Takoma Park, MD Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Takoma Park, MD Housing Market Trends

With 17,725 people, 6,567 houses or apartments, and a median cost of homes of $716,187, 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 48.12% of the city's housing units. Other types of housing that are prevalent in Takoma Park include large apartment complexes or high rise apartments ( 42.17%), duplexes, homes converted to apartments or other small apartment buildings ( 7.31%), and a few row houses and other attached homes ( 2.29%).

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 53.62% of the city's housing hails from this era. Other housing ages represented in Takoma Park include homes built before 1939 ( 30.66%) and housing constructed between 1970-1999 ( 12.59%). There's also some housing in Takoma Park built between 2000 and later ( 3.14%).

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 43.90%, which ranks in the top 40% nationwide. This equates to an annual average Takoma Park house appreciation rate of 3.71%.

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 4.79%, 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 1.76%, which equates to an annual appreciation rate of 7.24%.

Relative to Maryland, our data show that Takoma Park's latest annual appreciation rate is lower than 60% 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:
$716,187

Takoma Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
158.40% 4.57%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,458 / per month

Homeownership Rate

Owners
51.6%
51.6%
Renters
48.4%
48.4%
Vacant
3.7%
3.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.1%
3.1%
1970 - 1999
12.6%
12.6%
1940 - 1969
53.6%
53.6%
1939 or Older
30.7%
30.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
48.1%
48.1%
Townhomes
2.3%
2.3%
Small Apt. Buildings
7.3%
7.3%
Apt. Complexes
42.2%
42.2%
Mobile Homes
0.0%
0.0%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.1%
5.1%
1 Bedroom
22.0%
22.0%
2 Bedrooms
23.0%
23.0%
3 Bedrooms
29.2%
29.2%
4 Bedrooms
13.4%
13.4%
5 or more bedrooms
7.2%
7.2%
0.0% 100.0%
% OF HOMES