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 a population of 13,129, 5,314 total housing units (homes and apartments), and a median house value of $321,031, Cambridge real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Cambridge homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Cambridge, accounting for 56.18% of the city's housing units. Other types of housing that are prevalent in Cambridge include large apartment complexes or high rise apartments ( 20.16%), duplexes, homes converted to apartments or other small apartment buildings ( 11.20%), and a few row houses and other attached homes ( 10.73%).
People in Cambridge primarily live in small (one, two or no bedroom) single-family detached homes. Cambridge has a mixture of owner-occupied and renter-occupied housing.
Cambridge homes and real estate are some of the newest in America. 31.75% of Cambridge's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Cambridge real estate market has to offer. Quite a bit of the housing here was also built before 1939 ( 28.82%), and between 1940-1969 ( 20.25%). There's also some housing in Cambridge built between 1970-1999 ( 19.18%).
Vacant housing appears to be an issue in Cambridge. Fully 18.46% of the housing stock is classified as vacant. Left unchecked, vacant Cambridge homes and apartments can be a drag on the real estate market, holding Cambridge real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Cambridge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.95% during the period.
Over the last year, Cambridge appreciation rates have trailed the rest of the nation. In the last twelve months, Cambridge's appreciation rate has been 5.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cambridge were at -1.81%, which equates to an annual appreciation rate of -7.06%.
Notably, Cambridge's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Maryland, our data show that Cambridge's latest annual appreciation rate is lower than 50% 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 city. Individual neighborhoods within Cambridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cambridge - 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 Cambridge real estate investment or home purchase decisions.
$321,031
for Maryland
for nation
5,314
$1,724 / per month