Cheverly, 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 2020. 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

Cheverly, MD Housing Market Trends

With 6,428 people, 2,422 houses or apartments, and a median cost of homes of $418,289, real estate costs in Cheverly 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.

Single-family detached homes are the single most common housing type in Cheverly, accounting for 77.26% of the town's housing units. Other types of housing that are prevalent in Cheverly include large apartment complexes or high rise apartments ( 21.83%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cheverly. Owner-occupied housing accounts for 71.21% of Cheverly's homes, and 68.07% 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. Cheverly's housing was primarily built during this period, from the '40s through the '60s. A full 57.17% of the town's housing hails from this era. Other housing ages represented in Cheverly include homes built between 1970-1999 ( 31.14%) and housing constructed before 1939 ( 11.29%).

Cheverly Home Appreciation Rates

In the last 10 years, Cheverly has experienced some of the highest home appreciation rates of any community in the nation. Cheverly real estate appreciated 70.94% over the last ten years, which is an average annual home appreciation rate of 5.51%, putting Cheverly in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cheverly 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, Cheverly appreciation rates have trailed the rest of the nation. In the last twelve months, Cheverly's appreciation rate has been 4.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cheverly were at 1.54%, which equates to an annual appreciation rate of 6.29%.

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

Relative to Maryland, our data show that Cheverly's latest annual appreciation rate is higher than 70% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$418,289

Cheverly, MD HOME PRICES

> $1,224,000
2.6%
2.6%
$918,001 - $1,224,000
0.9%
0.9%
$612,001 - $918,000
4.4%
4.4%
$490,001 - $612,000
21.4%
21.4%
$367,001 - $490,000
40.6%
40.6%
$245,001 - $367,000
22.9%
22.9%
$122,001 - $245,000
4.0%
4.0%
$61,001 - $122,000
0.2%
0.2%
$0 - $61,000
2.9%
2.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for MD

Value Relative To Nation

Number Of Homes And Apartments:
2,422

Cheverly Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
145.40% 4.37%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,715 / per month

Homeownership Rate

Owners
71.2%
71.2%
Renters
28.8%
28.8%
Vacant
4.0%
4.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
0.4%
0.4%
1970 - 1999
31.1%
31.1%
1940 - 1969
57.2%
57.2%
1939 or Older
11.3%
11.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
77.3%
77.3%
Townhomes
0.4%
0.4%
Small Apt. Buildings
0.6%
0.6%
Apt. Complexes
21.8%
21.8%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.1%
2.1%
1 Bedroom
8.7%
8.7%
2 Bedrooms
14.9%
14.9%
3 Bedrooms
44.5%
44.5%
4 Bedrooms
23.6%
23.6%
5 or more bedrooms
6.3%
6.3%
0.0% 100.0%
% OF HOMES