Median real estate price in the Town Center of Ocean City is $354,010, which is more expensive than 74.5% of the neighborhoods in Maryland and 83.3% of the neighborhoods in the U.S.
The average rental price in Ocean City Town Center is currently $561, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price then 95.3% of Maryland neighborhoods.
Ocean City Town Center is a suburban neighborhood (based on population density) located in Ocean City, Maryland. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Real estate in the Town Center of Ocean City, MD is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Town Center neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Ocean City Town Center. The current real estate vacancy rate here is 85.1%. This is higher than the rate of vacancies in 99.9% of all U.S. neighborhoods. This can sometimes be the case in neighborhoods dominated by seasonal homes (such as vacation areas), and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.