Annapolis, 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 Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Annapolis, MD Housing Market Trends

With 39,223 people, 15,775 houses or apartments, and a median cost of homes of $527,159, Annapolis house prices are not only among the most expensive in Maryland, Annapolis 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 Annapolis, accounting for 38.21% of the city's housing units. Other types of housing that are prevalent in Annapolis include large apartment complexes or high rise apartments ( 34.31%), row houses and other attached homes ( 21.59%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.89%).

People in Annapolis primarily live in small (one, two or no bedroom) single-family detached homes. Annapolis has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Annapolis 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 Annapolis built between 1940-1969 ( 30.21%). A lesser amount of the housing stock also hails from before 1939 ( 15.52%). There's also some housing in Annapolis built between 2000 and later ( 13.38%).

Annapolis Home Appreciation Rates

Annapolis's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Annapolis during the period has been just 2.19%, which is lower than 70% of US communities.

Over the last year, Annapolis appreciation rates have trailed the rest of the nation. In the last twelve months, Annapolis's appreciation rate has been 4.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Annapolis were at 1.60%, which equates to an annual appreciation rate of 6.55%.

Relative to Maryland, our data show that Annapolis'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 Annapolis differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Annapolis - 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 Annapolis real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$527,159

Annapolis, MD HOME PRICES

> $1,138,000
9.6%
9.6%
$853,001 - $1,138,000
10.0%
10.0%
$569,001 - $853,000
19.0%
19.0%
$455,001 - $569,000
16.0%
16.0%
$341,001 - $455,000
17.7%
17.7%
$227,001 - $341,000
16.6%
16.6%
$114,001 - $227,000
9.4%
9.4%
$57,001 - $114,000
0.5%
0.5%
$0 - $57,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MD

Value Relative To Nation

Number Of Homes And Apartments:
15,775

Annapolis Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
114.47% 3.66%
9
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,227 / per month

Homeownership Rate

Owners
51.0%
51.0%
Renters
49.0%
49.0%
Vacant
8.9%
8.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
13.4%
13.4%
1970 - 1999
40.9%
40.9%
1940 - 1969
30.2%
30.2%
1939 or Older
15.5%
15.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
38.2%
38.2%
Townhomes
21.6%
21.6%
Small Apt. Buildings
5.9%
5.9%
Apt. Complexes
34.3%
34.3%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.7%
1.7%
1 Bedroom
15.7%
15.7%
2 Bedrooms
31.7%
31.7%
3 Bedrooms
34.0%
34.0%
4 Bedrooms
12.4%
12.4%
5 or more bedrooms
4.5%
4.5%
0.0% 100.0%
% OF HOMES