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 about Scout's Real Estate Data
With 8,126 people, 4,153 houses or apartments, and a median cost of homes of $595,954, real estate costs in Mount Rainier are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Maryland communities.
Large apartment complexes or high rise apartments are the single most common housing type in Mount Rainier, accounting for 53.55% of the city's housing units. Other types of housing that are prevalent in Mount Rainier include single-family detached homes ( 28.22%), duplexes, homes converted to apartments or other small apartment buildings ( 16.87%), and a few row houses and other attached homes ( 1.36%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
Mount Rainier is dominated by renter-occupied one, two, or no bedrooms apartments. 74.62% of Mount Rainier's dwellings are rentals.
The housing in Mount Rainier was primarily built before 1939 ( 35.60%), making the housing stock in Mount Rainier some of the oldest overall in America, although there is a range of ages of homes in Mount Rainier. The next most important housing age is between 1940-1969 ( 35.34%), followed by between 1970-1999 ( 23.36%). There's also some housing in Mount Rainier built between 2000 and later ( 5.71%).
In the last 10 years, Mount Rainier has experienced some of the highest home appreciation rates of any community in the nation. Mount Rainier real estate appreciated 110.60% over the last ten years, which is an average annual home appreciation rate of 7.73%, putting Mount Rainier in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mount Rainier definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Mount Rainier appreciation rates have trailed the rest of the nation. In the last twelve months, Mount Rainier's appreciation rate has been 4.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mount Rainier were at 0.00%, which equates to an annual appreciation rate of 0.00%.
Relative to Maryland, our data show that Mount Rainier's latest annual appreciation rate is lower than 70% of the other cities and towns in Maryland.
$595,954
$1,869 / per month