Pocomoke City, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Pocomoke City, MD Real Estate Data


Pocomoke City Housing Market Information

With a population of 4,133, 1,484 total housing units (homes and apartments), and a median house value of $145,940, Pocomoke City real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Pocomoke City homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Pocomoke City, accounting for 69.93% of the city's housing units. Other types of housing that are prevalent in Pocomoke City include large apartment complexes or high rise apartments ( 20.38%), duplexes, homes converted to apartments or other small apartment buildings ( 5.43%), and a few row houses and other attached homes ( 4.26%).

The most prevalent building size and type in Pocomoke City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.65% owning and 48.35% renting.

There is a lot of housing in Pocomoke 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 Pocomoke City built between 1940-1969 ( 32.19%). A lesser amount of the housing stock also hails from before 1939 ( 19.88%). There's also some housing in Pocomoke City built between 2000 and later ( 10.47%).

Vacant housing appears to be an issue in Pocomoke City. Fully 16.91% of the housing stock is classified as vacant. Left unchecked, vacant Pocomoke City homes and apartments can be a drag on the real estate market, holding Pocomoke City real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Pocomoke City Home Appreciation Rates

Homes have actually lost value in Pocomoke City over the last then years, as home values have seen a decline of 27.27% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Pocomoke City home appreciation rates at -0.43%, which equates to an annual appreciation rate of -1.69%.

Over the last year, Pocomoke City appreciation rates have trailed the rest of the nation. In the last twelve months, Pocomoke City's appreciation rate has been 4.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pocomoke City were at -0.43%, which equates to an annual appreciation rate of -1.69%.

Notably, Pocomoke City's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$145,940

Pocomoke City, MD HOME PRICES

Value Range
> $1,026,000 0.1
$770,001 - $1,026,000 0.1
$514,001 - $770,000 3.3
$411,001 - $514,000 1.8
$308,001 - $411,000 4.6
$205,001 - $308,000 14.1
$103,001 - $205,000 39.2
$51,001 - $103,000 24.5
$0 - $51,000 12.3

Very Low for MD
Average for Nation

Value Relative to Nation Value Relative to State
52.790302746384 89.7338403041825

Number Of Homes And Apartments:
1,484

Rent & Ownership

 

Average Market Rent:
$727 / per month

Homeownership Rate

Homeownership
Owners 51.65
Renters 48.35
Vacant 16.91

Housing Market Details

 

Age of Homes

AGE OF Pocomoke City HOMES
2000 or Newer 10.5
1970 - 1999 37.5
1940 - 1969 32.2
1939 or Older 19.9

Types of Homes

TYPE OF Pocomoke City HOMES
Single-Family 69.9
Townhomes 4.3
Small Apt. Buildings 5.4
Apt. Complexes 20.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Pocomoke City HOMES
No Bedroom 1.06
1 Bedroom 14.73
2 Bedrooms 27.10
3 Bedrooms 40.87
4 Bedrooms 11.70
5 or more bedrooms 4.54

Pocomoke City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
26.83% 1.41% 1 3
* 10 is highest

Popular Neighborhoods in Pocomoke City

Zip Codes in Pocomoke City, MD