Silver Spring, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Silver Spring Neighborhoods Since 2000




Silver Spring, 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

Silver Spring Housing Market Information

With 75,398 people, 30,684 houses or apartments, and a median cost of homes of $428,996, Silver Spring house prices are not only among the most expensive in Maryland, Silver Spring real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Silver Spring, accounting for 59.45% of the town's housing units. Other types of housing that are prevalent in Silver Spring include single-family detached homes ( 31.21%), row houses and other attached homes ( 5.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.13%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

People in Silver Spring primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Silver Spring has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Silver Spring's housing was primarily built during this period, from the '40s through the '60s. A full 52.21% of the town's housing hails from this era. Other housing ages represented in Silver Spring include homes built between 1970-1999 ( 24.06%) and housing constructed between 2000 and later ( 12.00%). There's also some housing in Silver Spring built before 1939 ( 11.72%).

Silver Spring Home Appreciation Rates

Real estate appreciation rates in Silver Spring's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.22% during the period.

Over the last year, Silver Spring appreciation rates have trailed the rest of the nation. In the last twelve months, Silver Spring's appreciation rate has been 2.75%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Silver Spring were at -0.17%, which equates to an annual appreciation rate of -0.70%.

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

Average Home Values

 

Median Home Value:
$428,996

Silver Spring, MD HOME PRICES

Value Range
> $1,112,000 1.2
$834,001 - $1,112,000 5.1
$556,001 - $834,000 23.9
$445,001 - $556,000 16.1
$334,001 - $445,000 19.7
$223,001 - $334,000 23.2
$111,001 - $223,000 7.9
$56,001 - $111,000 0.9
$0 - $56,000 1.9

Very High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
8.12727059650768 17.175572519084

Number Of Homes And Apartments:
30,684

Silver Spring 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
108.16% 4.34% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,780 / per month

Homeownership Rate

Homeownership
Owners 36.85
Renters 63.15
Vacant 4.73

Housing Market Details

 

Age of Homes

AGE OF Silver Spring HOMES
2000 or Newer 12.0
1970 - 1999 24.1
1940 - 1969 52.2
1939 or Older 11.7

Types of Homes

TYPE OF Silver Spring HOMES
Single-Family 31.2
Townhomes 5.0
Small Apt. Buildings 4.1
Apt. Complexes 59.4
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Silver Spring HOMES
No Bedroom 6.32
1 Bedroom 28.55
2 Bedrooms 29.15
3 Bedrooms 21.44
4 Bedrooms 10.61
5 or more bedrooms 3.92