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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.



Leonardtown, 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

Leonardtown, MD Housing Market Trends

With a population of 4,905, 1,507 total housing units (homes and apartments), and a median house value of $562,768, real estate costs in Leonardtown are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Maryland communities.

Leonardtown is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Leonardtown than is found in 98% of the communities in America.

Not only is Leonardtown's real estate primarily composed of large, four, five or more bedroom residences ( 52.96%), but it has a blend of both renters and owners ( 50.86% renters; 49.14% owner occupied).

Leonardtown homes and real estate are some of the newest in America. 74.46% of Leonardtown's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Leonardtown real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 15.34%), and between 1940-1969 ( 9.42%).

Leonardtown Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Leonardtown, where house values have increased just 46.19%, which is annualized rate of 3.87%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Leonardtown that despite a nationwide downturn in the housing market, Leonardtown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Leonardtown appreciation rates continue to be some of the highest in America, at 9.14%, which is higher than appreciation rates in 92.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Leonardtown. Leonardtown appreciation rates in the latest quarter were at 2.73%, which equates to an annual appreciation rate of 11.38%.

Importantly, this makes Leonardtown one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Maryland, our data show that Leonardtown's latest annual appreciation rate is higher than 80% of the other cities and towns in Maryland.

Average Home Values

Median Home Value

$562,768

Leonardtown, MD Home Prices
> $1,248,000
$936,001 - $1,248,000
$624,001 - $936,000
$499,001 - $624,000
$374,001 - $499,000
$249,001 - $374,000
$125,001 - $249,000
$62,001 - $125,000
$0 - $62,000
1.0%
1.0%
2.2%
2.2%
28.9%
28.9%
32.3%
32.3%
19.4%
19.4%
8.3%
8.3%
4.4%
4.4%
0.4%
0.4%
3.2%
3.2%
0% 100.0%
% of Homes
High

for Maryland

Very High

for nation

Number of Homes And Apartments:

1,507

Leonardtown Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,286 / per month

Homeownership Rate

Owners
Renters
49.1%
49.1%
50.9%
50.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.0%
9.0%
91.0%
91.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
74.5%
74.5%
15.3%
15.3%
9.4%
9.4%
0.8%
0.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
55.8%
55.8%
12.3%
12.3%
1.8%
1.8%
30.1%
30.1%
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
4.5%
4.5%
9.2%
9.2%
27.9%
27.9%
5.4%
5.4%
31.3%
31.3%
21.7%
21.7%
0% 100.0%
% of Homes