College Park, 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

College Park, MD Housing Market Trends

With a population of 32,163, 7,407 total housing units (homes and apartments), and a median house value of $403,255, real estate costs in College Park 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 College Park, accounting for 54.49% of the city's housing units. Other types of housing that are prevalent in College Park include large apartment complexes or high rise apartments ( 40.02%), row houses and other attached homes ( 3.09%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.34%).

Renters dominate College Park's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

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. College Park's housing was primarily built during this period, from the '40s through the '60s. A full 42.04% of the city's housing hails from this era. Other housing ages represented in College Park include homes built between 2000 and later ( 23.81%) and housing constructed between 1970-1999 ( 22.87%). There's also some housing in College Park built before 1939 ( 11.29%).

College Park Home Appreciation Rates

In the last 10 years, College Park has experienced some of the highest home appreciation rates of any community in the nation. College Park real estate appreciated 54.79% over the last ten years, which is an average annual home appreciation rate of 4.47%, putting College Park in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, College Park 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, College Park appreciation rates have trailed the rest of the nation. In the last twelve months, College Park's appreciation rate has been 4.34%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in College Park were at 1.44%, which equates to an annual appreciation rate of 5.89%.

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

Relative to Maryland, our data show that College Park's latest annual appreciation rate is lower than 50% 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 College Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in College Park - 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 College Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$403,255

College Park, MD HOME PRICES

> $1,174,000
0.2%
0.2%
$880,001 - $1,174,000
0.1%
0.1%
$587,001 - $880,000
4.3%
4.3%
$469,001 - $587,000
5.7%
5.7%
$352,001 - $469,000
63.5%
63.5%
$235,001 - $352,000
22.8%
22.8%
$117,001 - $235,000
3.0%
3.0%
$59,001 - $117,000
0.2%
0.2%
$0 - $59,000
0.1%
0.1%
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:
7,407

College Park 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
134.52% 4.14%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,597 / per month

Homeownership Rate

Owners
28.3%
28.3%
Renters
71.7%
71.7%
Vacant
8.4%
8.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
23.8%
23.8%
1970 - 1999
22.9%
22.9%
1940 - 1969
42.0%
42.0%
1939 or Older
11.3%
11.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
54.5%
54.5%
Townhomes
3.1%
3.1%
Small Apt. Buildings
2.3%
2.3%
Apt. Complexes
40.0%
40.0%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.8%
4.8%
1 Bedroom
16.7%
16.7%
2 Bedrooms
17.8%
17.8%
3 Bedrooms
24.7%
24.7%
4 Bedrooms
24.6%
24.6%
5 or more bedrooms
11.4%
11.4%
0.0% 100.0%
% OF HOMES