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Across metro area, slowing population growth is not a trend unique to Baltimore City

  • ​While annual population growth moved negative in the latest estimates for Baltimore City, the rest of the metro area has witnessed slowing trends as well. The annual growth rate overall has fallen in half from 0.8% in 2014, to 0.4% in 2016. Howard and Anne Arundel County remain the primary drivers of population growth, accounting for 66% of the metro areas net growth in 2016.
  • Performance in the office sector has followed the region’s population trends. Office absorption peaked in 2014 at 1.3 m.s.f., and has declined since then to nearly 300,000 s.f. in 2017.
  • Office dynamics have followed population trends broadly, but Baltimore’s industrial warehouse sector posted record net absorption of 7.1 m.s.f. over the past year. Regional and super-regional distribution users attracted to Baltimore’s road infrastructure, port access and strategic position in the Northeast Corridor have driven warehousing demand, despite slowing population trends locally. ​

Source: JLL Research, American Community Survey 5-year Data​

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