The housing market in the Cumberland, MD Metro Area is performing well compared to the average across the United States. The median value of homes in Cumberland, MD Metro Area is $142,100, which is significantly lower than the US House Median Value of $338,100. Despite this significant gap in prices, the rate of House appreciation in the area is very similar to that seen across the US as a whole at 8.40% versus 8.27%. This indicates that homes in this area are increasing in value at roughly the same rate as homes nationally.
The median home cost in Cumberland Metro Area is $142,100. Home appreciation the last 10 years has been 29.4%. Home Appreciation in Cumberland Metro Area is up 11.6%.
Average Age of Homes
- The median age of Cumberland Metro Area real estate is 55 years old
The Rental Market in Cumberland Metro Area
- Renters make up 28.9% of the Cumberland Metro Area population
- 2.3% of houses and apartments in Cumberland Metro Area, 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.