Housing Market Overview
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 Map: Nearby Counties
Housing Market Overview
| Metric | Anne Arundel County | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $352,027 | $285,029 | $242,182 |
| Price Trend (Annual %) | 1.6% | 4.8% | 8.2% |
| Median Gross Rent | $1,989 | $1,661 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Anne Arundel County is about 24% higher than in Maryland. Rent is about 20% higher than the Maryland average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Anne Arundel County, up about 1.6% and 3.9% a year respectively. Rent is changing faster.
Median rent in Anne Arundel County rose about 32.9% between 2015 and 2023, from $1,496 to $1,989. Over the same span, rent in Maryland rose about 35.2%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Anne Arundel County.
Buying the median-priced home in Anne Arundel County costs roughly 14.8 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Anne Arundel County. The price-to-rent ratio in Maryland is about 14.3.
| Metric | Anne Arundel County | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $352,027 | $285,029 | $242,182 |
| Median Household Income | $120,598 | $101,971 | $78,145 |
| Price-to-Income Ratio | 2.9 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Anne Arundel County rose about 16.7%, while median household income rose about 45.4% between 2009 and 2023 — 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 | Anne Arundel County | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.4% | 62.0% | 58.2% |
| Rental Rate | 23.8% | 29.9% | 31.3% |
| Vacancy Rate | 4.8% | 8.1% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Anne Arundel County has a homeownership rate of 71.4%, higher than the Maryland average of 62.0%. Its housing vacancy rate is 4.8%, compared with 8.1% in Maryland.
Housing Stock
| Metric | Anne Arundel County | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.58 people | 2.54 people |
| Median Structure Built Year | 1981 | 1977 | 1978 |
| Median Number of Rooms | 6.5 | 6.2 | 5.5 |
The typical housing unit in Anne Arundel County was built around 1981. On average, 2.6 people live in a home with about 6.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Anne Arundel County, Maryland.
What is the median home price in Anne Arundel County, Maryland?
The median home price in Anne Arundel County, Maryland is $352,027, higher than the Maryland average of $285,029.
What is the average home price in Anne Arundel County, Maryland?
The typical home price in %s, reported as the median sale price, is %s. 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 Anne Arundel County, Maryland?
The median gross rent in Anne Arundel County, Maryland is $1,989 per month, higher than the Maryland average of $1,661.
What was the median gross rent in Anne Arundel County in 2020?
In 2020, the median gross rent in Anne Arundel County, Maryland was $1,689 per month.
What is the price-to-rent ratio in Anne Arundel County, Maryland?
The price-to-rent ratio in Anne Arundel County, Maryland is about 14.8, meaning it would take roughly 14.8 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Anne Arundel County.
Are home prices or rent rising faster in Anne Arundel County, Maryland?
Both home prices and rent are rising in Anne Arundel County, up about 1.6% and 3.9% a year respectively. Rent is changing faster.
What is the homeownership rate in Anne Arundel County, Maryland?
71.4% of households in Anne Arundel County, Maryland own their home, higher than the Maryland average of 62.0%.
What is the vacancy rate in Anne Arundel County, Maryland?
The housing vacancy rate in Anne Arundel County, Maryland is 4.8%, lower than the Maryland average of 8.1%.