Maryland Housing Market Prices
Maryland 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 7% above the US median$267,101
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Median rent 21% above the US median More expensive than 86% of states in US$1,704
Median Home Price Map: Counties in Maryland
Housing Market Overview
| Metric | Maryland | US Average |
|---|---|---|
| Median Home Price | $267,101 | $248,835 |
| Price Trend (Annual %) | 3.4% | 7.5% |
| Median Gross Rent | $1,704 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Maryland is about 7% higher than in US. Rent is about 21% higher than the US 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 Maryland, up about 3.4% and 3.8% a year respectively. Rent is changing faster.
Median rent in Maryland rose about 38.7% between 2015 and 2024, from $1,229 to $1,704. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Maryland.
Buying the median-priced home in Maryland costs roughly 13.1 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 Maryland. The price-to-rent ratio in US is about 14.7.
| Metric | Maryland | US Average |
|---|---|---|
| Median Home Price | $267,101 | $248,835 |
| Median Household Income | $103,916 | $80,455 |
| Price-to-Income Ratio | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Maryland rose about 36.9%, while median household income rose about 45.7% 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 | Maryland | US Average |
|---|---|---|
| Homeownership Rate | 62.4% | 58.5% |
| Rental Rate | 29.9% | 31.2% |
| Vacancy Rate | 7.7% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 |
Maryland has a homeownership rate of 62.4%, higher than the US average of 58.5%. Its housing vacancy rate is 7.7%, compared with 10.2% in US.
Housing Stock
| Metric | Maryland | US Average |
|---|---|---|
| Average Household Size | 2.57 people | 2.53 people |
| Median Structure Built Year | 1977 | 1978 |
| Median Number of Rooms | 6.2 | 5.5 |
The typical housing unit in Maryland was built around 1977. On average, 2.6 people live in a home with about 6.2 rooms, staying for about 15.0 years on average.
Maryland Housing Compared With Nearby States
Maryland is the 4th largest of the 6 states compared here, 6,204,886 residents against a local median of 8,702,460. There is no headline here. Every measure below sits within 15% of the median across the nearest states, which makes Maryland an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is median rent, 8% above the local median at $1,704 against $1,579. Maryland has the 3rd highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Maryland | 6,204,886 | $267,101 #3/6 | $1,704 #3/6 | 67.6% #3/6 |
| District of Columbia | 678,314 | $597,276 | $1,953 | 41.5% |
| Delaware | 1,017,061 | $243,076 | $1,401 | 72.9% |
| Pennsylvania | 13,004,688 | $152,469 | $1,208 | 69.3% |
| New Jersey | 9,334,304 | $352,792 | $1,719 | 63.8% |
| Virginia | 8,702,460 | $256,082 | $1,579 | 67.3% |
Frequently Asked Questions
Common questions about the housing market in Maryland.
What is the median home price in Maryland?
The median home price in Maryland is $267,101, higher than the US average of $248,835.
What is the average home price in Maryland?
The typical home price in Maryland, reported as the median sale price, is $267,101. 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 Maryland?
The median gross rent in Maryland is $1,704 per month, higher than the US average of $1,407.
What was the median gross rent in Maryland in 2020?
In 2020, the median gross rent in Maryland was $1,415 per month.
What is the price-to-rent ratio in Maryland?
The price-to-rent ratio in Maryland is about 13.1, meaning it would take roughly 13.1 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 Maryland.
Are home prices or rent rising faster in Maryland?
Both home prices and rent are rising in Maryland, up about 3.4% and 3.8% a year respectively. Rent is changing faster.
What is the homeownership rate in Maryland?
62.4% of households in Maryland own their home, higher than the US average of 58.5%.
What is the vacancy rate in Maryland?
The housing vacancy rate in Maryland is 7.7%, lower than the US average of 10.2%.
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