Aspen Hill, Maryland Housing Market Prices
Aspen Hill 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.
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Median home price 90% above the Maryland median$508,106
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Median rent 12% above the Maryland median$1,905
Housing Market Overview
| Metric | Aspen Hill | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $508,106 | $267,101 | $248,835 |
| Price Trend (Annual %) | 6.7% | 3.4% | 7.5% |
| Median Gross Rent | $1,905 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 2.4% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Aspen Hill is about 90% higher than in Maryland. Rent is about 12% higher 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 Aspen Hill, up about 6.7% and 2.4% a year respectively. Home prices are changing faster.
Median rent in Aspen Hill rose about 24.2% between 2015 and 2024, from $1,534 to $1,905. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Aspen Hill.
Buying the median-priced home in Aspen Hill costs roughly 22.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Aspen Hill. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Aspen Hill | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $508,106 | $267,101 | $248,835 |
| Median Household Income | $115,644 | $103,916 | $80,455 |
| Price-to-Income Ratio | 4.4 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Aspen Hill rose about 140.6%, while median household income rose about 48.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Aspen Hill | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.0% | 62.4% | 58.5% |
| Rental Rate | 32.9% | 29.9% | 31.2% |
| Vacancy Rate | 4.0% | 7.7% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Aspen Hill has a homeownership rate of 63.0%, higher than the Maryland average of 62.4%. Its housing vacancy rate is 4.0%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Aspen Hill | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.09 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1971 | 1977 | 1978 |
| Median Number of Rooms | 6.2 | 6.2 | 5.5 |
The typical housing unit in Aspen Hill was built around 1971. On average, 3.1 people live in a home with about 6.2 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Aspen Hill, Maryland.
What is the median home price in Aspen Hill, Maryland?
The median home price in Aspen Hill, Maryland is $508,106, higher than the Maryland average of $267,101.
What is the average home price in Aspen Hill, Maryland?
The typical home price in Aspen Hill, Maryland, reported as the median sale price, is $508,106. 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 Aspen Hill, Maryland?
The median gross rent in Aspen Hill, Maryland is $1,905 per month, higher than the Maryland average of $1,704.
What was the median gross rent in Aspen Hill in 2020?
In 2020, the median gross rent in Aspen Hill, Maryland was $1,688 per month.
What is the price-to-rent ratio in Aspen Hill, Maryland?
The price-to-rent ratio in Aspen Hill, Maryland is about 22.2, meaning it would take roughly 22.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Aspen Hill.
Are home prices or rent rising faster in Aspen Hill, Maryland?
Both home prices and rent are rising in Aspen Hill, up about 6.7% and 2.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Aspen Hill, Maryland?
63.0% of households in Aspen Hill, Maryland own their home, higher than the Maryland average of 62.4%.
What is the vacancy rate in Aspen Hill, Maryland?
The housing vacancy rate in Aspen Hill, Maryland is 4.0%, lower than the Maryland average of 7.7%.
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