Lutherville Timonium, 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 Q1 2021. 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

Lutherville Timonium, MD Housing Market Trends

With a population of 34,799, 1,790 total housing units (homes and apartments), and a median house value of $173,428, Lutherville Timonium real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Lutherville Timonium homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Lutherville Timonium, accounting for 62.66% of the town's housing units. Other types of housing that are prevalent in Lutherville Timonium include large apartment complexes or high rise apartments ( 18.60%), row houses and other attached homes ( 17.33%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.11%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lutherville Timonium. Owner-occupied housing accounts for 87.29% of Lutherville Timonium's homes, and 67.94% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lutherville Timonium 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 Lutherville Timonium built between 1940-1969 ( 39.81%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.25%). There's also some housing in Lutherville Timonium built before 1939 ( 2.86%).

Lutherville Timonium Home Appreciation Rates

Lutherville Timonium's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lutherville Timonium during the period has been just 1.89%, which is lower than 80% of US communities.

Appreciation rates are so strong in Lutherville Timonium that despite a nationwide downturn in the housing market, Lutherville Timonium real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lutherville Timonium appreciation rates continue to be some of the highest in America, at 8.36%, which is higher than appreciation rates in 78.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lutherville Timonium. Lutherville Timonium appreciation rates in the latest quarter were at 2.93%, which equates to an annual appreciation rate of 12.24%.

Importantly, this makes Lutherville Timonium one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Maryland, our data show that Lutherville Timonium'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 Lutherville Timonium differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lutherville Timonium - 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 Lutherville Timonium real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$173,428

Lutherville Timonium, MD HOME PRICES

> $1,188,000
0.4%
0.4%
$891,001 - $1,188,000
0.5%
0.5%
$595,001 - $891,000
0.8%
0.8%
$476,001 - $595,000
2.7%
2.7%
$357,001 - $476,000
4.8%
4.8%
$238,001 - $357,000
16.9%
16.9%
$119,001 - $238,000
48.0%
48.0%
$60,001 - $119,000
16.6%
16.6%
$0 - $60,000
9.4%
9.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very Low for MD

Value Relative To Nation

Number Of Homes And Apartments:
1,790

Lutherville Timonium Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
64.65% 2.37%
2
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,063 / per month

Homeownership Rate

Owners
87.3%
87.3%
Renters
12.7%
12.7%
Vacant
3.9%
3.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.3%
8.3%
1970 - 1999
49.1%
49.1%
1940 - 1969
39.8%
39.8%
1939 or Older
2.9%
2.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.7%
62.7%
Townhomes
17.3%
17.3%
Small Apt. Buildings
1.1%
1.1%
Apt. Complexes
18.6%
18.6%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
3.8%
3.8%
2 Bedrooms
18.6%
18.6%
3 Bedrooms
39.7%
39.7%
4 Bedrooms
28.2%
28.2%
5 or more bedrooms
9.1%
9.1%
0.0% 100.0%
% OF HOMES