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
With 12,161 people, 4,654 houses or apartments, and a median cost of homes of $219,838, Lexington Park real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Lexington Park, accounting for 42.53% of the town's housing units. Other types of housing that are prevalent in Lexington Park include large apartment complexes or high rise apartments ( 33.88%), row houses and other attached homes ( 18.91%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.39%).
The most prevalent building size and type in Lexington Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 39.34% owning and 60.66% renting.
There is a lot of housing in Lexington Park 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 Lexington Park built between 2000 and later ( 32.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.58%). There's also some housing in Lexington Park built before 1939 ( 1.41%).
Vacant housing appears to be an issue in Lexington Park. Fully 13.80% of the housing stock is classified as vacant. Left unchecked, vacant Lexington Park homes and apartments can be a drag on the real estate market, holding Lexington Park 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.
Homes have actually lost value in Lexington Park over the last then years, as home values have seen a decline of 23.47% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Lexington Park home appreciation rates at 0.42%, which equates to an annual appreciation rate of 1.70%.
NeighborhoodScout's data show that during the latest twelve months, Lexington Park's appreciation rate, at 5.51%, has been at or slightly above the national average. In the latest quarter, Lexington Park's appreciation rate has been 0.42%, which annualizes to a rate of 1.70%.
Relative to Maryland, our data show that Lexington Park'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 town. Individual neighborhoods within Lexington Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lexington Park - 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 Lexington Park real estate investment or home purchase decisions.
|$745,001 - $993,000||0.0|
|$496,001 - $745,000||0.9|
|$397,001 - $496,000||1.6|
|$298,001 - $397,000||19.8|
|$199,001 - $298,000||42.0|
|$99,001 - $199,000||28.3|
|$50,001 - $99,000||3.7|
|$0 - $50,000||3.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Lexington Park HOMES|
|2000 or Newer||32.1|
|1970 - 1999||50.9|
|1940 - 1969||15.6|
|1939 or Older||1.4|
|TYPE OF Lexington Park HOMES|
|Small Apt. Buildings||2.4|
|SIZE OF Lexington Park HOMES|
|5 or more bedrooms||4.09|