Rentals are expensive in Owings mills. Townhomes are being put on market for 1500. For that kind of money someone would rather buy the damn thing.
However, on the other hand, the property prices are spiralling downward in Owings mills. Foreclosures abound. I have looked at 3-4 foreclosures and couple of short sales in space of 3 weeks.
Its a very tricky situation. For $1500-$1600 you would rather pay a mortgage. However, are people willing to take the risk of losing equity? If no, then they will rent. But then why rent for that amount in Owings mills? You can also rent in Perry hall which has much better schools or even timonium (for little more).
I suggest looking at couple of properties to get a feel of the area. Ignore any realtor who says "buy now - before deal runs out". We have heard that one before!