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 about Scout's Real Estate Data
With a population of 7,542, 2,901 total housing units (homes and apartments), and a median house value of $392,438, Savage real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Savage, accounting for 55.20% of the town's housing units. Other types of housing that are prevalent in Savage include row houses and other attached homes ( 20.72%), large apartment complexes or high rise apartments ( 19.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.29%).
The most prevalent building size and type in Savage are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.55% owning and 35.45% renting.
There is a lot of housing in Savage 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 Savage built before 1939 ( 19.23%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.76%). There's also some housing in Savage built between 2000 and later ( 9.53%).
Savage's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Savage during the period has been just 4.50%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Savage's appreciation rate, at 5.29%, has been at or slightly above the national average. In the latest quarter, Savage's appreciation rate has been 2.62%, which annualizes to a rate of 10.91%.
Relative to Maryland, our data show that Savage's latest annual appreciation rate is higher than 70% of the other cities and towns in Maryland.
$2,871 / per month