Princess Anne, MD Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Princess Anne, MD Housing Market Trends

With 3,513 people, 1,359 houses or apartments, and a median cost of homes of $186,934, Princess Anne real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Princess Anne homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Princess Anne, accounting for 38.31% of the town's housing units. Other types of housing that are prevalent in Princess Anne include large apartment complexes or high rise apartments ( 32.09%), duplexes, homes converted to apartments or other small apartment buildings ( 18.31%), and a few row houses and other attached homes ( 11.28%).

Princess Anne is dominated by renter-occupied one, two, or no bedrooms apartments. 71.60% of Princess Anne's dwellings are rentals.

There is a lot of housing in Princess Anne 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 Princess Anne built between 2000 and later ( 24.59%). A lesser amount of the housing stock also hails from before 1939 ( 11.86%). There's also some housing in Princess Anne built between 1940-1969 ( 5.23%).

Vacant housing appears to be an issue in Princess Anne. Fully 20.99% of the housing stock is classified as vacant. Left unchecked, vacant Princess Anne homes and apartments can be a drag on the real estate market, holding Princess Anne 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.

Princess Anne Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Princess Anne, where house values have increased just 6.89%, which is annualized rate of 0.67%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Princess Anne's appreciation rate, at 5.72%, has been at or slightly above the national average. In the latest quarter, Princess Anne's appreciation rate has been 1.62%, which annualizes to a rate of 6.63%.

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

Relative to Maryland, our data show that Princess Anne's latest annual appreciation rate is higher than 80% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$186,934

Princess Anne, MD HOME PRICES

> $1,180,000
0.3%
0.3%
$885,001 - $1,180,000
0.2%
0.2%
$590,001 - $885,000
0.4%
0.4%
$472,001 - $590,000
0.3%
0.3%
$354,001 - $472,000
7.2%
7.2%
$236,001 - $354,000
15.2%
15.2%
$118,001 - $236,000
54.2%
54.2%
$59,001 - $118,000
14.3%
14.3%
$0 - $59,000
7.9%
7.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very Low for MD

Value Relative To Nation

Number Of Homes And Apartments:
1,359

Princess Anne Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
51.60% 2.00%
1
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$913 / per month

Homeownership Rate

Owners
28.4%
28.4%
Renters
71.6%
71.6%
Vacant
21.0%
21.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
24.6%
24.6%
1970 - 1999
58.3%
58.3%
1940 - 1969
5.2%
5.2%
1939 or Older
11.9%
11.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
38.3%
38.3%
Townhomes
11.3%
11.3%
Small Apt. Buildings
18.3%
18.3%
Apt. Complexes
32.1%
32.1%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
8.4%
8.4%
1 Bedroom
22.7%
22.7%
2 Bedrooms
20.9%
20.9%
3 Bedrooms
39.8%
39.8%
4 Bedrooms
7.1%
7.1%
5 or more bedrooms
1.2%
1.2%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Princess Anne

Zip Codes in Princess Anne, MD