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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bel Air, MD Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bel Air, MD Housing Market Trends

With a population of 10,596, 4,897 total housing units (homes and apartments), and a median house value of $412,713, Bel Air real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Bel Air, accounting for 38.77% of the town's housing units. Other types of housing that are prevalent in Bel Air include single-family detached homes ( 35.65%), row houses and other attached homes ( 19.94%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.64%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

People in Bel Air primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Bel Air has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Bel Air built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bel Air built between 1940-1969 ( 29.54%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.72%). There's also some housing in Bel Air built before 1939 ( 2.98%).

Bel Air Home Appreciation Rates

Bel Air's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bel Air during the period has been just 4.65%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Bel Air's appreciation rate, at 6.55%, has been at or slightly above the national average. In the latest quarter, Bel Air's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Maryland, our data show that Bel Air's latest annual appreciation rate is higher than 60% of the other cities and towns in Maryland.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Bel Air differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bel Air - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bel Air real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$412,713

Bel Air, MD Home Prices
> $1,283,000
$963,001 - $1,283,000
$642,001 - $963,000
$513,001 - $642,000
$385,001 - $513,000
$257,001 - $385,000
$128,001 - $257,000
$64,001 - $128,000
$0 - $64,000
0.1%
0.1%
0.4%
0.4%
4.5%
4.5%
23.8%
23.8%
30.1%
30.1%
29.0%
29.0%
9.6%
9.6%
1.4%
1.4%
1.1%
1.1%
0% 100.0%
% of Homes
Low

for Maryland

High

for nation

Number of Homes And Apartments:

4,897

Bel Air Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,830 / per month

Homeownership Rate

Owners
Renters
58.7%
58.7%
41.3%
41.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.4%
3.4%
96.6%
96.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.7%
9.7%
57.8%
57.8%
29.5%
29.5%
3.0%
3.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
35.7%
35.7%
19.9%
19.9%
5.6%
5.6%
38.8%
38.8%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.5%
5.5%
9.6%
9.6%
39.0%
39.0%
31.0%
31.0%
14.1%
14.1%
0.9%
0.9%
0% 100.0%
% of Homes