Takoma Park, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Takoma Park Neighborhoods Since 2000




Takoma Park, 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

Takoma Park Housing Market Information

With a population of 17,713, 6,524 total housing units (homes and apartments), and a median house value of $534,751, Takoma Park house prices are not only among the most expensive in Maryland, Takoma Park real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Takoma Park, accounting for 49.73% of the city's housing units. Other types of housing that are prevalent in Takoma Park include large apartment complexes or high rise apartments ( 42.58%), duplexes, homes converted to apartments or other small apartment buildings ( 6.04%), and a few row houses and other attached homes ( 1.65%).

People in Takoma Park primarily live in small (one, two or no bedroom) single-family detached homes. Takoma Park 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. Takoma Park's housing was primarily built during this period, from the '40s through the '60s. A full 54.71% of the city's housing hails from this era. Other housing ages represented in Takoma Park include homes built before 1939 ( 30.14%) and housing constructed between 1970-1999 ( 13.25%). There's also some housing in Takoma Park built between 2000 and later ( 1.90%).

Takoma Park Home Appreciation Rates

Appreciation rates for homes in Takoma Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.19%, which ranks in the top 30% nationwide. This equates to an annual average Takoma Park house appreciation rate of 0.98%.

NeighborhoodScout's data show that during the latest twelve months, Takoma Park's appreciation rate, at 3.78%, has been at or slightly above the national average. In the latest quarter, Takoma Park's appreciation rate has been -0.17%, which annualizes to a rate of -0.70%.

Relative to Maryland, our data show that Takoma Park's latest annual appreciation rate is higher than 70% 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 Takoma Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Takoma Park - 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 Takoma Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$534,751

Takoma Park, MD HOME PRICES

Value Range
> $1,141,000 2.3
$855,001 - $1,141,000 13.0
$570,001 - $855,000 34.2
$456,001 - $570,000 18.4
$342,001 - $456,000 15.1
$228,001 - $342,000 7.3
$114,001 - $228,000 8.6
$57,001 - $114,000 0.0
$0 - $57,000 1.1

Very High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
5.04511894995898 9.54198473282443

Number Of Homes And Apartments:
6,524

Takoma Park 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
120.72% 4.70% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,473 / per month

Homeownership Rate

Homeownership
Owners 51.34
Renters 48.66
Vacant 5.52

Housing Market Details

 

Age of Homes

AGE OF Takoma Park HOMES
2000 or Newer 1.9
1970 - 1999 13.3
1940 - 1969 54.7
1939 or Older 30.1

Types of Homes

TYPE OF Takoma Park HOMES
Single-Family 49.7
Townhomes 1.7
Small Apt. Buildings 6.0
Apt. Complexes 42.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Takoma Park HOMES
No Bedroom 2.35
1 Bedroom 22.04
2 Bedrooms 27.43
3 Bedrooms 26.21
4 Bedrooms 16.34
5 or more bedrooms 5.63