Laurel, Maryland Housing Market Prices
Laurel 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.
-
Median home price 44% above the Maryland median$383,985
-
Median rent 6% above the Maryland median$1,810
Housing Market Overview
| Metric | Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $383,985 | $267,101 | $248,835 |
| Price Trend (Annual %) | 6.9% | 3.4% | 7.5% |
| Median Gross Rent | $1,810 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Laurel is about 44% higher than in Maryland. Rent is about 6% 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 Laurel, up about 6.9% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Laurel rose about 35.0% between 2015 and 2024, from $1,341 to $1,810. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Laurel.
Buying the median-priced home in Laurel costs roughly 17.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Laurel. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $383,985 | $267,101 | $248,835 |
| Median Household Income | $95,945 | $103,916 | $80,455 |
| Price-to-Income Ratio | 4.0 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Laurel rose about 37.5%, while median household income rose about 38.3% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.7% | 62.4% | 58.5% |
| Rental Rate | 52.6% | 29.9% | 31.2% |
| Vacancy Rate | 5.8% | 7.7% | 10.2% |
| Median Tenure (years) | 10.0 | 15.0 | 15.0 |
| Median Year Moved In | 2016 | 2011 | 2011 |
Laurel has a homeownership rate of 41.7%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 5.8%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1981 | 1977 | 1978 |
| Median Number of Rooms | 4.5 | 6.2 | 5.5 |
The typical housing unit in Laurel was built around 1981. On average, 2.4 people live in a home with about 4.5 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Laurel, Maryland.
What is the median home price in Laurel, Maryland?
The median home price in Laurel, Maryland is $383,985, higher than the Maryland average of $267,101.
What is the average home price in Laurel, Maryland?
The typical home price in Laurel, Maryland, reported as the median sale price, is $383,985. 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 Laurel, Maryland?
The median gross rent in Laurel, Maryland is $1,810 per month, higher than the Maryland average of $1,704.
What was the median gross rent in Laurel in 2020?
In 2020, the median gross rent in Laurel, Maryland was $1,513 per month.
What is the price-to-rent ratio in Laurel, Maryland?
The price-to-rent ratio in Laurel, Maryland is about 17.7, meaning it would take roughly 17.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Laurel.
Are home prices or rent rising faster in Laurel, Maryland?
Both home prices and rent are rising in Laurel, up about 6.9% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Laurel, Maryland?
41.7% of households in Laurel, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Laurel, Maryland?
The housing vacancy rate in Laurel, Maryland is 5.8%, lower than the Maryland average of 7.7%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →