Allegany County, Maryland Housing Market Prices
Allegany County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 43% below the Maryland median Cheaper than 78% of counties in Maryland$151,228
-
Median rent 53% below the Maryland median Among the top 3 cheapest counties in Maryland$805
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Allegany County | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,228 | $267,101 | $248,835 |
| Price Trend (Annual %) | 12.4% | 3.4% | 7.5% |
| Median Gross Rent | $805 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 2.8% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Allegany County is about 43% lower than in Maryland. Rent is about 53% lower than the Maryland average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Allegany County, up about 12.4% and 2.8% a year respectively. Home prices are changing faster.
Median rent in Allegany County rose about 29.2% between 2015 and 2024, from $623 to $805. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Allegany County.
Buying the median-priced home in Allegany County costs roughly 15.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Allegany County. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Allegany County | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,228 | $267,101 | $248,835 |
| Median Household Income | $59,649 | $103,916 | $80,455 |
| Price-to-Income Ratio | 2.5 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Allegany County rose about 48.7%, while median household income rose about 54.5% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Allegany County | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.2% | 62.4% | 58.5% |
| Rental Rate | 24.5% | 29.9% | 31.2% |
| Vacancy Rate | 16.3% | 7.7% | 10.2% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Allegany County has a homeownership rate of 59.2%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 16.3%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Allegany County | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.22 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1963 | 1977 | 1978 |
| Median Number of Rooms | 6.0 | 6.2 | 5.5 |
The typical housing unit in Allegany County was built around 1963. On average, 2.2 people live in a home with about 6.0 rooms, staying for about 19.0 years on average.
Allegany County, MD Housing Compared With Nearby Counties
Allegany County, MD is the 2nd largest of the 5 counties compared here, 67,200 residents against a local median of 35,489. Allegany County, MD sits close to the middle of its own neighbourhood. No measure below is more than 15% off the local median, so the choice between these counties turns on things this data does not capture.
The largest of those small differences is homeownership, 13% below the local median at 70.7% against 81.5%. Allegany County, MD has the 5th highest homeownership of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Allegany County, MD | 67,200 | $151,228 #3/5 | $805 #1/5 | 70.7% #5/5 |
| Hampshire County, WV | 23,465 | $160,416 | $719 | 82.7% |
| Bedford County, PA | 47,513 | $207,500 | $784 | 77.5% |
| Morgan County, WV | 17,426 | $91,250 | $793 | 84.1% |
| Somerset County, PA | 72,817 | $140,368 | $753 | 80.4% |
Frequently Asked Questions
Common questions about the housing market in Allegany County, Maryland.
What is the median home price in Allegany County, Maryland?
The median home price in Allegany County, Maryland is $151,228, lower than the Maryland average of $267,101.
What is the average home price in Allegany County, Maryland?
The typical home price in Allegany County, Maryland, reported as the median sale price, is $151,228. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Allegany County, Maryland?
The median gross rent in Allegany County, Maryland is $805 per month, lower than the Maryland average of $1,704.
What was the median gross rent in Allegany County in 2020?
In 2020, the median gross rent in Allegany County, Maryland was $719 per month.
What is the price-to-rent ratio in Allegany County, Maryland?
The price-to-rent ratio in Allegany County, Maryland is about 15.7, meaning it would take roughly 15.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Allegany County.
Are home prices or rent rising faster in Allegany County, Maryland?
Both home prices and rent are rising in Allegany County, up about 12.4% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Allegany County, Maryland?
59.2% of households in Allegany County, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Allegany County, Maryland?
The housing vacancy rate in Allegany County, Maryland is 16.3%, higher than the Maryland average of 7.7%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →