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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.



Laurel, 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

Laurel, MD Housing Market Trends

With 29,352 people, 11,517 houses or apartments, and a median cost of homes of $437,754, Laurel 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 Laurel, accounting for 42.15% of the city's housing units. Other types of housing that are prevalent in Laurel include row houses and other attached homes ( 29.25%), single-family detached homes ( 24.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.58%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

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

There is a lot of housing in Laurel 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 Laurel built between 2000 and later ( 26.88%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.11%). There's also some housing in Laurel built before 1939 ( 7.80%).

Laurel Home Appreciation Rates

Real estate appreciation rates in Laurel's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.69% during the period.

Over the last year, Laurel appreciation rates have trailed the rest of the nation. In the last twelve months, Laurel's appreciation rate has been 4.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Laurel were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Maryland, our data show that Laurel's latest annual appreciation rate is lower 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 city. Individual neighborhoods within Laurel differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Laurel - 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 Laurel real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$437,754

Laurel, MD Home Prices
> $1,259,000
$945,001 - $1,259,000
$630,001 - $945,000
$504,001 - $630,000
$378,001 - $504,000
$251,001 - $378,000
$126,001 - $251,000
$63,001 - $126,000
$0 - $63,000
1.2%
1.2%
1.9%
1.9%
13.8%
13.8%
15.1%
15.1%
39.6%
39.6%
19.8%
19.8%
6.1%
6.1%
0.7%
0.7%
1.8%
1.8%
0% 100.0%
% of Homes
Average

for Maryland

High

for nation

Number of Homes And Apartments:

11,517

Laurel Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,520 / per month

Homeownership Rate

Owners
Renters
44.0%
44.0%
56.0%
56.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.9%
7.9%
92.1%
92.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
26.9%
26.9%
51.2%
51.2%
14.1%
14.1%
7.8%
7.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
24.0%
24.0%
29.3%
29.3%
4.6%
4.6%
42.1%
42.1%
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
4.3%
4.3%
19.3%
19.3%
30.7%
30.7%
28.7%
28.7%
12.5%
12.5%
4.6%
4.6%
0% 100.0%
% of Homes