•  Three projects delivered in Q1 2018, totaling 790 units. An additional 2,515 units prepare to deliver in the Baltimore Metro, before year-end. Of the 10 projects delivering in 2018, 6 of them are slated to deliver in Baltimore City, totaling 1,380 units.

•  Stabilized vacancy rates registered an uptick by 40 basis points (bps) over the year, ending the quarter at 5.7%. This slight increase is due to the influx of supply observed in the trailing 12-months.

•  For the first time since Q4 2016, Class A rent growth in the Baltimore Metro outpaced Class B. Class A rents increased 2.4% over the year, bringing effective rent to $1,687 per month. Class B rents registered a 1.3% increase over the year, bringing effective rent to $1,271 per month.