Elkridge, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Elkridge Neighborhoods Since 2000




Elkridge, 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

Elkridge Housing Market Information

With a population of 16,799, 6,382 total housing units (homes and apartments), and a median house value of $294,374, Elkridge real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Elkridge, accounting for 39.62% of the town's housing units. Other types of housing that are prevalent in Elkridge include row houses and other attached homes ( 28.95%), large apartment complexes or high rise apartments ( 26.24%), and a few mobile homes or trailers ( 4.03%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elkridge. Owner-occupied housing accounts for 70.35% of Elkridge's homes, and 61.91% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Elkridge 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 Elkridge built between 2000 and later ( 37.49%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.95%). There's also some housing in Elkridge built before 1939 ( 2.62%).

Elkridge Home Appreciation Rates

Elkridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elkridge during the period has been just -1.21%, which is lower than 70% of US communities.

Over the last year, Elkridge appreciation rates have trailed the rest of the nation. In the last twelve months, Elkridge's appreciation rate has been -1.50%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elkridge were at -0.51%, which equates to an annual appreciation rate of -2.03%.

Relative to Maryland, our data show that Elkridge's latest annual appreciation rate is lower than 90% 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 Elkridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elkridge - 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 Elkridge real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$294,374

Elkridge, MD HOME PRICES

Value Range
> $1,047,000 0.0
$785,001 - $1,047,000 0.0
$523,001 - $785,000 9.2
$419,001 - $523,000 13.9
$314,001 - $419,000 27.6
$210,001 - $314,000 33.9
$104,001 - $210,000 9.6
$52,001 - $104,000 2.5
$0 - $52,000 3.3

Average for MD
Very High for Nation

Value Relative to Nation Value Relative to State
16.7877651470761 51.5267175572519

Number Of Homes And Apartments:
6,382

Elkridge 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
91.56% 3.84% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,124 / per month

Homeownership Rate

Homeownership
Owners 70.35
Renters 29.65
Vacant 3.20

Housing Market Details

 

Age of Homes

AGE OF Elkridge HOMES
2000 or Newer 37.5
1970 - 1999 50.9
1940 - 1969 8.9
1939 or Older 2.6

Types of Homes

TYPE OF Elkridge HOMES
Single-Family 39.6
Townhomes 29.0
Small Apt. Buildings 1.2
Apt. Complexes 26.2
Mobile Homes 4.0
Other 0.0

Home Size

SIZE OF Elkridge HOMES
No Bedroom 0.30
1 Bedroom 6.86
2 Bedrooms 27.24
3 Bedrooms 41.91
4 Bedrooms 20.01
5 or more bedrooms 3.69