Rockville appreciation rates and housing market information

Rockville housing market information

With 47,257 people, 17,794 houses or apartments, and a median cost of homes of $450,195, Rockville house prices are not only among the most expensive in Maryland, Rockville real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Rockville, accounting for 58.94% of the city's housing units. Other types of housing that are prevalent in Rockville include large apartment complexes or high rise apartments (23.40%), row houses and other attached homes (15.48%), and a few duplexes, homes converted to apartments, or other small apartment buildings (2.03%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Rockville. Owner-occupied housing accounts for 65.83% of Rockville's homes, and 61.06% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Rockville's housing was primarily built during this period, from the '40s through the '60s. A full 52.78% of the city's housing hails from this era. Other housing ages represented in Rockville include homes built between 1970-1994 (36.07%), and housing constructed from 1995 and later (7.35%). There's also some housing in Rockville built between 1939 and earlier (3.80%).

Rockville home appreciation rates

In the last 10 years, Rockville has experienced some of the highest home appreciation rates of any community in the nation. Rockville real estate appreciated 110.52% over the last ten years, which is an average annual home appreciation rate of 11.05%, putting Rockville in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Rockville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Rockville appreciation rates have trailed the rest of the nation. In the last twelve months, Rockville's appreciation rate has been -8.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rockville were at -0.66%, which equates to an annual appreciation rate of -2.64%.

Notably, Rockville's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Maryland, our data show that Rockville's latest annual appreciation rate is higher than 27% 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 Rockville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rockville - 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 1990, to assist you in making the best Rockville real estate investment or home purchase decisions.