North Laurel, Maryland Housing Market Prices
North 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.
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Median home price 131% above the Maryland median$616,908
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Median rent 18% above the Maryland median$2,008
Housing Market Overview
| Metric | North Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $616,908 | $267,101 | $248,835 |
| Price Trend (Annual %) | 20.2% | 3.4% | 7.5% |
| Median Gross Rent | $2,008 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 2.3% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in North Laurel is about 131% higher than in Maryland. Rent is about 18% 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 North Laurel, up about 20.2% and 2.3% a year respectively. Home prices are changing faster.
Median rent in North Laurel rose about 24.3% between 2015 and 2024, from $1,615 to $2,008. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in North Laurel.
Buying the median-priced home in North Laurel costs roughly 25.6 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 North Laurel. The price-to-rent ratio in Maryland is about 13.1.
| Metric | North Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $616,908 | $267,101 | $248,835 |
| Median Household Income | $118,897 | $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 North Laurel rose about 255.0%, while median household income rose about 43.7% 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 | North Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.5% | 62.4% | 58.5% |
| Rental Rate | 38.0% | 29.9% | 31.2% |
| Vacancy Rate | 3.5% | 7.7% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
North Laurel has a homeownership rate of 58.5%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 3.5%, compared with 7.7% in Maryland.
Housing Stock
| Metric | North Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.91 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1993 | 1977 | 1978 |
| Median Number of Rooms | 5.7 | 6.2 | 5.5 |
The typical housing unit in North Laurel was built around 1993. On average, 2.9 people live in a home with about 5.7 rooms, staying for about 12.0 years on average.
North Laurel, MD Housing Compared With Nearby Cities
How North Laurel, MD compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| North Laurel, MD | 23,968 | $616,908 #1/2 | $2,008 #1/2 | 60.6% #1/2 |
| Laurel, MD | 25,209 | $383,985 | $1,810 | 44.2% |
Frequently Asked Questions
Common questions about the housing market in North Laurel, Maryland.
What is the median home price in North Laurel, Maryland?
The median home price in North Laurel, Maryland is $616,908, higher than the Maryland average of $267,101.
What is the average home price in North Laurel, Maryland?
The typical home price in North Laurel, Maryland, reported as the median sale price, is $616,908. 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 North Laurel, Maryland?
The median gross rent in North Laurel, Maryland is $2,008 per month, higher than the Maryland average of $1,704.
What was the median gross rent in North Laurel in 2020?
In 2020, the median gross rent in North Laurel, Maryland was $1,707 per month.
What is the price-to-rent ratio in North Laurel, Maryland?
The price-to-rent ratio in North Laurel, Maryland is about 25.6, meaning it would take roughly 25.6 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 North Laurel.
Are home prices or rent rising faster in North Laurel, Maryland?
Both home prices and rent are rising in North Laurel, up about 20.2% and 2.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in North Laurel, Maryland?
58.5% of households in North Laurel, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in North Laurel, Maryland?
The housing vacancy rate in North Laurel, Maryland is 3.5%, lower than the Maryland average of 7.7%.
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