Laurel, 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

Laurel, MD Housing Market Trends

With 25,631 people, 9,740 houses or apartments, and a median cost of homes of $294,068, 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 44.28% of the city's housing units. Other types of housing that are prevalent in Laurel include row houses and other attached homes ( 27.41%), single-family detached homes ( 23.21%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.10%). 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 2000 and later ( 22.22%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.69%). There's also some housing in Laurel built before 1939 ( 6.13%).

Laurel Home Appreciation Rates

Real estate appreciation rates in Laurel's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.67% during the period.

Over the last year, Laurel appreciation rates have trailed the rest of the nation. In the last twelve months, Laurel's appreciation rate has been 4.33%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Laurel were at 1.44%, which equates to an annual appreciation rate of 5.87%.

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

Relative to Maryland, our data show that Laurel's latest annual appreciation rate is lower than 60% 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:
$294,068

Laurel, MD HOME PRICES

> $1,112,000
0.2%
0.2%
$834,001 - $1,112,000
0.3%
0.3%
$556,001 - $834,000
6.2%
6.2%
$445,001 - $556,000
9.2%
9.2%
$334,001 - $445,000
22.5%
22.5%
$223,001 - $334,000
41.7%
41.7%
$111,001 - $223,000
16.4%
16.4%
$56,001 - $111,000
1.8%
1.8%
$0 - $56,000
1.6%
1.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for MD

Value Relative To Nation

Number Of Homes And Apartments:
9,740

Laurel 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
100.48% 3.37%
8
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,958 / per month

Homeownership Rate

Owners
45.0%
45.0%
Renters
55.0%
55.0%
Vacant
6.3%
6.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
22.2%
22.2%
1970 - 1999
53.0%
53.0%
1940 - 1969
18.7%
18.7%
1939 or Older
6.1%
6.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
23.2%
23.2%
Townhomes
27.4%
27.4%
Small Apt. Buildings
5.1%
5.1%
Apt. Complexes
44.3%
44.3%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.3%
3.3%
1 Bedroom
21.8%
21.8%
2 Bedrooms
32.3%
32.3%
3 Bedrooms
24.9%
24.9%
4 Bedrooms
13.8%
13.8%
5 or more bedrooms
3.9%
3.9%
0.0% 100.0%
% OF HOMES