The housing in the state of Maryland is quite expensive, with a median value of $388,100. This is significantly higher than the US median house value of $338,100. The US has seen a 1 year house appreciation of 8.27%, but the Maryland state only saw 6.54%. This indicates that although housing prices are on the rise in most states, they may not be increasing as quickly or drastically in the state of Maryland. For those looking to purchase a home in this area, it may be more difficult to find an affordable option due to inflated prices.
The median home cost in Maryland is $388,100. Home appreciation the last 10 years has been 55.8%. Home Appreciation in Maryland is up 10.7%.
Average Age of Homes
- The median age of Maryland real estate is 40 years old
The Rental Market in Maryland
- Renters make up 29.6% of the Maryland population
- 1.7% of houses and apartments in Maryland, 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.