Olney, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Olney, 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

Olney Housing Market Information

With 35,713 people, 11,598 houses or apartments, and a median cost of homes of $554,645, Olney house prices are not only among the most expensive in Maryland, Olney real estate also is some of the most expensive in all of America.

Olney is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Olney than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Olney. Owner-occupied housing accounts for 89.73% of Olney's homes, and 74.77% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Olney 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 Olney built between 2000 and later ( 10.52%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.86%). There's also some housing in Olney built before 1939 ( 1.01%).

Olney Home Appreciation Rates

Olney's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Olney during the period has been just -1.08%, which is lower than 70% of US communities.

Over the last year, Olney appreciation rates have trailed the rest of the nation. In the last twelve months, Olney's appreciation rate has been 3.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Olney were at -0.17%, which equates to an annual appreciation rate of -0.70%.

Relative to Maryland, our data show that Olney's latest annual appreciation rate is higher than 50% 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 Olney differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Olney - 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 Olney real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$554,645

Olney, MD HOME PRICES

Value Range
> $1,105,000 2.9
$829,001 - $1,105,000 7.8
$553,001 - $829,000 37.1
$442,001 - $553,000 25.5
$332,001 - $442,000 14.1
$221,001 - $332,000 8.5
$111,001 - $221,000 2.5
$55,001 - $111,000 0.3
$0 - $55,000 1.3

Very High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
4.66424469705848 8.01526717557252

Number Of Homes And Apartments:
11,598

Olney 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
83.64% 3.59% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,208 / per month

Homeownership Rate

Homeownership
Owners 89.73
Renters 10.27
Vacant 1.93

Housing Market Details

 

Age of Homes

AGE OF Olney HOMES
2000 or Newer 10.5
1970 - 1999 79.6
1940 - 1969 8.9
1939 or Older 1.0

Types of Homes

TYPE OF Olney HOMES
Single-Family 68.8
Townhomes 24.0
Small Apt. Buildings 1.1
Apt. Complexes 6.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Olney HOMES
No Bedroom 0.00
1 Bedroom 2.57
2 Bedrooms 6.98
3 Bedrooms 31.24
4 Bedrooms 43.52
5 or more bedrooms 15.68