Baltimore real estate vs inflation: did it beat the dollar?
140% × 46%
Updated June 1, 2026 · Redfin · BLS / FRED (CPIAUCNS)
Since 2013, Baltimore real estate is up 140% while U.S. consumer prices rose 46%. Baltimore real estate far outpaced inflation — but the ride was brutal: its worst drop was 47%. Figures in U.S. dollars.
Base 100 since 2013
Why compare Baltimore home prices (US$/m²) and U.S. inflation (CPI-U)
Baltimore generally falls in the mid-to-affordable tier among East Coast metros, with a per-square-meter value below pricier neighbors like Washington and Boston. Its economy rests on healthcare, the port, government and the universities and research institutions in and around the city. The metro was hit by the 2008 housing crash, and parts of it recovered slowly, leaving a market with wide internal variation between sought-after neighborhoods and areas that lagged the broader rebound.
Returns by window
| Window | Baltimore home prices (US$/m²) | U.S. inflation (CPI-U) |
|---|---|---|
| 1 year | 6% | 4% |
| 5 years | 17% | 24% |
| 10 years | 54% | 39% |
| since 2013 | 140% | 46% |
The price of return: risk
| Asset | Annual volatility | Worst drop |
|---|---|---|
| Baltimore real estate | 28% | -47% |
| Inflation (CPI) | 1% | -2% |
$10,000 in each, since 2013
| Asset | Value today |
|---|---|
| Baltimore real estate | $24,016 |
| Inflation (CPI) | $14,553 |
Frequently asked questions
Did Baltimore real estate beat inflation?
Over the period, Baltimore real estate returned 140% while U.S. consumer prices rose 46%. The gap is what the asset earned beyond simply keeping pace with the dollar.
Does this account for the dollar losing value?
Yes. The inflation line is U.S. CPI, the measure of how much purchasing power the dollar lost over the same period. Returns above that line are gains in real terms.
Does a higher return mean a better investment?
Not on its own. A higher return came with higher risk here — the volatility and the largest drop on this page show how much the value swung along the way.
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Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.