Parkville, Maryland Housing Market Prices
Parkville 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 6% below the Maryland median$249,979
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Median rent 10% below the Maryland median$1,526
Housing Market Overview
| Metric | Parkville | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $249,979 | $267,101 | $248,835 |
| Price Trend (Annual %) | 6.3% | 3.4% | 7.5% |
| Median Gross Rent | $1,526 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Parkville is about 6% lower than in Maryland. Rent is about 10% lower 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 Parkville, up about 6.3% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Parkville rose about 39.1% between 2015 and 2024, from $1,097 to $1,526. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Parkville.
Buying the median-priced home in Parkville costs roughly 13.7 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 Parkville. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Parkville | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $249,979 | $267,101 | $248,835 |
| Median Household Income | $78,821 | $103,916 | $80,455 |
| Price-to-Income Ratio | 3.2 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Parkville rose about 65.1%, while median household income rose about 49.4% 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 | Parkville | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.8% | 62.4% | 58.5% |
| Rental Rate | 34.7% | 29.9% | 31.2% |
| Vacancy Rate | 7.6% | 7.7% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Parkville has a homeownership rate of 57.8%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 7.6%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Parkville | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1957 | 1977 | 1978 |
| Median Number of Rooms | 6.2 | 6.2 | 5.5 |
The typical housing unit in Parkville was built around 1957. On average, 2.4 people live in a home with about 6.2 rooms, staying for about 14.0 years on average.
Parkville, MD Housing Compared With Nearby Cities
How Parkville, MD compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Parkville, MD | 30,547 | $249,979 #2/2 | $1,526 #2/2 | 62.5% #1/2 |
| Carney, MD | 28,224 | $427,955 | $1,766 | 58.5% |
Frequently Asked Questions
Common questions about the housing market in Parkville, Maryland.
What is the median home price in Parkville, Maryland?
The median home price in Parkville, Maryland is $249,979, lower than the Maryland average of $267,101.
What is the average home price in Parkville, Maryland?
The typical home price in Parkville, Maryland, reported as the median sale price, is $249,979. 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 Parkville, Maryland?
The median gross rent in Parkville, Maryland is $1,526 per month, lower than the Maryland average of $1,704.
What was the median gross rent in Parkville in 2020?
In 2020, the median gross rent in Parkville, Maryland was $1,239 per month.
What is the price-to-rent ratio in Parkville, Maryland?
The price-to-rent ratio in Parkville, Maryland is about 13.7, meaning it would take roughly 13.7 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 Parkville.
Are home prices or rent rising faster in Parkville, Maryland?
Both home prices and rent are rising in Parkville, up about 6.3% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Parkville, Maryland?
57.8% of households in Parkville, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Parkville, Maryland?
The housing vacancy rate in Parkville, Maryland is 7.6%, lower than the Maryland average of 7.7%.
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