The housing market in Cumberland, MD is booming. The median value of homes in the area is $126,500, which is significantly lower than the US median home value of $338,100. However, over the last year, Cumberland has seen an impressive house appreciation rate of 17.95%, compared to the US average of 8.27%. This shows that Cumberland's housing market is robust and that it is an attractive place to invest for those looking for a great return on their investment.
The median home cost in Cumberland is $126,500. Home appreciation the last 10 years has been 29.3%. Home Appreciation in Cumberland is up 11.6%.
Average Age of Homes
- The median age of Cumberland real estate is 74 years old
The Rental Market in Cumberland
- Renters make up 36.2% of the Cumberland population
- 3.4% of houses and apartments in Cumberland, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.