Cheverly, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Cheverly Neighborhoods Since 2000




Cheverly, MD Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cheverly Housing Market Information

With 6,485 people, 2,318 houses or apartments, and a median cost of homes of $371,053, 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 75.52% of the town's housing units. Other types of housing that are prevalent in Cheverly include large apartment complexes or high rise apartments ( 22.77%), row houses and other attached homes ( 1.25%).

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 71.08% of Cheverly's homes, and 56.33% 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 56.70% of the town's housing hails from this era. Other housing ages represented in Cheverly include homes built between 1970-1999 ( 25.02%) and housing constructed before 1939 ( 17.49%).

Cheverly Home Appreciation Rates

Cheverly's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cheverly during the period has been just -1.27%, which is lower than 70% of US communities.

Appreciation rates are so strong in Cheverly that despite a nationwide downturn in the housing market, Cheverly real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cheverly appreciation rates continue to be some of the highest in America, at 5.71%, which is higher than appreciation rates in 71.52% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cheverly. Cheverly appreciation rates in the latest quarter were at -0.17%, which equates to an annual appreciation rate of -0.70%.

Relative to Maryland, our data show that Cheverly's latest annual appreciation rate is higher than 80% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$371,053

Cheverly, MD HOME PRICES

Value Range
> $1,259,000 0.7
$944,001 - $1,259,000 0.0
$630,001 - $944,000 1.1
$503,001 - $630,000 6.1
$378,001 - $503,000 36.9
$252,001 - $378,000 43.3
$126,001 - $252,000 9.3
$63,001 - $126,000 0.4
$0 - $63,000 2.1

High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
10.8285479901559 26.3358778625954

Number Of Homes And Apartments:
2,318

Cheverly Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
83.60% 3.59% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,478 / per month

Homeownership Rate

Homeownership
Owners 71.08
Renters 28.92
Vacant 3.50

Housing Market Details

 

Age of Homes

AGE OF Cheverly HOMES
2000 or Newer 0.8
1970 - 1999 25.0
1940 - 1969 56.7
1939 or Older 17.5

Types of Homes

TYPE OF Cheverly HOMES
Single-Family 75.5
Townhomes 1.2
Small Apt. Buildings 0.5
Apt. Complexes 22.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Cheverly HOMES
No Bedroom 0.25
1 Bedroom 6.74
2 Bedrooms 25.56
3 Bedrooms 37.47
4 Bedrooms 18.86
5 or more bedrooms 11.12