Severna Park, Maryland Housing Market Prices
Severna Park 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 70% above the Maryland median$453,130
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Median rent 4% above the Maryland median$1,781
Housing Market Overview
| Metric | Severna Park | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $453,130 | $267,101 | $248,835 |
| Price Trend (Annual %) | 7.0% | 3.4% | 7.5% |
| Median Gross Rent | $1,781 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 1.9% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Severna Park is about 70% higher than in Maryland. Rent is about 4% 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 Severna Park, up about 7.0% and 1.9% a year respectively. Home prices are changing faster.
Median rent in Severna Park rose about 21.4% between 2015 and 2024, from $1,467 to $1,781. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Severna Park.
Buying the median-priced home in Severna Park costs roughly 21.2 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 Severna Park. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Severna Park | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $453,130 | $267,101 | $248,835 |
| Median Household Income | $174,094 | $103,916 | $80,455 |
| Price-to-Income Ratio | 2.6 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Severna Park rose about 4.7%, while median household income rose about 54.3% 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 | Severna Park | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 86.4% | 62.4% | 58.5% |
| Rental Rate | 9.6% | 29.9% | 31.2% |
| Vacancy Rate | 4.0% | 7.7% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Severna Park has a homeownership rate of 86.4%, higher than the Maryland average of 62.4%. Its housing vacancy rate is 4.0%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Severna Park | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.88 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1980 | 1977 | 1978 |
| Median Number of Rooms | 8.1 | 6.2 | 5.5 |
The typical housing unit in Severna Park was built around 1980. On average, 2.9 people live in a home with about 8.1 rooms, staying for about 17.0 years on average.
Severna Park, MD Housing Compared With Nearby Cities
How Severna Park, MD compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Severna Park, MD | 39,868 | $453,130 #1/2 | $1,781 #1/2 | 90.0% #1/2 |
| Glen Burnie, MD | 72,802 | $340,721 | $1,648 | 64.2% |
Frequently Asked Questions
Common questions about the housing market in Severna Park, Maryland.
What is the median home price in Severna Park, Maryland?
The median home price in Severna Park, Maryland is $453,130, higher than the Maryland average of $267,101.
What is the average home price in Severna Park, Maryland?
The typical home price in Severna Park, Maryland, reported as the median sale price, is $453,130. 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 Severna Park, Maryland?
The median gross rent in Severna Park, Maryland is $1,781 per month, higher than the Maryland average of $1,704.
What was the median gross rent in Severna Park in 2020?
In 2020, the median gross rent in Severna Park, Maryland was $1,606 per month.
What is the price-to-rent ratio in Severna Park, Maryland?
The price-to-rent ratio in Severna Park, Maryland is about 21.2, meaning it would take roughly 21.2 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 Severna Park.
Are home prices or rent rising faster in Severna Park, Maryland?
Both home prices and rent are rising in Severna Park, up about 7.0% and 1.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Severna Park, Maryland?
86.4% of households in Severna Park, Maryland own their home, higher than the Maryland average of 62.4%.
What is the vacancy rate in Severna Park, Maryland?
The housing vacancy rate in Severna Park, Maryland is 4.0%, lower than the Maryland average of 7.7%.
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