Crofton, 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 Q2 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

Crofton, MD Housing Market Trends

With a population of 28,553, 10,434 total housing units (homes and apartments), and a median house value of $445,032, real estate costs in Crofton 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.

Row houses and other attached homes are the single most common housing type in Crofton, accounting for 48.27% of the town's housing units. Other types of housing that are prevalent in Crofton include single-family detached homes ( 42.45%), large apartment complexes or high rise apartments ( 8.04%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

Owner-occupied, three and four bedroom dwellings, primarily in row houses and other attached homes are the most prevalent type of housing you will see in Crofton. Owner-occupied housing accounts for 79.16% of Crofton's homes, and 68.93% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Crofton 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 Crofton built between 1940-1969 ( 12.77%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.50%).

Crofton Home Appreciation Rates

Crofton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Crofton during the period has been just 2.18%, which is lower than 80% of US communities.

Over the last year, Crofton appreciation rates have trailed the rest of the nation. In the last twelve months, Crofton's appreciation rate has been 6.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Crofton were at 2.57%, which equates to an annual appreciation rate of 10.67%.

Relative to Maryland, our data show that Crofton's latest annual appreciation rate is lower than 80% 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 Crofton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Crofton - 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 Crofton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$445,032

Crofton, MD HOME PRICES

> $1,136,000
0.7%
0.7%
$852,001 - $1,136,000
1.8%
1.8%
$568,001 - $852,000
29.0%
29.0%
$454,001 - $568,000
16.3%
16.3%
$341,001 - $454,000
22.8%
22.8%
$227,001 - $341,000
25.2%
25.2%
$114,001 - $227,000
3.6%
3.6%
$57,001 - $114,000
0.1%
0.1%
$0 - $57,000
0.6%
0.6%
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:
10,434

Crofton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
113.52% 3.59%
8
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,889 / per month

Homeownership Rate

Owners
79.2%
79.2%
Renters
20.8%
20.8%
Vacant
3.0%
3.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
11.5%
11.5%
1970 - 1999
75.6%
75.6%
1940 - 1969
12.8%
12.8%
1939 or Older
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
42.5%
42.5%
Townhomes
48.3%
48.3%
Small Apt. Buildings
1.0%
1.0%
Apt. Complexes
8.0%
8.0%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
2.2%
2.2%
2 Bedrooms
18.1%
18.1%
3 Bedrooms
37.9%
37.9%
4 Bedrooms
31.0%
31.0%
5 or more bedrooms
10.4%
10.4%
0.0% 100.0%
% OF HOMES