Rockville, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Rockville, 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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Rockville Housing Market Information

With 66,940 people, 24,816 houses or apartments, and a median cost of homes of $608,045, Rockville house prices are not only among the most expensive in Maryland, Rockville real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Rockville, accounting for 44.41% of the city's housing units. Other types of housing that are prevalent in Rockville include large apartment complexes or high rise apartments ( 36.32%), row houses and other attached homes ( 16.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.89%).

The most prevalent building size and type in Rockville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.43% owning and 42.57% renting.

There is a lot of housing in Rockville 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 Rockville built between 1940-1969 ( 35.86%). A lesser amount of the housing stock also hails from between 2000 and later ( 26.23%). There's also some housing in Rockville built before 1939 ( 1.96%).

Rockville Home Appreciation Rates

Appreciation rates for homes in Rockville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.34%, which ranks in the top 50% nationwide. This equates to an annual average Rockville house appreciation rate of 0.80%.

NeighborhoodScout's data show that during the latest twelve months, Rockville's appreciation rate, at 5.04%, has been at or slightly above the national average. In the latest quarter, Rockville's appreciation rate has been 0.94%, which annualizes to a rate of 3.80%.

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

Average Home Values

 

Median Home Value:
$608,045

Rockville, MD HOME PRICES

Value Range
> $1,122,475 2.5
$842,237 - $1,122,475 12.9
$561,479 - $842,236 32.5
$449,079 - $561,478 13.4
$336,679 - $449,078 22.3
$224,800 - $336,678 9.4
$112,492 - $224,799 5.6
$56,001 - $112,491 0.4
$0 - $56,000 1.0

Very High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
4.28613138686131 7.89473684210526

Number Of Homes And Apartments:
24,816

Rockville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
118.07% 4.36%
10
10
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$2,364 / per month

Homeownership Rate

Homeownership
Owners 57.43
Renters 42.57
Vacant 4.50

Housing Market Details

 

Age of Homes

AGE OF Rockville HOMES
2000 or Newer 26.2
1970 - 1999 35.9
1940 - 1969 35.9
1939 or Older 2.0

Types of Homes

TYPE OF Rockville HOMES
Single-Family 44.4
Townhomes 17.0
Small Apt. Buildings 1.9
Apt. Complexes 36.3
Mobile Homes 0.1
Other 0.4

Home Size

SIZE OF Rockville HOMES
No Bedroom 1.65
1 Bedroom 15.20
2 Bedrooms 22.67
3 Bedrooms 27.25
4 Bedrooms 24.33
5 or more bedrooms 8.90