Ocean City, MD


Highest Appreciating Ocean City Neighborhoods Since 2000

Ocean City, 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

Ocean City Housing Market Information

With a population of 7,055, 3,439 total housing units (homes and apartments), and a median house value of $303,895, Ocean City 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 Ocean City, accounting for 72.27% of the town's housing units. Other types of housing that are prevalent in Ocean City include single-family detached homes ( 9.75%), row houses and other attached homes ( 6.58%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.95%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Dwellings in Ocean City tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 63.10% of the homes in Ocean City have two or fewer bedrooms.

There is a lot of housing in Ocean City 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 Ocean City built between 1940-1969 ( 10.72%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.29%). There's also some housing in Ocean City built before 1939 ( 1.98%).

A decent proportion of the Ocean City housing stock is seasonally occupied. That is, homes and condos in Ocean City are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Ocean City housing market speaks to its popularity as a vacation location of choice.

Ocean City Home Appreciation Rates

Homes have actually lost value in Ocean City over the last then years, as home values have seen a decline of 25.92% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Ocean City home appreciation rates at -0.31%, which equates to an annual appreciation rate of -1.24%.

Over the last year, Ocean City appreciation rates have trailed the rest of the nation. In the last twelve months, Ocean City's appreciation rate has been 2.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ocean City were at -0.31%, which equates to an annual appreciation rate of -1.24%.

Relative to Maryland, our data show that Ocean City's latest annual appreciation rate is higher than 50% of the other cities and towns in Maryland.

Average Home Values


Median Home Value:


Value Range
> $1,048,000 1.3
$786,001 - $1,048,000 3.6
$524,001 - $786,000 9.7
$419,001 - $524,000 8.1
$314,001 - $419,000 23.9
$210,001 - $314,000 31.0
$104,001 - $210,000 16.4
$52,001 - $104,000 2.2
$0 - $52,000 3.7

Average for MD
Very High for Nation

Value Relative to Nation Value Relative to State
16.0084378296027 49.618320610687

Number Of Homes And Apartments:

Ocean City Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
63.24% 2.88% 6 8
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,224 / per month

Homeownership Rate

Owners 74.57
Renters 25.43
Vacant 88.51

Housing Market Details


Age of Homes

2000 or Newer 9.3
1970 - 1999 78.0
1940 - 1969 10.7
1939 or Older 2.0

Types of Homes

Single-Family 9.8
Townhomes 6.6
Small Apt. Buildings 6.0
Apt. Complexes 72.3
Mobile Homes 5.4
Other 0.0

Home Size

No Bedroom 4.99
1 Bedroom 14.42
2 Bedrooms 43.69
3 Bedrooms 30.40
4 Bedrooms 4.06
5 or more bedrooms 2.45