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
With 8,667 people, 2,998 houses or apartments, and a median cost of homes of $146,503, Frostburg real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Frostburg homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Frostburg, accounting for 48.61% of the city's housing units. Other types of housing that are prevalent in Frostburg include large apartment complexes or high rise apartments ( 19.88%), duplexes, homes converted to apartments or other small apartment buildings ( 19.85%), and a few row houses and other attached homes ( 9.43%).
Renters dominate Frostburg's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
There is a lot of housing in Frostburg 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 Frostburg built before 1939 ( 29.61%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.35%). There's also some housing in Frostburg built between 2000 and later ( 8.83%).
Vacant housing appears to be an issue in Frostburg. Fully 14.88% of the housing stock is classified as vacant. Left unchecked, vacant Frostburg homes and apartments can be a drag on the real estate market, holding Frostburg real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Frostburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Frostburg during the period has been just -0.86%, which is lower than 70% of US communities.
Over the last year, Frostburg appreciation rates have trailed the rest of the nation. In the last twelve months, Frostburg's appreciation rate has been 0.56%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Frostburg were at -1.77%, which equates to an annual appreciation rate of -6.91%.
Notably, Frostburg's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Maryland, our data show that Frostburg's latest annual appreciation rate is lower than 80% of the other cities and towns in Maryland.
|$730,001 - $973,000||0.0|
|$486,001 - $730,000||1.3|
|$389,001 - $486,000||1.9|
|$292,001 - $389,000||4.7|
|$195,001 - $292,000||21.1|
|$97,001 - $195,000||45.8|
|$49,001 - $97,000||19.9|
|$0 - $49,000||5.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Frostburg HOMES|
|2000 or Newer||8.8|
|1970 - 1999||35.2|
|1940 - 1969||26.3|
|1939 or Older||29.6|
|TYPE OF Frostburg HOMES|
|Small Apt. Buildings||19.8|
|SIZE OF Frostburg HOMES|
|5 or more bedrooms||3.89|