Baltimore City, I'd struggle with. I live and work in the suburbs north of Baltimore (Baltimore County, not Baltimore City). A lot of young professionals I know like to LIVE in Baltimore City, (but only in trendy ($$$) neighborhoods like Federal Hill, Fells Point, the Inner Habor etc.) and COMMUTE to where I live in the suburbs to work in the variety of high-tech and manufacturing companies here.
My issue with Baltimore as opposed to where I grew up in the NYC area, is that Baltimore is extremely stratified yet also is a relatively small city. Whereas in any of the 5 boroughs in NYC you have your 'good' and 'bad' neighborhoods that border each other but have 10-20 blocks of 'transition', whereas in Baltimore that number is more like.... 3.
I'll spare you the various 'Charm City, more like Harm City' jokes, someone already made a comment about the murder rate.
That being said, I absolutely love where I live now in the Hunt Valley area, and will likely be looking to buy a home in the Bel Air region good schools and the buy v rent numbers shake out on the buy side by rule of thumb House Price/Yearly Rent < 16.
So either you can speculate on a 'trendy' rental in one of the downtown districts for young professionals, or speculate on a house in a good school district in the suburbs maybe in Harford county or something where the young professional would want to move their family to before they have money to afford a down payment.
http://www.greatschools.org/maryland/bel-air/harford-county-public-schools/ *shrug*
Disclaimer: I'm by no means a seasoned real estate investor and am not even a first time homeowner yet, just commenting on the area itself.