source: Hoyt Advisory Services; NMHC/NAA; 2022 American Community Survey, U.S. Census Bureau
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