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Baltimore ranked 5th best city for buying a fixer-upper

Row houses on Calvert Street in Charles Village
Posted at 11:42 AM, Aug 10, 2022
and last updated 2022-08-10 11:42:31-04

Baltimore is one of the top 10 cities nationwide for those looking for a fixer-upper, according to a new study.

StorageCafe, a storage-space database, recently analyzed the 50 biggest cities to find which are the best for homebuyers searching for a fixer-upper - and Baltimore was ranked No. 5, behind Milwaukee, Philadelphia, Detroit, and Memphis.

A spokesperson for StorageCafe noted:

"Thanks to its large inventory of historic homes, fixer-uppers in Baltimore soar to 25% of the existing homes for sale. A large share compared to Washington, DC, for example (ranked 21st) where only 4% of the available listings appear to be homes in need of repairs. In fact, Baltimore comes 2nd for its share of fixer-uppers. The fixer-upper discount represents about 49% of the listing price, a more than hefty saving. In fact, buying a fixer-upper shaves approx. $102K off the price of a turnkey home here. In line with national trends, fixer-uppers are smaller than standard homes in Baltimore (1,232 sq. ft. on avg. vs. 1,441 sq. ft. on avg. in standard homes)."

The average fixer-upper price in Baltimore was listed as $107,500, cheaper than $145,000 in Philadelphia and just a bit below $109,900 in Memphis.

And, compare that to the average cost of $680,000 in nearby D.C.!

For more information on the study, click here.