Pocomoke City MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



map preview
Please wait, loading your map...

Highest
Lowest




Pocomoke 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Pocomoke City Housing Market Information

With a population of 4,042, 1,651 total housing units (homes and apartments), and a median house value of $143,888, house prices in Pocomoke City are solidly below the national average.

Single-family detached homes are the single most common housing type in Pocomoke City, accounting for 76.51% of the city's housing units. Other types of housing that are prevalent in Pocomoke City include large apartment complexes or high rise apartments ( 18.09%), row houses and other attached homes ( 4.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.04%).

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 44.51% owning and 55.49% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Pocomoke City's housing was primarily built during this period, from the '40s through the '60s. A full 36.12% of the city's housing hails from this era. Other housing ages represented in Pocomoke City include homes built between 1970-1999 ( 30.93%) and housing constructed before 1939 ( 23.34%). There's also some housing in Pocomoke City built between 2000 and later ( 9.62%).

Vacant housing appears to be an issue in Pocomoke City. Fully 14.19% 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 3.51% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Pocomoke City home appreciation rates at 0.64%, which equates to an annual appreciation rate of 2.60%.

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 -2.78%, 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 0.64%, which equates to an annual appreciation rate of 2.60%.

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 90% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$143,888

Pocomoke City, MD HOME PRICES

Value Range
> $1,066,000 1.8
$800,001 - $1,066,000 0.0
$533,001 - $800,000 2.1
$427,001 - $533,000 1.6
$320,001 - $427,000 1.9
$213,001 - $320,000 8.4
$107,001 - $213,000 54.7
$53,001 - $107,000 25.1
$0 - $53,000 4.3

Very Low for MD
Low for Nation

Value Relative to Nation Value Relative to State
63.3985401459854 92.1052631578947

Number Of Homes And Apartments:
1,651

Pocomoke City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
33.23% 1.43%
1
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,062 / per month

Homeownership Rate

Homeownership
Owners 44.51
Renters 55.49
Vacant 14.19

Housing Market Details

 

Age of Homes

AGE OF Pocomoke City HOMES
2000 or Newer 9.6
1970 - 1999 30.9
1940 - 1969 36.1
1939 or Older 23.3

Types of Homes

TYPE OF Pocomoke City HOMES
Single-Family 76.5
Townhomes 4.4
Small Apt. Buildings 1.0
Apt. Complexes 18.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Pocomoke City HOMES
No Bedroom 2.13
1 Bedroom 10.14
2 Bedrooms 21.67
3 Bedrooms 47.92
4 Bedrooms 17.05
5 or more bedrooms 1.09

Popular Neighborhoods in Pocomoke City

Zip Codes in Pocomoke City, MD