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.
Housing Market Overview
| Metric | Langley Park | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | — | $285,029 | $242,182 |
| Price Trend (Annual %) | — | 4.8% | 8.2% |
| Median Gross Rent | $1,681 | $1,661 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
Rent is about 1% higher than the Maryland average.
Affordability
| Metric | Langley Park | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | — | $285,029 | $242,182 |
| Median Household Income | $81,506 | $101,971 | $78,145 |
| Price-to-Income Ratio | — | 2.8 | 3.1 |
Occupancy & Tenure
| Metric | Langley Park | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 19.6% | 62.0% | 58.2% |
| Rental Rate | 79.1% | 29.9% | 31.3% |
| Vacancy Rate | 1.3% | 8.1% | 10.6% |
| Median Tenure (years) | 10.0 | 15.0 | 15.0 |
| Median Year Moved In | 2016 | 2011 | 2011 |
Langley Park has a homeownership rate of 19.6%, lower than the Maryland average of 62.0%. Its housing vacancy rate is 1.3%, compared with 8.1% in Maryland.
Housing Stock
| Metric | Langley Park | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 4.05 people | 2.58 people | 2.54 people |
| Median Structure Built Year | 1969 | 1977 | 1978 |
| Median Number of Rooms | 4.0 | 6.2 | 5.5 |
The typical housing unit in Langley Park was built around 1969. On average, 4.0 people live in a home with about 4.0 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Langley Park, Maryland.
What is the median rent in Langley Park, Maryland?
The median gross rent in Langley Park, Maryland is $1,681 per month, higher than the Maryland average of $1,661.
What was the median gross rent in Langley Park in 2020?
In 2020, the median gross rent in Langley Park, Maryland was $1,409 per month.
What is the homeownership rate in Langley Park, Maryland?
19.6% of households in Langley Park, Maryland own their home, lower than the Maryland average of 62.0%.
What is the vacancy rate in Langley Park, Maryland?
The housing vacancy rate in Langley Park, Maryland is 1.3%, lower than the Maryland average of 8.1%.