Silver Spring, Maryland Housing Market Prices
Silver Spring 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 38% below the Maryland median$165,627
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Median rent 12% above the Maryland median$1,915
Housing Market Overview
| Metric | Silver Spring | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $165,627 | $267,101 | $248,835 |
| Price Trend (Annual %) | -1.1% | 3.4% | 7.5% |
| Median Gross Rent | $1,915 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Silver Spring is about 38% lower than in Maryland. Rent is about 12% higher than the Maryland average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Silver Spring: home prices fell about 1.1% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
Median rent in Silver Spring rose about 29.8% between 2015 and 2024, from $1,475 to $1,915. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Silver Spring.
Buying the median-priced home in Silver Spring costs roughly 7.2 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 Silver Spring. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Silver Spring | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $165,627 | $267,101 | $248,835 |
| Median Household Income | $100,140 | $103,916 | $80,455 |
| Price-to-Income Ratio | 1.7 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Silver Spring fell about 64.6%, while median household income rose about 40.8% 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 | Silver Spring | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 36.4% | 62.4% | 58.5% |
| Rental Rate | 58.5% | 29.9% | 31.2% |
| Vacancy Rate | 5.1% | 7.7% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Silver Spring has a homeownership rate of 36.4%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 5.1%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Silver Spring | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1969 | 1977 | 1978 |
| Median Number of Rooms | 4.2 | 6.2 | 5.5 |
The typical housing unit in Silver Spring was built around 1969. On average, 2.4 people live in a home with about 4.2 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Silver Spring, Maryland.
What is the median home price in Silver Spring, Maryland?
The median home price in Silver Spring, Maryland is $165,627, lower than the Maryland average of $267,101.
What is the average home price in Silver Spring, Maryland?
The typical home price in Silver Spring, Maryland, reported as the median sale price, is $165,627. 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 Silver Spring, Maryland?
The median gross rent in Silver Spring, Maryland is $1,915 per month, higher than the Maryland average of $1,704.
What was the median gross rent in Silver Spring in 2020?
In 2020, the median gross rent in Silver Spring, Maryland was $1,682 per month.
What is the price-to-rent ratio in Silver Spring, Maryland?
The price-to-rent ratio in Silver Spring, Maryland is about 7.2, meaning it would take roughly 7.2 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 Silver Spring.
Are home prices or rent rising faster in Silver Spring, Maryland?
Home prices and rent are moving in opposite directions in Silver Spring: home prices fell about 1.1% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Silver Spring, Maryland?
36.4% of households in Silver Spring, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Silver Spring, Maryland?
The housing vacancy rate in Silver Spring, Maryland is 5.1%, lower than the Maryland average of 7.7%.
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