Severn, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Severn, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Severn Housing Market Information

With 46,180 people, 17,380 houses or apartments, and a median cost of homes of $343,505, real estate costs in Severn are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Maryland communities.

Single-family detached homes are the single most common housing type in Severn, accounting for 55.24% of the town's housing units. Other types of housing that are prevalent in Severn include row houses and other attached homes ( 23.90%), large apartment complexes or high rise apartments ( 14.66%), and a few mobile homes or trailers ( 4.47%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Severn. Owner-occupied housing accounts for 69.48% of Severn's homes, and 71.23% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Severn 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 Severn built between 2000 and later ( 27.72%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.04%). There's also some housing in Severn built before 1939 ( 2.23%).

Severn Home Appreciation Rates

Severn's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Severn during the period has been just -1.83%, which is lower than 80% of US communities.

Over the last year, Severn appreciation rates have trailed the rest of the nation. In the last twelve months, Severn's appreciation rate has been 0.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Severn were at -0.51%, which equates to an annual appreciation rate of -2.03%.

Relative to Maryland, our data show that Severn'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 town. Individual neighborhoods within Severn differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Severn - 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 Severn real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$343,505

Severn, MD HOME PRICES

Value Range
> $1,066,000 0.9
$800,001 - $1,066,000 0.3
$533,001 - $800,000 10.3
$426,001 - $533,000 17.4
$320,001 - $426,000 27.7
$214,001 - $320,000 29.7
$107,001 - $214,000 6.2
$53,001 - $107,000 3.1
$0 - $53,000 4.5

High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
12.6508848001875 31.6793893129771

Number Of Homes And Apartments:
17,380

Severn Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
77.84% 3.39% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,832 / per month

Homeownership Rate

Homeownership
Owners 69.48
Renters 30.52
Vacant 5.21

Housing Market Details

 

Age of Homes

AGE OF Severn HOMES
2000 or Newer 27.7
1970 - 1999 55.0
1940 - 1969 15.0
1939 or Older 2.2

Types of Homes

TYPE OF Severn HOMES
Single-Family 55.2
Townhomes 23.9
Small Apt. Buildings 1.7
Apt. Complexes 14.7
Mobile Homes 4.5
Other 0.0

Home Size

SIZE OF Severn HOMES
No Bedroom 0.62
1 Bedroom 4.21
2 Bedrooms 18.82
3 Bedrooms 42.98
4 Bedrooms 28.25
5 or more bedrooms 5.12