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 67,985, 24,799 total housing units (homes and apartments), and a median house value of $407,040, 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%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and 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'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 2.58%, 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 7.79%, 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 2.60%, which equates to an annual appreciation rate of 10.83%.
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.
Very High for Nation
High for MD