The housing market in Olney, MD (zip code 20832) is quite strong compared to the US median value of $338,100. The median value in this area is $581,700, which is 73% higher than the US house median value. In terms of appreciation rates, the US 1 year house appreciation is 8.27%, while the 1 year appreciation rate for houses in this area is 5.58%. This indicates that homes are appreciating at a slower pace than other areas in the country, but still a healthy rate overall. In conclusion, Olney is an excellent place to invest in real estate as properties here are significantly more valuable than many other places in the US.
The median home cost in Olney (zip 20832) is $581,700. Home appreciation the last 10 years has been 46.2%. Home Appreciation in Olney (zip 20832) is up 11.3%.
Average Age of Homes
- The median age of Olney (zip 20832) real estate is 32 years old
The Rental Market in Olney (zip 20832)
- Renters make up 12.1% of the Olney (zip 20832) population
- 0.6% of houses and apartments in Olney (zip 20832), 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.