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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 67,985 people, 24,799 houses or apartments, and a median cost of homes of $393,182, 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 46.42% of the city's housing units. Other types of housing that are prevalent in Gaithersburg include row houses and other attached homes ( 29.77%), single-family detached homes ( 20.93%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.74%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

The most prevalent building size and type in Gaithersburg are three and four bedroom dwellings. The city has a mixture of owners and renters, with 50.93% owning and 49.07% renting.

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 ( 24.43%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.39%). There's also some housing in Gaithersburg built before 1939 ( 1.69%).

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 1.82%, which is lower than 70% 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 4.34%, 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 1.45%, which equates to an annual appreciation rate of 5.92%.

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 higher 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:
$393,182

Gaithersburg, MD HOME PRICES

> $1,096,000
2.6%
2.6%
$822,001 - $1,096,000
4.7%
4.7%
$548,001 - $822,000
16.5%
16.5%
$438,001 - $548,000
19.0%
19.0%
$329,001 - $438,000
23.6%
23.6%
$219,001 - $329,000
18.0%
18.0%
$110,001 - $219,000
12.2%
12.2%
$55,001 - $110,000
2.3%
2.3%
$0 - $55,000
1.3%
1.3%
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:
24,799

Gaithersburg Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
102.77% 3.42%
8
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,240 / per month

Homeownership Rate

Owners
50.9%
50.9%
Renters
49.1%
49.1%
Vacant
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
24.4%
24.4%
1970 - 1999
63.5%
63.5%
1940 - 1969
10.4%
10.4%
1939 or Older
1.7%
1.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
20.9%
20.9%
Townhomes
29.8%
29.8%
Small Apt. Buildings
2.7%
2.7%
Apt. Complexes
46.4%
46.4%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.8%
2.8%
1 Bedroom
16.3%
16.3%
2 Bedrooms
28.0%
28.0%
3 Bedrooms
33.4%
33.4%
4 Bedrooms
15.2%
15.2%
5 or more bedrooms
4.3%
4.3%
0.0% 100.0%
% OF HOMES