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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 25,171, 8,527 total housing units (homes and apartments), and a median house value of $420,322, Elkridge real estate prices are well above average cost compared to national prices.
Row houses and other attached homes are the single most common housing type in Elkridge, accounting for 34.71% of the town's housing units. Other types of housing that are prevalent in Elkridge include single-family detached homes ( 32.38%), large apartment complexes or high rise apartments ( 29.71%), and a few mobile homes or trailers ( 1.65%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
The most prevalent building size and type in Elkridge are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The town has a mixture of owners and renters, with 63.49% owning and 36.51% renting.
Elkridge homes and real estate are some of the newest in America. 51.85% of Elkridge's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Elkridge real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 38.39%), and between 1940-1969 ( 5.88%). There's also some housing in Elkridge built before 1939 ( 3.88%).
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 3.85%, which is lower than 80% 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 3.56%, 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 -2.20%, which equates to an annual appreciation rate of -8.51%.
Notably, Elkridge's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Maryland, our data show that Elkridge'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 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.
$3,101 / per month