Owings Mills, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Owings Mills, 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

Owings Mills Housing Market Information

With 31,530 people, 12,761 houses or apartments, and a median cost of homes of $286,457, Owings Mills 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 Owings Mills, accounting for 59.65% of the town's housing units. Other types of housing that are prevalent in Owings Mills include single-family detached homes ( 20.75%), row houses and other attached homes ( 18.64%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

People in Owings Mills primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Owings Mills has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Owings Mills 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 Owings Mills built between 2000 and later ( 27.26%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.78%). There's also some housing in Owings Mills built before 1939 ( 2.55%).

Owings Mills Home Appreciation Rates

Homes have actually lost value in Owings Mills over the last then years, as home values have seen a decline of 20.50% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Owings Mills home appreciation rates at -0.51%, which equates to an annual appreciation rate of -2.03%.

NeighborhoodScout's data show that during the latest twelve months, Owings Mills's appreciation rate, at 3.33%, has been at or slightly above the national average. In the latest quarter, Owings Mills's appreciation rate has been -0.51%, which annualizes to a rate of -2.03%.

Relative to Maryland, our data show that Owings Mills's latest annual appreciation rate is higher than 60% 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 Owings Mills differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Owings Mills - 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 Owings Mills real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$286,457

Owings Mills, MD HOME PRICES

Value Range
> $1,071,000 0.9
$803,001 - $1,071,000 0.0
$535,001 - $803,000 2.6
$429,001 - $535,000 10.6
$321,001 - $429,000 19.1
$214,001 - $321,000 41.5
$107,001 - $214,000 23.0
$54,001 - $107,000 1.7
$0 - $54,000 0.6

Average for MD
Very High for Nation

Value Relative to Nation Value Relative to State
17.7428805812727 54.1984732824427

Number Of Homes And Apartments:
12,761

Owings Mills 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
50.56% 2.40% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,867 / per month

Homeownership Rate

Homeownership
Owners 41.80
Renters 58.20
Vacant 6.95

Housing Market Details

 

Age of Homes

AGE OF Owings Mills HOMES
2000 or Newer 27.3
1970 - 1999 61.4
1940 - 1969 8.8
1939 or Older 2.6

Types of Homes

TYPE OF Owings Mills HOMES
Single-Family 20.8
Townhomes 18.6
Small Apt. Buildings 1.0
Apt. Complexes 59.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Owings Mills HOMES
No Bedroom 1.08
1 Bedroom 11.75
2 Bedrooms 44.24
3 Bedrooms 26.15
4 Bedrooms 14.41
5 or more bedrooms 2.38