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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Chestertown, MD Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Chestertown, MD Housing Market Trends

With 5,563 people, 2,306 houses or apartments, and a median cost of homes of $446,230, Chestertown real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Chestertown, accounting for 46.76% of the town's housing units. Other types of housing that are prevalent in Chestertown include large apartment complexes or high rise apartments ( 28.50%), duplexes, homes converted to apartments or other small apartment buildings ( 12.12%), and a few row houses and other attached homes ( 8.44%).

The most prevalent building size and type in Chestertown are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 35.03% owning and 64.97% renting.

There is a lot of housing in Chestertown 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 Chestertown built before 1939 ( 19.21%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.40%). There's also some housing in Chestertown built between 1940-1969 ( 16.46%).

Chestertown Home Appreciation Rates

Real estate appreciation rates in Chestertown's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.08% during the period.

Appreciation rates are so strong in Chestertown that despite a nationwide downturn in the housing market, Chestertown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chestertown appreciation rates continue to be some of the highest in America, at 9.55%, which is higher than appreciation rates in 84.75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chestertown. Chestertown appreciation rates in the latest quarter were at -1.81%, which equates to an annual appreciation rate of -7.06%.

Notably, Chestertown's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Maryland, our data show that Chestertown's latest annual appreciation rate is higher than 90% of the other cities and towns in Maryland.

Average Home Values

Median Home Value

$446,230

Chestertown Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,742 / per month

Homeownership Rate

Owners
Renters
35.0%
35.0%
65.0%
65.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.6%
5.6%
94.4%
94.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.4%
17.4%
46.9%
46.9%
16.5%
16.5%
19.2%
19.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
46.8%
46.8%
8.4%
8.4%
12.1%
12.1%
28.5%
28.5%
4.2%
4.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.7%
0.7%
13.6%
13.6%
32.8%
32.8%
37.2%
37.2%
14.1%
14.1%
1.6%
1.6%
0% 100.0%
% of Homes