Owings Mills, Maryland Housing Market Prices
Owings Mills 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 22% above the Maryland median$326,093
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Median rent 7% above the Maryland median$1,830
Housing Market Overview
| Metric | Owings Mills | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $326,093 | $267,101 | $248,835 |
| Price Trend (Annual %) | 13.0% | 3.4% | 7.5% |
| Median Gross Rent | $1,830 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Owings Mills is about 22% higher than in Maryland. Rent is about 7% 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 Owings Mills, up about 13.0% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Owings Mills rose about 32.3% between 2015 and 2024, from $1,383 to $1,830. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Owings Mills.
Buying the median-priced home in Owings Mills costs roughly 14.9 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 Owings Mills. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Owings Mills | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $326,093 | $267,101 | $248,835 |
| Median Household Income | $95,930 | $103,916 | $80,455 |
| Price-to-Income Ratio | 3.4 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Owings Mills rose about 113.9%, while median household income rose about 35.6% 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 | Owings Mills | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.5% | 62.4% | 58.5% |
| Rental Rate | 45.5% | 29.9% | 31.2% |
| Vacancy Rate | 6.0% | 7.7% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Owings Mills has a homeownership rate of 48.5%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 6.0%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Owings Mills | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1995 | 1977 | 1978 |
| Median Number of Rooms | 5.6 | 6.2 | 5.5 |
The typical housing unit in Owings Mills was built around 1995. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 12.0 years on average.
Owings Mills, MD Housing Compared With Nearby Cities
How Owings Mills, MD compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Owings Mills, MD | 38,773 | $326,093 #1/2 | $1,830 #1/2 | 51.6% #2/2 |
| Reisterstown, MD | 25,579 | $300,707 | $1,600 | 66.2% |
Frequently Asked Questions
Common questions about the housing market in Owings Mills, Maryland.
What is the median home price in Owings Mills, Maryland?
The median home price in Owings Mills, Maryland is $326,093, higher than the Maryland average of $267,101.
What is the average home price in Owings Mills, Maryland?
The typical home price in Owings Mills, Maryland, reported as the median sale price, is $326,093. 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 Owings Mills, Maryland?
The median gross rent in Owings Mills, Maryland is $1,830 per month, higher than the Maryland average of $1,704.
What was the median gross rent in Owings Mills in 2020?
In 2020, the median gross rent in Owings Mills, Maryland was $1,567 per month.
What is the price-to-rent ratio in Owings Mills, Maryland?
The price-to-rent ratio in Owings Mills, Maryland is about 14.9, meaning it would take roughly 14.9 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 Owings Mills.
Are home prices or rent rising faster in Owings Mills, Maryland?
Both home prices and rent are rising in Owings Mills, up about 13.0% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Owings Mills, Maryland?
48.5% of households in Owings Mills, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Owings Mills, Maryland?
The housing vacancy rate in Owings Mills, Maryland is 6.0%, lower than the Maryland average of 7.7%.
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