South Laurel, Maryland Housing Market Prices
South Laurel 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 79% below the Maryland median$55,000
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Median rent 8% above the Maryland median$1,841
Housing Market Overview
| Metric | South Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,000 | $267,101 | $248,835 |
| Price Trend (Annual %) | -19.2% | 3.4% | 7.5% |
| Median Gross Rent | $1,841 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in South Laurel is about 79% lower than in Maryland. Rent is about 8% higher than the Maryland average.
Median Home and Rent Price Trends
Median Home Prices, 2016-2022
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in South Laurel: home prices fell about 19.2% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
Median rent in South Laurel rose about 38.8% between 2015 and 2024, from $1,326 to $1,841. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 0.6 yearly household incomes in South Laurel.
Buying the median-priced home in South Laurel costs roughly 2.5 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 South Laurel. The price-to-rent ratio in Maryland is about 13.1.
| Metric | South Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,000 | $267,101 | $248,835 |
| Median Household Income | $92,261 | $103,916 | $80,455 |
| Price-to-Income Ratio | 0.6 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2016 and 2022, the median home price in South Laurel fell about 79.9%, while median household income rose about 30.3% 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 | South Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 39.6% | 62.4% | 58.5% |
| Rental Rate | 56.3% | 29.9% | 31.2% |
| Vacancy Rate | 4.1% | 7.7% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
South Laurel has a homeownership rate of 39.6%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 4.1%, compared with 7.7% in Maryland.
Housing Stock
| Metric | South Laurel | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1980 | 1977 | 1978 |
| Median Number of Rooms | 4.8 | 6.2 | 5.5 |
The typical housing unit in South Laurel was built around 1980. On average, 2.6 people live in a home with about 4.8 rooms, staying for about 11.0 years on average.
South Laurel, MD Housing Compared With Nearby Cities
How South Laurel, MD compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| South Laurel, MD | 30,999 | $55,000 #2/2 | $1,841 #1/2 | 41.3% #2/2 |
| Laurel, MD | 25,209 | $383,985 | $1,810 | 44.2% |
Frequently Asked Questions
Common questions about the housing market in South Laurel, Maryland.
What is the median home price in South Laurel, Maryland?
The median home price in South Laurel, Maryland is $55,000, lower than the Maryland average of $267,101.
What is the average home price in South Laurel, Maryland?
The typical home price in South Laurel, Maryland, reported as the median sale price, is $55,000. 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 South Laurel, Maryland?
The median gross rent in South Laurel, Maryland is $1,841 per month, higher than the Maryland average of $1,704.
What was the median gross rent in South Laurel in 2020?
In 2020, the median gross rent in South Laurel, Maryland was $1,592 per month.
What is the price-to-rent ratio in South Laurel, Maryland?
The price-to-rent ratio in South Laurel, Maryland is about 2.5, meaning it would take roughly 2.5 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 South Laurel.
Are home prices or rent rising faster in South Laurel, Maryland?
Home prices and rent are moving in opposite directions in South Laurel: home prices fell about 19.2% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in South Laurel, Maryland?
39.6% of households in South Laurel, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in South Laurel, Maryland?
The housing vacancy rate in South Laurel, Maryland is 4.1%, lower than the Maryland average of 7.7%.
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