If you haven’t considered investing in Annapolis area real estate, you might want to consider the benefits it can provide your real estate portfolio. Annapolis is a historic and desirable city and people love visiting and living here. Investing here can bring a number of rewards.
Local rental property owners understand the advantages the local market offer, and out-of-state investors are increasingly realizing there’s money to be made in rental homes throughout Maryland’s Eastern Shore.
Whether you’re new to investing or full of experience and ideas, we want to tell you some of the reasons why the Annapolis area is the best place to invest in real estate. We’re also sharing some specific locations you should consider when you’re looking for the right rental property.
Annapolis has a Strong and Growing Economy
Ideally located in the mid-Atlantic market, Annapolis is a leader in several industries. With the naval academy providing a lot of employment, we’re still diverse enough to attract other industries. You’ll find education, technology, hospitality, and healthcare jobs that pay well and provide an attractive quality of life for both investors and the tenants who are seeking high quality housing.
The strong economy leads to a pool of well-qualified tenants who are looking for attractive, well-maintained homes in desirable neighborhoods. Annapolis is also emerging as a growing retirement destination, and many older adults don’t want to buy another home; they want to rent.
Best Annapolis Areas to Invest
Investors who are looking for opportunities will want to consider these Annapolis-area communities.
- Odenton. This is where the military base is located, so there’s a high need for rental housing. You can expect high rental prices, great ROI, and immediate tenant turnovers because of the desirability of this neighborhood. At ever lease renewal, you’ll want to re-evaluate the market and potentially increase the rent to meet market rates. Odenton also provides easy proximity to major commuter routes. It’s convenient to work and fun and there’s a great inventory of new construction homes.
- Crofton. This is another community that’s packed with new, high quality homes and close to the most frequently traveled commuter routes. It’s also a great community for tenants. There are good schools and great shopping. Rental prices are higher here, and they will continue rising.
- Pasadena. This community has a lot going for it. People love it, both for its reasonably priced access to waterfront homes and the general energy in the diverse neighborhoods. Pasadena is only about 25 minutes to downtown Annapolis, making this an excellent investment opportunity if you’re looking for a working class tenant pool and affordable investment properties.
- Kent Island. One of the fastest growing areas on the Eastern Shore is Kent Island. There’s a lot of interest from investors because it takes people outside of the crowds and the traffic of the cities. There’s a lot of money that’s been invested in infrastructure, and what was once a quiet little town is becoming a charming village with a great pool of tenants. Rental prices are high, but tenants are willing to pay them.
We’d love to hear more about your unique investment goals so we can talk about opportunities geared towards what you’re looking for. When you’re ready to invest, contact us at Keyrenter Annapolis. We manage single-family and multi-family properties throughout Anne Arundel County, including in Odenton, Crofton, and Pasadena as well as on Kent Island.