Baltimore City could attract more than 20,000 households over the next five years, according to a new report commissioned by Live Baltimore. The report, which was conducted by Zimmerman/Volk Associates on behalf of Live Baltimore, found the city could add between 4,294 and 5,855 housing unit s annually, either for rent or for sale. “This report confirms what we see every day—Baltimore City has incredible assets and real opportunity for growth,” Live Baltimore Executive Director Meghan McCorkell said in a statement. “With the right housing investments, we can welcome new residents, retain current ones, and strengthen neighborhoods across the entire city.” The report estimates that renters would occupy about four-fifths of the total units being added annually, with that group filling between 3,513 to 4,683 units each year. Condominium buyers would purchase 170 to 253 units; rowhouse and townhouse buyers would move into 321 to 481 units; and detached home buyers would occupy 290 to 438 units. About half (51.1%) of the market would be residents relocating from another part of Baltimore City. Meanwhile, 16.5% would be moving from Baltimore County to Baltimore City; 7.7% coming from Anne Arundel, Prince George’s or Howard counties; and 24.7% from other Maryland jurisdictions or other parts of the country, according to the report. New construction and major renovation of properties contribute $505 million to the local Baltimore economy, support about 1,900 jobs, and provide about $125 million of income to the workforce, the report estimates. “Baltimore’s Renaissance is here, and this report tells us what we already know: people want to live, work, and invest here,” Baltimore City Mayor Brandon M. Scott said in a statement. “By continuing to support smart housing development and inclusive growth, we can make sure that every single neighborhood benefits from the historic growth of our city.” As many as 39,025 households of all income levels may consider moving into new and existing housing in Baltimore City annually, including both those seeking to rent or own. Interested households range from young professionals to families to empty nesters, as well as households from outside Baltimore City and the region.  “This report offers critical insight to help guide smart policymaking and housing investment across Baltimore City,” said Maryland Department of Housing and Community Development Secretary Jake Day in a statement. “The Moore-Miller Administration believes that in order for it to be Maryland’s decade, it has to be Baltimore’s time. The findings of the report show the power that lies in aligning housing supply with demonstrated market demand, creating opportunity and shaping the next generation of housing investments across the city.” The study was funded by the City of Baltimore, the Goldseker Foundation, and the Maryland Department of Housing and Community Development. “This analysis moves the conversation from aspiration to action,” said Matthew Gallagher, president and CEO of the Goldseker Foundation, in a statement. “It identifies real market potential and gives policymakers and practitioners a roadmap for housing investments throughout Baltimore.” Live Baltimore plans to use the report’s findings to assist housing development, city planning, and marketing strategies to attract new residents. ...read more read less