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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.



Damascus, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Damascus, MD Housing Market Trends

With a population of 17,224, 5,716 total housing units (homes and apartments), and a median house value of $654,101, Damascus house prices are not only among the most expensive in Maryland, Damascus real estate also is some of the most expensive in all of America.

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

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Damascus. Owner-occupied housing accounts for 91.71% of Damascus's homes, and 72.64% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Damascus 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 Damascus built between 1940-1969 ( 14.66%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.27%). There's also some housing in Damascus built before 1939 ( 2.97%).

Damascus Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Damascus, where house values have increased just 44.09%, which is annualized rate of 3.72%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Damascus appreciation rates have trailed the rest of the nation. In the last twelve months, Damascus's appreciation rate has been 4.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Damascus were at 0.00%, which equates to an annual appreciation rate of 0.00%.

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

Average Home Values

Median Home Value

$654,101

Damascus, MD Home Prices
> $1,198,000
$898,001 - $1,198,000
$599,001 - $898,000
$479,001 - $599,000
$359,001 - $479,000
$239,001 - $359,000
$120,001 - $239,000
$60,001 - $120,000
$0 - $60,000
5.1%
5.1%
6.8%
6.8%
31.0%
31.0%
26.4%
26.4%
18.8%
18.8%
7.2%
7.2%
3.1%
3.1%
0.1%
0.1%
1.5%
1.5%
0% 100.0%
% of Homes
Very High

for Maryland

Very High

for nation

Number of Homes And Apartments:

5,716

Damascus Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,454 / per month

Homeownership Rate

Owners
Renters
91.7%
91.7%
8.3%
8.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.5%
3.5%
96.5%
96.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.3%
14.3%
68.1%
68.1%
14.7%
14.7%
3.0%
3.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
75.8%
75.8%
16.0%
16.0%
0.7%
0.7%
7.5%
7.5%
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
0.3%
0.3%
0.8%
0.8%
12.1%
12.1%
33.7%
33.7%
39.0%
39.0%
14.2%
14.2%
0% 100.0%
% of Homes