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Real Estate Prices & Overview

Bay Ridge median real estate price is $1,104,037, which is more expensive than 96.1% of the neighborhoods in Maryland and 93.3% of the neighborhoods in the U.S.

The average rental price in Bay Ridge is currently $3,170, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.6% of the neighborhoods in Maryland.

Bay Ridge is a suburban neighborhood (based on population density) located in Annapolis, Maryland. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Bay Ridge real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Bay Ridge neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Bay Ridge are 5.5%, which is lower than one will find in 62.8% of American neighborhoods. Demand for real estate in Bay Ridge is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Bay Ridge neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Bay Ridge is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

People

A majority of the adults in the Bay Ridge neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Maryland by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.4% of the neighborhoods in Maryland. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.

In addition, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 3.7% of America's neighborhoods are wealthier than the Bay Ridge neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.

Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Bay Ridge neighborhood, where 37.5% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 96.2% of the neighborhoods in America.

Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 95.6% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Bay Ridge neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

Diversity

Did you know that the Bay Ridge neighborhood has more Lithuanian and Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Lithuanian ancestry and 0.8% have Croatian ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Bay Ridge neighborhood in Annapolis are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 96.3% of the neighborhoods in America. In addition, 1.5% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 77.1% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Bay Ridge neighborhood, 63.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 22.6% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (11.7%), and 8.3% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Bay Ridge neighborhood is English, spoken by 96.4% of households. Some people also speak Polish (3.9%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Bay Ridge neighborhood in Annapolis, MD, residents most commonly identify their ethnicity or ancestry as German (20.5%). There are also a number of people of Irish ancestry (19.0%), and residents who report English roots (18.6%), and some of the residents are also of Italian ancestry (5.8%), along with some Polish ancestry residents (4.8%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Bay Ridge neighborhood spend between 15 and 30 minutes commuting one-way to work (36.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (59.1%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (11.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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