Westminster, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Westminster Neighborhoods Since 2000




Westminster, 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

Westminster Housing Market Information

With 18,670 people, 7,070 houses or apartments, and a median cost of homes of $296,053, Westminster real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Westminster, accounting for 32.06% of the city's housing units. Other types of housing that are prevalent in Westminster include large apartment complexes or high rise apartments ( 31.18%), row houses and other attached homes ( 28.08%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.68%).

The most prevalent building size and type in Westminster are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.62% owning and 54.38% renting.

There is a lot of housing in Westminster built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Westminster built before 1939 ( 17.61%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.59%). There's also some housing in Westminster built between 1940-1969 ( 13.41%).

Westminster Home Appreciation Rates

Homes have actually lost value in Westminster over the last then years, as home values have seen a decline of 20.12% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Westminster home appreciation rates at -0.51%, which equates to an annual appreciation rate of -2.03%.

Over the last year, Westminster appreciation rates have trailed the rest of the nation. In the last twelve months, Westminster's appreciation rate has been 1.75%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westminster were at -0.51%, which equates to an annual appreciation rate of -2.03%.

Relative to Maryland, our data show that Westminster'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 Westminster differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westminster - 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 Westminster real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$296,053

Westminster, MD HOME PRICES

Value Range
> $1,046,000 0.8
$785,001 - $1,046,000 0.2
$523,001 - $785,000 5.1
$418,001 - $523,000 10.1
$314,001 - $418,000 28.7
$209,001 - $314,000 27.7
$105,001 - $209,000 25.2
$52,001 - $105,000 0.7
$0 - $52,000 1.5

Average for MD
Very High for Nation

Value Relative to Nation Value Relative to State
16.6354154459159 50.763358778626

Number Of Homes And Apartments:
7,070

Westminster 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
51.99% 2.46% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,321 / per month

Homeownership Rate

Homeownership
Owners 45.62
Renters 54.38
Vacant 7.41

Housing Market Details

 

Age of Homes

AGE OF Westminster HOMES
2000 or Newer 17.6
1970 - 1999 51.4
1940 - 1969 13.4
1939 or Older 17.6

Types of Homes

TYPE OF Westminster HOMES
Single-Family 32.1
Townhomes 28.1
Small Apt. Buildings 8.7
Apt. Complexes 31.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Westminster HOMES
No Bedroom 3.46
1 Bedroom 19.51
2 Bedrooms 23.59
3 Bedrooms 36.07
4 Bedrooms 13.32
5 or more bedrooms 4.06