Elkton, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Elkton, 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

Elkton Housing Market Information

With 15,782 people, 5,497 houses or apartments, and a median cost of homes of $224,004, Elkton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Elkton, accounting for 42.69% of the town's housing units. Other types of housing that are prevalent in Elkton include large apartment complexes or high rise apartments ( 28.29%), row houses and other attached homes ( 17.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.36%).

The most prevalent building size and type in Elkton are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 49.52% owning and 50.48% renting.

There is a lot of housing in Elkton 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 Elkton built between 2000 and later ( 27.81%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.81%). There's also some housing in Elkton built before 1939 ( 14.96%).

Elkton Home Appreciation Rates

Elkton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elkton during the period has been just -2.02%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Elkton's appreciation rate, at 3.75%, has been at or slightly above the national average. In the latest quarter, Elkton's appreciation rate has been 0.08%, which annualizes to a rate of 0.32%.

Relative to Maryland, our data show that Elkton's latest annual appreciation rate is higher than 70% 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 Elkton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elkton - 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 Elkton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$224,004

Elkton, MD HOME PRICES

Value Range
> $1,060,000 0.1
$795,001 - $1,060,000 0.0
$530,001 - $795,000 0.5
$424,001 - $530,000 2.3
$318,001 - $424,000 11.4
$212,001 - $318,000 33.6
$106,001 - $212,000 45.7
$53,001 - $106,000 4.5
$0 - $53,000 1.9

Low for MD
High for Nation

Value Relative to Nation Value Relative to State
26.9717567092465 72.5190839694656

Number Of Homes And Apartments:
5,497

Elkton 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
47.92% 2.30% 3 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,433 / per month

Homeownership Rate

Homeownership
Owners 49.52
Renters 50.48
Vacant 9.91

Housing Market Details

 

Age of Homes

AGE OF Elkton HOMES
2000 or Newer 27.8
1970 - 1999 40.4
1940 - 1969 16.8
1939 or Older 15.0

Types of Homes

TYPE OF Elkton HOMES
Single-Family 42.7
Townhomes 17.7
Small Apt. Buildings 11.4
Apt. Complexes 28.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Elkton HOMES
No Bedroom 2.15
1 Bedroom 9.54
2 Bedrooms 28.42
3 Bedrooms 38.43
4 Bedrooms 17.63
5 or more bedrooms 3.83