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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Chevy Chase, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Chevy Chase, MD Housing Market Trends

With a population of 2,855, 981 total housing units (homes and apartments), and a median house value of $1,698,930, Chevy Chase house prices are not only among the most expensive in Maryland, Chevy Chase real estate also is some of the most expensive in all of America.

Chevy Chase is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Chevy Chase than is found in 98% of the communities in America.

The large homes that make up Chevy Chase are primarily owner-occupied ( 96.74%).

The housing in Chevy Chase was primarily built before 1939 ( 70.65%), making the housing stock in Chevy Chase some of the oldest overall in America, although there is a range of ages of homes in Chevy Chase. The next most important housing age is between 1940-1969 ( 15.18%), followed by between 2000 and later ( 10.45%). There's also some housing in Chevy Chase built between 1970-1999 ( 3.72%).

Chevy Chase Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Chevy Chase, where house values have increased just 37.15%, which is annualized rate of 3.21%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Chevy Chase's appreciation rate, at 3.64%, has been at or slightly above the national average. In the latest quarter, Chevy Chase's appreciation rate has been 4.78%, which annualizes to a rate of 20.52%.

Importantly, this makes Chevy Chase one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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

Average Home Values

Median Home Value

$1,698,930

Chevy Chase, MD Home Prices
> $1,204,000
$903,001 - $1,204,000
$603,001 - $903,000
$481,001 - $603,000
$361,001 - $481,000
$241,001 - $361,000
$120,001 - $241,000
$60,001 - $120,000
$0 - $60,000
82.9%
82.9%
9.8%
9.8%
4.3%
4.3%
0.7%
0.7%
0.5%
0.5%
0.0%
0.0%
1.3%
1.3%
0.0%
0.0%
0.5%
0.5%
0% 100.0%
% of Homes
Very High

for Maryland

Very High

for nation

Number of Homes And Apartments:

981

Chevy Chase Appreciation Rates

Rent & Ownership

Average Market Rent:

$5,046 / per month

Homeownership Rate

Owners
Renters
Vacant
96.7%
96.7%
3.3%
3.3%
1.4%
1.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.5%
10.5%
3.7%
3.7%
15.2%
15.2%
70.7%
70.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
99.4%
99.4%
0.6%
0.6%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
0.0%
0.0%
0.5%
0.5%
25.9%
25.9%
31.1%
31.1%
42.5%
42.5%
0% 100.0%
% of Homes