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 Q2 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

Rockville Housing Market Information

With a population of 68,268, 25,197 total housing units (homes and apartments), and a median house value of $619,190, 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 42.82% of the city's housing units. Other types of housing that are prevalent in Rockville include large apartment complexes or high rise apartments ( 38.30%), row houses and other attached homes ( 16.73%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.90%).

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 55.66% owning and 44.34% 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 ( 34.73%). A lesser amount of the housing stock also hails from between 2000 and later ( 27.04%). There's also some housing in Rockville built before 1939 ( 2.18%).

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 28.48%, which ranks in the top 50% nationwide. This equates to an annual average Rockville house appreciation rate of 2.54%.

Over the last year, Rockville appreciation rates have trailed the rest of the nation. In the last twelve months, Rockville's appreciation rate has been 2.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rockville were at 1.04%, which equates to an annual appreciation rate of 4.24%.

Relative to Maryland, our data show that Rockville's latest annual appreciation rate is lower than 80% 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:
$619,190

Rockville, MD HOME PRICES

Value Range
> $1,109,000 2.3
$832,001 - $1,109,000 13.9
$554,001 - $832,000 35.5
$443,001 - $554,000 15.1
$333,001 - $443,000 20.0
$222,001 - $333,000 6.7
$111,001 - $222,000 5.2
$55,001 - $111,000 0.5
$0 - $55,000 0.8

Very High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
4.8 8.27067669172932

Number Of Homes And Apartments:
25,197

Rockville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
131.28% 4.17%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,571 / per month

Homeownership Rate

Homeownership
Owners 55.66
Renters 44.34
Vacant 4.98

Housing Market Details

 

Age of Homes

AGE OF Rockville HOMES
2000 or Newer 27.0
1970 - 1999 36.0
1940 - 1969 34.7
1939 or Older 2.2

Types of Homes

TYPE OF Rockville HOMES
Single-Family 42.8
Townhomes 16.7
Small Apt. Buildings 1.9
Apt. Complexes 38.3
Mobile Homes 0.1
Other 0.2

Home Size

SIZE OF Rockville HOMES
No Bedroom 2.24
1 Bedroom 14.31
2 Bedrooms 24.57
3 Bedrooms 27.00
4 Bedrooms 23.69
5 or more bedrooms 8.19