Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 10,596 people, 4,897 houses or apartments, and a median cost of homes of $442,358, Bel Air real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Bel Air, accounting for 38.77% of the town's housing units. Other types of housing that are prevalent in Bel Air include single-family detached homes ( 35.65%), row houses and other attached homes ( 19.94%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.64%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.
People in Bel Air primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Bel Air has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Bel Air built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bel Air built between 1940-1969 ( 29.54%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.72%). There's also some housing in Bel Air built before 1939 ( 2.98%).
Bel Air's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bel Air during the period has been just 5.17%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Bel Air's appreciation rate, at 7.26%, has been at or slightly above the national average. In the latest quarter, Bel Air's appreciation rate has been 2.23%, which annualizes to a rate of 9.22%.
Relative to Maryland, our data show that Bel Air's latest annual appreciation rate is higher than 70% of the other cities and towns in Maryland.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Bel Air differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bel Air - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bel Air real estate investment or home purchase decisions.
$442,358
for Maryland
for nation
4,897
$2,911 / per month