What is the average Class A rent in Baltimore?

Around 30 USD/sqft/yr ($30 USD) across the broader Class A index. Trophy submarkets like Harbor East command 20–40% above that.

How many months of rent-free are normal in Baltimore?

14 months on a 10-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Baltimore?

The Baltimore Class A market is currently softening. Vacancy is 21.4%, which sets the negotiating context.

Headline Class A rent in Baltimore is around 30 USD/sqft/yr ($30 USD), with 14 months of typical rent-free on a 10-year term.

Headline Class A rent: 30 USD/sqft/yr ($30 USD).
Trophy submarket rents (Harbor East) push to roughly $36/sqft/yr.
Typical concessions on a 10-year deal: 14 months free rent.
Vacancy stands at 21.4% — market trend is softening.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Baltimore Class A office rents and incentives

Headline Class A rent in Baltimore is around 30 USD/sqft/yr ($30 USD), with 14 months of typical rent-free on a 10-year term.

TL;DR

Headline Class A rent: 30 USD/sqft/yr ($30 USD).
Trophy submarket rents (Harbor East) push to roughly $36/sqft/yr.
Typical concessions on a 10-year deal: 14 months free rent.
Vacancy stands at 21.4% — market trend is softening.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Baltimore are quoted in USD per sqft per year. Across the broad Class A index the figure is 30, but the trophy tier in Harbor East reaches roughly $36/sqft/yr. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Baltimore concessions on a 10-year Class A lease run to 14 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — 21% federal plus Maryland's 8.25% corporate income tax. Baltimore City property tax. Combined effective rate near 28%.

Where rents land by submarket

Harbor East sits at the top end (~$36/sqft/yr). Johns Hopkins / Eastern clears around $28/sqft/yr as the prime tier. Downtown represents the value end at ~$28/sqft/yr. The full submarket map is on the Baltimore city page.

Key facts

city	Baltimore
country	United States
region	Americas
classARentLocal	30 USD/sqft/yr
classARentUsd	$30/sqft/yr
vacancy	21.4%
typicalLeaseYears	10
typicalRentFreeMonths	14
submarkets	5
primeYieldPct	7.2%
trophyRent	$36/sqft/yr
primeRent	$28/sqft/yr

Frequently asked questions

What is the average Class A rent in Baltimore?: Around 30 USD/sqft/yr ($30 USD) across the broader Class A index. Trophy submarkets like Harbor East command 20–40% above that.
How many months of rent-free are normal in Baltimore?: 14 months on a 10-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Baltimore?: The Baltimore Class A market is currently softening. Vacancy is 21.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction