Jessup, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Jessup Neighborhoods Since 2000




Jessup, 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

Jessup Housing Market Information

With a population of 7,501, 683 total housing units (homes and apartments), and a median house value of $292,500, Jessup real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Jessup, accounting for 55.24% of the town's housing units. Other types of housing that are prevalent in Jessup include mobile homes or trailers ( 31.82%), row houses and other attached homes ( 6.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.34%).

Renters dominate Jessup'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 Jessup 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 Jessup built between 1940-1969 ( 34.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.51%).

Vacant housing appears to be an issue in Jessup. Fully 11.64% of the housing stock is classified as vacant. Left unchecked, vacant Jessup homes and apartments can be a drag on the real estate market, holding Jessup 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.

Jessup Home Appreciation Rates

Jessup's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Jessup during the period has been just -1.55%, which is lower than 80% of US communities.

Over the last year, Jessup appreciation rates have trailed the rest of the nation. In the last twelve months, Jessup's appreciation rate has been 0.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Jessup were at -0.51%, which equates to an annual appreciation rate of -2.03%.

Relative to Maryland, our data show that Jessup's latest annual appreciation rate is lower than 80% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$292,500

Jessup, MD HOME PRICES

Value Range
> $1,069,000 0.5
$802,001 - $1,069,000 0.0
$535,001 - $802,000 8.9
$428,001 - $535,000 10.5
$321,001 - $428,000 28.6
$214,001 - $321,000 39.6
$107,001 - $214,000 1.9
$53,001 - $107,000 2.2
$0 - $53,000 7.7

Average for MD
Very High for Nation

Value Relative to Nation Value Relative to State
16.9694128676901 52.2900763358779

Number Of Homes And Apartments:
683

Jessup 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
102.55% 4.18% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,403 / per month

Homeownership Rate

Homeownership
Owners 17.68
Renters 82.32
Vacant 11.64

Housing Market Details

 

Age of Homes

AGE OF Jessup HOMES
2000 or Newer 22.5
1970 - 1999 42.8
1940 - 1969 34.7
1939 or Older 0.0

Types of Homes

TYPE OF Jessup HOMES
Single-Family 55.2
Townhomes 6.6
Small Apt. Buildings 6.3
Apt. Complexes 0.0
Mobile Homes 31.8
Other 0.0

Home Size

SIZE OF Jessup HOMES
No Bedroom 0.00
1 Bedroom 13.97
2 Bedrooms 19.28
3 Bedrooms 52.65
4 Bedrooms 14.10
5 or more bedrooms 0.00