Caroline County, Maryland Housing Market Prices
Caroline 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.
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Median home price 34% above the Maryland median$357,432
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Median rent 35% below the Maryland median Among the top 5 cheapest counties in Maryland$1,104
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Caroline County | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $357,432 | $267,101 | $248,835 |
| Price Trend (Annual %) | 13.8% | 3.4% | 7.5% |
| Median Gross Rent | $1,104 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 2.5% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Caroline County is about 34% higher than in Maryland. Rent is about 35% 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 Caroline County, up about 13.8% and 2.5% a year respectively. Home prices are changing faster.
Median rent in Caroline County rose about 23.2% between 2015 and 2024, from $896 to $1,104. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Caroline County.
Buying the median-priced home in Caroline County costs roughly 27.0 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 Caroline County. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Caroline County | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $357,432 | $267,101 | $248,835 |
| Median Household Income | $69,099 | $103,916 | $80,455 |
| Price-to-Income Ratio | 5.2 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Caroline County rose about 116.3%, while median household income rose about 18.8% 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 | Caroline County | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.4% | 62.4% | 58.5% |
| Rental Rate | 26.0% | 29.9% | 31.2% |
| Vacancy Rate | 7.7% | 7.7% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Caroline County has a homeownership rate of 66.4%, higher than the Maryland average of 62.4%. Its housing vacancy rate is 7.7%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Caroline County | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1982 | 1977 | 1978 |
| Median Number of Rooms | 6.2 | 6.2 | 5.5 |
The typical housing unit in Caroline County was built around 1982. On average, 2.6 people live in a home with about 6.2 rooms, staying for about 17.0 years on average.
Caroline County, MD Housing Compared With Nearby Counties
Caroline County, MD is typical in size for this group, 33,666 residents against a local median of 37,917, so the measures below are close to a like for like comparison. The measure that sets Caroline County, MD apart most is median home price: $357,432, 54% above the local median of $231,617.
The counties themselves spread $349,955 on median home price, so Caroline County, MD sits at one end of an already wide local range rather than apart from it. Caroline County, MD has the 2nd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Caroline County, MD | 33,666 | $357,432 #2/6 | $1,104 #5/6 | 71.9% #5/6 |
| Queen Anne's County, MD | 51,825 | $231,617 | $1,619 | 82.9% |
| Talbot County, MD | 37,917 | $472,999 | $1,256 | 75.1% |
| Kent County, DE | 187,603 | $239,515 | $1,354 | 72.5% |
| Kent County, MD | 19,345 | $123,045 | $1,208 | 72.5% |
| Dorchester County, MD | 32,754 | $216,435 | $1,032 | 65.6% |
Frequently Asked Questions
Common questions about the housing market in Caroline County, Maryland.
What is the median home price in Caroline County, Maryland?
The median home price in Caroline County, Maryland is $357,432, higher than the Maryland average of $267,101.
What is the average home price in Caroline County, Maryland?
The typical home price in Caroline County, Maryland, reported as the median sale price, is $357,432. 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 Caroline County, Maryland?
The median gross rent in Caroline County, Maryland is $1,104 per month, lower than the Maryland average of $1,704.
What was the median gross rent in Caroline County in 2020?
In 2020, the median gross rent in Caroline County, Maryland was $1,003 per month.
What is the price-to-rent ratio in Caroline County, Maryland?
The price-to-rent ratio in Caroline County, Maryland is about 27.0, meaning it would take roughly 27.0 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 Caroline County.
Are home prices or rent rising faster in Caroline County, Maryland?
Both home prices and rent are rising in Caroline County, up about 13.8% and 2.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Caroline County, Maryland?
66.4% of households in Caroline County, Maryland own their home, higher than the Maryland average of 62.4%.
What is the vacancy rate in Caroline County, Maryland?
The housing vacancy rate in Caroline County, Maryland is 7.7%, lower than the Maryland average of 7.7%.
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