Laurel, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Laurel Neighborhoods Since 2000




Laurel, MD Real Estate Data


Laurel Housing Market Information

With 26,215 people, 9,934 houses or apartments, and a median cost of homes of $292,954, Laurel real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Laurel, accounting for 42.79% of the city's housing units. Other types of housing that are prevalent in Laurel include row houses and other attached homes ( 27.61%), single-family detached homes ( 24.09%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.51%). 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 Laurel primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Laurel has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Laurel 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 Laurel built between 1940-1969 ( 19.26%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.90%). There's also some housing in Laurel built before 1939 ( 6.79%).

Laurel Home Appreciation Rates

Homes have actually lost value in Laurel over the last then years, as home values have seen a decline of 20.16% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Laurel home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.85%.

NeighborhoodScout's data show that during the latest twelve months, Laurel's appreciation rate, at 5.27%, has been at or slightly above the national average. In the latest quarter, Laurel's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

Relative to Maryland, our data show that Laurel's latest annual appreciation rate is higher than 80% 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 Laurel differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Laurel - 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 Laurel real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$292,954

Laurel, MD HOME PRICES

Value Range
> $1,175,000 0.4
$881,001 - $1,175,000 0.6
$588,001 - $881,000 4.5
$470,001 - $588,000 6.5
$353,001 - $470,000 16.2
$235,001 - $353,000 40.8
$117,001 - $235,000 27.1
$59,001 - $117,000 1.6
$0 - $59,000 2.4

Average for MD
Very High for Nation

Value Relative to Nation Value Relative to State
17.5557767757803 52.851711026616

Number Of Homes And Apartments:
9,934

Rent & Ownership

 

Average Market Rent:
$1,650 / per month

Homeownership Rate

Homeownership
Owners 46.47
Renters 53.53
Vacant 6.58

Housing Market Details

 

Age of Homes

AGE OF Laurel HOMES
2000 or Newer 18.9
1970 - 1999 55.0
1940 - 1969 19.3
1939 or Older 6.8

Types of Homes

TYPE OF Laurel HOMES
Single-Family 24.1
Townhomes 27.6
Small Apt. Buildings 5.5
Apt. Complexes 42.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Laurel HOMES
No Bedroom 2.44
1 Bedroom 21.30
2 Bedrooms 31.72
3 Bedrooms 29.59
4 Bedrooms 10.31
5 or more bedrooms 4.65

Laurel Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
73.97% 3.31% 7 9
* 10 is highest