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Gaithersburg, 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 Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Gaithersburg, MD Housing Market Trends

With 69,101 people, 24,713 houses or apartments, and a median cost of homes of $529,897, real estate costs in Gaithersburg are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Maryland communities.

Large apartment complexes or high rise apartments are the single most common housing type in Gaithersburg, accounting for 46.32% of the city's housing units. Other types of housing that are prevalent in Gaithersburg include row houses and other attached homes ( 30.04%), single-family detached homes ( 20.57%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.99%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Gaithersburg primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Gaithersburg has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Gaithersburg 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 Gaithersburg built between 2000 and later ( 28.23%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.97%). There's also some housing in Gaithersburg built before 1939 ( 2.17%).

Gaithersburg Home Appreciation Rates

Gaithersburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Gaithersburg during the period has been just 3.82%, which is lower than 80% of US communities.

Over the last year, Gaithersburg appreciation rates have trailed the rest of the nation. In the last twelve months, Gaithersburg's appreciation rate has been 8.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gaithersburg were at 2.58%, which equates to an annual appreciation rate of 10.71%.

Notably, Gaithersburg's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Maryland, our data show that Gaithersburg's latest annual appreciation rate is lower than 50% 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 city. Individual neighborhoods within Gaithersburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gaithersburg - 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 Gaithersburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$529,897

Gaithersburg, MD HOME PRICES

> $1,260,000
$945,001 - $1,260,000
$630,001 - $945,000
$504,001 - $630,000
$378,001 - $504,000
$252,001 - $378,000
$126,001 - $252,000
$63,001 - $126,000
$0 - $63,000
2.4%
2.4%
3.9%
3.9%
19.6%
19.6%
19.5%
19.5%
21.8%
21.8%
16.2%
16.2%
13.2%
13.2%
2.4%
2.4%
0.9%
0.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for MD

Value Relative To Nation

Number Of Homes And Apartments:
24,713

Gaithersburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
141.67% 3.96%
8
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,519 / per month

Homeownership Rate

Owners
Renters
Vacant
50.3%
50.3%
49.7%
49.7%
5.2%
5.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.2%
28.2%
59.6%
59.6%
10.0%
10.0%
2.2%
2.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
20.6%
20.6%
30.0%
30.0%
3.0%
3.0%
46.3%
46.3%
0.1%
0.1%
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
3.6%
3.6%
16.3%
16.3%
28.5%
28.5%
32.1%
32.1%
14.9%
14.9%
4.6%
4.6%
0.0% 100.0%
% OF HOMES