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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 32,809, 12,291 total housing units (homes and apartments), and a median house value of $194,823, Salisbury real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Salisbury homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Salisbury, accounting for 40.68% of the city's housing units. Other types of housing that are prevalent in Salisbury include large apartment complexes or high rise apartments ( 38.86%), row houses and other attached homes ( 10.91%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.49%).
Salisbury is dominated by renter-occupied one, two, or no bedrooms apartments. 73.20% of Salisbury's dwellings are rentals.
There is a lot of housing in Salisbury 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 Salisbury built between 2000 and later ( 26.73%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.50%). There's also some housing in Salisbury built before 1939 ( 10.36%).
Vacant housing appears to be an issue in Salisbury. Fully 13.86% of the housing stock is classified as vacant. Left unchecked, vacant Salisbury homes and apartments can be a drag on the real estate market, holding Salisbury 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.
Salisbury's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Salisbury during the period has been just 0.35%, which is lower than 80% of US communities.
Appreciation rates are so strong in Salisbury that despite a nationwide downturn in the housing market, Salisbury real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Salisbury appreciation rates continue to be some of the highest in America, at 6.83%, which is higher than appreciation rates in 92.36% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Salisbury. Salisbury appreciation rates in the latest quarter were at 0.74%, which equates to an annual appreciation rate of 3.00%.
Relative to Maryland, our data show that Salisbury's latest annual appreciation rate is higher than 90% 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 Salisbury differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Salisbury - 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 Salisbury real estate investment or home purchase decisions.
|$921,001 - $1,227,000||0.1|
|$613,001 - $921,000||1.2|
|$491,001 - $613,000||1.2|
|$368,001 - $491,000||4.4|
|$245,001 - $368,000||21.4|
|$123,001 - $245,000||50.4|
|$61,001 - $123,000||15.4|
|$0 - $61,000||4.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
2000 Q1 - 2019 Q4
|* 10 is highest|
|AGE OF Salisbury HOMES|
|2000 or Newer||26.7|
|1970 - 1999||37.4|
|1940 - 1969||25.5|
|1939 or Older||10.4|
|TYPE OF Salisbury HOMES|
|Small Apt. Buildings||9.5|
|SIZE OF Salisbury HOMES|
|5 or more bedrooms||1.94|