Baltimore Targets 13,000 Vacant Homes, Investor Play
The Scope of Baltimore's Vacancy Challenge Baltimore's housing environment faces a significant challenge with widespread vacancies. In 2020, the city had around 16,000 vacant properties, a number that had remained steady for decades. By August 2024, there was a 22% reduction, with vacancies decreasing to 12,510. Despite this progress, approximately 13,000 homes continue to be vacant or abandoned. This decline in vacancy statistics signifies notable change yet highlights persistent challenges. High vacancy rates disproportionately affect majority-Black, low-income neighborhoods, emphasizing stark disparities. Ignoring moisture levels in property renovations could worsen deterioration issues in such areas. The economic impact is substantial, with a $100 million annual tax revenue loss. Additionally, public costs equate to this amount. As part of an effort to address these issues, the Baltimore Vacants Reinvestment Council (BVRC) was established in October 2024 by Governor Wes Mo...