Olney, Maryland Housing Market Prices
Olney 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 77% above the Maryland median$473,528
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Median rent 41% above the Maryland median$2,410
Housing Market Overview
| Metric | Olney | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $473,528 | $267,101 | $248,835 |
| Price Trend (Annual %) | 2.3% | 3.4% | 7.5% |
| Median Gross Rent | $2,410 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Olney is about 77% higher than in Maryland. Rent is about 41% 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 Olney, up about 2.3% and 5.4% a year respectively. Rent is changing faster.
Median rent in Olney rose about 55.7% between 2015 and 2024, from $1,548 to $2,410. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Olney.
Buying the median-priced home in Olney costs roughly 16.4 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 Olney. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Olney | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $473,528 | $267,101 | $248,835 |
| Median Household Income | $175,237 | $103,916 | $80,455 |
| Price-to-Income Ratio | 2.7 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Olney rose about 22.1%, while median household income rose about 41.9% 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 | Olney | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 87.0% | 62.4% | 58.5% |
| Rental Rate | 10.9% | 29.9% | 31.2% |
| Vacancy Rate | 2.0% | 7.7% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Olney has a homeownership rate of 87.0%, higher than the Maryland average of 62.4%. Its housing vacancy rate is 2.0%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Olney | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.96 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1987 | 1977 | 1978 |
| Median Number of Rooms | 8.1 | 6.2 | 5.5 |
The typical housing unit in Olney was built around 1987. On average, 3.0 people live in a home with about 8.1 rooms, staying for about 17.0 years on average.
Olney, MD Housing Compared With Nearby Cities
How Olney, MD compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Olney, MD | 32,305 | $473,528 #2/2 | $2,410 #1/2 | 88.8% #1/2 |
| Aspen Hill, MD | 53,456 | $508,106 | $1,905 | 65.7% |
Frequently Asked Questions
Common questions about the housing market in Olney, Maryland.
What is the median home price in Olney, Maryland?
The median home price in Olney, Maryland is $473,528, higher than the Maryland average of $267,101.
What is the average home price in Olney, Maryland?
The typical home price in Olney, Maryland, reported as the median sale price, is $473,528. 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 Olney, Maryland?
The median gross rent in Olney, Maryland is $2,410 per month, higher than the Maryland average of $1,704.
What was the median gross rent in Olney in 2020?
In 2020, the median gross rent in Olney, Maryland was $2,052 per month.
What is the price-to-rent ratio in Olney, Maryland?
The price-to-rent ratio in Olney, Maryland is about 16.4, meaning it would take roughly 16.4 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 Olney.
Are home prices or rent rising faster in Olney, Maryland?
Both home prices and rent are rising in Olney, up about 2.3% and 5.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Olney, Maryland?
87.0% of households in Olney, Maryland own their home, higher than the Maryland average of 62.4%.
What is the vacancy rate in Olney, Maryland?
The housing vacancy rate in Olney, Maryland is 2.0%, lower than the Maryland average of 7.7%.
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