Elkridge, Maryland Housing Market Prices
Elkridge 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 31% above the Maryland median$349,998
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Median rent 34% above the Maryland median$2,276
Housing Market Overview
| Metric | Elkridge | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $349,998 | $267,101 | $248,835 |
| Price Trend (Annual %) | 1.9% | 3.4% | 7.5% |
| Median Gross Rent | $2,276 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Elkridge is about 31% higher than in Maryland. Rent is about 34% 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 Elkridge, up about 1.9% and 4.4% a year respectively. Rent is changing faster.
Median rent in Elkridge rose about 43.5% between 2015 and 2024, from $1,586 to $2,276. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Elkridge.
Buying the median-priced home in Elkridge costs roughly 12.8 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 Elkridge. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Elkridge | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $349,998 | $267,101 | $248,835 |
| Median Household Income | $139,900 | $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 Elkridge rose about 47.2%, while median household income rose about 69.0% 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 | Elkridge | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.3% | 62.4% | 58.5% |
| Rental Rate | 34.9% | 29.9% | 31.2% |
| Vacancy Rate | 4.8% | 7.7% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Elkridge has a homeownership rate of 60.3%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 4.8%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Elkridge | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.80 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 2001 | 1977 | 1978 |
| Median Number of Rooms | 5.5 | 6.2 | 5.5 |
The typical housing unit in Elkridge was built around 2001. On average, 2.8 people live in a home with about 5.5 rooms, staying for about 11.0 years on average.
Elkridge, MD Housing Compared With Nearby Cities
How Elkridge, MD compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Elkridge, MD | 24,792 | $349,998 #2/2 | $2,276 #1/2 | 63.4% #2/2 |
| Catonsville, MD | 43,371 | $380,953 | $1,724 | 69.7% |
Frequently Asked Questions
Common questions about the housing market in Elkridge, Maryland.
What is the median home price in Elkridge, Maryland?
The median home price in Elkridge, Maryland is $349,998, higher than the Maryland average of $267,101.
What is the average home price in Elkridge, Maryland?
The typical home price in Elkridge, Maryland, reported as the median sale price, is $349,998. 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 Elkridge, Maryland?
The median gross rent in Elkridge, Maryland is $2,276 per month, higher than the Maryland average of $1,704.
What was the median gross rent in Elkridge in 2020?
In 2020, the median gross rent in Elkridge, Maryland was $1,811 per month.
What is the price-to-rent ratio in Elkridge, Maryland?
The price-to-rent ratio in Elkridge, Maryland is about 12.8, meaning it would take roughly 12.8 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 Elkridge.
Are home prices or rent rising faster in Elkridge, Maryland?
Both home prices and rent are rising in Elkridge, up about 1.9% and 4.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Elkridge, Maryland?
60.3% of households in Elkridge, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Elkridge, Maryland?
The housing vacancy rate in Elkridge, Maryland is 4.8%, lower than the Maryland average of 7.7%.
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