Snow Hill, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Snow Hill, 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

Snow Hill Housing Market Information

With a population of 2,086, 870 total housing units (homes and apartments), and a median house value of $142,042, Snow Hill real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Snow Hill homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Snow Hill, accounting for 81.23% of the town's housing units. Other types of housing that are prevalent in Snow Hill include large apartment complexes or high rise apartments ( 9.24%), duplexes, homes converted to apartments or other small apartment buildings ( 4.86%), and a few row houses and other attached homes ( 4.67%).

The most prevalent building size and type in Snow Hill are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 58.27% owning and 41.73% renting.

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. Snow Hill's housing was primarily built during this period, from the '40s through the '60s. A full 36.09% of the town's housing hails from this era. Other housing ages represented in Snow Hill include homes built before 1939 ( 31.23%) and housing constructed between 1970-1999 ( 23.54%). There's also some housing in Snow Hill built between 2000 and later ( 9.14%).

Vacant housing appears to be an issue in Snow Hill. Fully 15.37% of the housing stock is classified as vacant. Left unchecked, vacant Snow Hill homes and apartments can be a drag on the real estate market, holding Snow Hill 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.

Snow Hill Home Appreciation Rates

Homes have actually lost value in Snow Hill over the last then years, as home values have seen a decline of 22.06% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Snow Hill home appreciation rates at -0.31%, which equates to an annual appreciation rate of -1.24%.

Over the last year, Snow Hill appreciation rates have trailed the rest of the nation. In the last twelve months, Snow Hill's appreciation rate has been 2.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Snow Hill were at -0.31%, which equates to an annual appreciation rate of -1.24%.

Relative to Maryland, our data show that Snow Hill's latest annual appreciation rate is higher than 50% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$142,042

Snow Hill, MD HOME PRICES

Value Range
> $1,085,000 0.0
$814,001 - $1,085,000 0.0
$543,001 - $814,000 2.1
$434,001 - $543,000 1.6
$325,001 - $434,000 3.5
$217,001 - $325,000 22.0
$108,001 - $217,000 33.9
$54,001 - $108,000 28.0
$0 - $54,000 9.0

Very Low for MD
Average for Nation

Value Relative to Nation Value Relative to State
53.8204617367866 91.2213740458015

Number Of Homes And Apartments:
870

Snow Hill 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
50.26% 2.39% 3 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$982 / per month

Homeownership Rate

Homeownership
Owners 58.27
Renters 41.73
Vacant 15.37

Housing Market Details

 

Age of Homes

AGE OF Snow Hill HOMES
2000 or Newer 9.1
1970 - 1999 23.5
1940 - 1969 36.1
1939 or Older 31.2

Types of Homes

TYPE OF Snow Hill HOMES
Single-Family 81.2
Townhomes 4.7
Small Apt. Buildings 4.9
Apt. Complexes 9.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Snow Hill HOMES
No Bedroom 0.49
1 Bedroom 9.24
2 Bedrooms 30.16
3 Bedrooms 43.39
4 Bedrooms 11.48
5 or more bedrooms 5.25

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Zip Codes in Snow Hill, MD