Takoma Park, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q3 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Takoma Park Housing Market Information

With 17,765 people, 6,498 houses or apartments, and a median cost of homes of $614,525, 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 48.92% of the city's housing units. Other types of housing that are prevalent in Takoma Park include large apartment complexes or high rise apartments ( 44.12%), duplexes, homes converted to apartments or other small apartment buildings ( 5.50%), and a few row houses and other attached homes ( 1.46%).

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 54.00% of the city's housing hails from this era. Other housing ages represented in Takoma Park include homes built before 1939 ( 27.55%) and housing constructed between 1970-1999 ( 15.67%). There's also some housing in Takoma Park built between 2000 and later ( 2.78%).

Takoma Park Home Appreciation Rates

In the last 10 years, Takoma Park has experienced some of the highest home appreciation rates of any community in the nation. Takoma Park real estate appreciated 31.50% over the last ten years, which is an average annual home appreciation rate of 2.78%, putting Takoma Park in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Takoma Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Takoma Park appreciation rates have trailed the rest of the nation. In the last twelve months, Takoma Park's appreciation rate has been 4.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Takoma Park were at 1.24%, which equates to an annual appreciation rate of 5.07%.

Relative to Maryland, our data show that Takoma Park's latest annual appreciation rate is lower 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 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:
$614,525

Takoma Park, MD HOME PRICES

Value Range
> $1,188,000 2.5
$891,001 - $1,188,000 14.6
$594,001 - $891,000 37.2
$475,001 - $594,000 18.8
$357,001 - $475,000 11.5
$238,001 - $357,000 6.2
$119,001 - $238,000 8.0
$59,001 - $119,000 0.3
$0 - $59,000 0.9

Very High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
4.57810218978102 8.27067669172932

Number Of Homes And Apartments:
6,498

Takoma Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
Since 2000:
2000 Q1 - 2018 Q3
138.66% 4.75%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,555 / per month

Homeownership Rate

Homeownership
Owners 50.31
Renters 49.69
Vacant 4.37

Housing Market Details

 

Age of Homes

AGE OF Takoma Park HOMES
2000 or Newer 2.8
1970 - 1999 15.7
1940 - 1969 54.0
1939 or Older 27.5

Types of Homes

TYPE OF Takoma Park HOMES
Single-Family 48.9
Townhomes 1.5
Small Apt. Buildings 5.5
Apt. Complexes 44.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Takoma Park HOMES
No Bedroom 2.27
1 Bedroom 22.60
2 Bedrooms 27.36
3 Bedrooms 27.12
4 Bedrooms 14.69
5 or more bedrooms 5.96