Laurel, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Laurel Neighborhoods Since 2000




Laurel, 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

Laurel Housing Market Information

With a population of 26,215, 9,995 total housing units (homes and apartments), and a median house value of $276,593, 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 43.91% of the city's housing units. Other types of housing that are prevalent in Laurel include row houses and other attached homes ( 26.00%), single-family detached homes ( 25.75%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.34%). 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 ( 20.00%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.56%). There's also some housing in Laurel built before 1939 ( 7.27%).

Laurel Home Appreciation Rates

Homes have actually lost value in Laurel over the last then years, as home values have seen a decline of 19.99% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Laurel home appreciation rates at -0.17%, which equates to an annual appreciation rate of -0.70%.

NeighborhoodScout's data show that during the latest twelve months, Laurel's appreciation rate, at 3.43%, has been at or slightly above the national average. In the latest quarter, Laurel's appreciation rate has been -0.17%, which annualizes to a rate of -0.70%.

Relative to Maryland, our data show that Laurel's latest annual appreciation rate is higher 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:
$276,593

Laurel, MD HOME PRICES

Value Range
> $1,158,000 0.3
$868,001 - $1,158,000 0.4
$579,001 - $868,000 4.4
$463,001 - $579,000 7.0
$347,001 - $463,000 18.3
$231,001 - $347,000 39.0
$116,001 - $231,000 26.8
$58,001 - $116,000 1.4
$0 - $58,000 2.4

Average for MD
Very High for Nation

Value Relative to Nation Value Relative to State
18.8151880932849 56.8702290076336

Number Of Homes And Apartments:
9,995

Laurel 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
75.43% 3.31% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,885 / per month

Homeownership Rate

Homeownership
Owners 46.82
Renters 53.18
Vacant 6.55

Housing Market Details

 

Age of Homes

AGE OF Laurel HOMES
2000 or Newer 19.6
1970 - 1999 53.2
1940 - 1969 20.0
1939 or Older 7.3

Types of Homes

TYPE OF Laurel HOMES
Single-Family 25.8
Townhomes 26.0
Small Apt. Buildings 4.3
Apt. Complexes 43.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Laurel HOMES
No Bedroom 2.93
1 Bedroom 21.82
2 Bedrooms 30.77
3 Bedrooms 27.27
4 Bedrooms 12.29
5 or more bedrooms 4.92