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 6,019 people, 2,557 houses or apartments, and a median cost of homes of $538,377, real estate costs in Cheverly are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Maryland communities.
Single-family detached homes are the single most common housing type in Cheverly, accounting for 81.96% of the town's housing units. Other types of housing that are prevalent in Cheverly include large apartment complexes or high rise apartments ( 16.14%), duplexes, homes converted to apartments or other small apartment buildings ( 1.90%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cheverly. Owner-occupied housing accounts for 76.92% of Cheverly's homes, and 66.25% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Cheverly's housing was primarily built during this period, from the '40s through the '60s. A full 62.37% of the town's housing hails from this era. Other housing ages represented in Cheverly include homes built between 1970-1999 ( 22.96%) and housing constructed before 1939 ( 14.00%).
In the last 10 years, Cheverly has experienced some of the highest home appreciation rates of any community in the nation. Cheverly real estate appreciated 117.95% over the last ten years, which is an average annual home appreciation rate of 8.10%, putting Cheverly in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cheverly definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Cheverly appreciation rates have trailed the rest of the nation. In the last twelve months, Cheverly's appreciation rate has been 4.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cheverly were at 0.00%, which equates to an annual appreciation rate of 0.00%.
Relative to Maryland, our data show that Cheverly's latest annual appreciation rate is lower than 60% of the other cities and towns in Maryland.
$538,377
for Maryland
for nation
2,557
$2,120 / per month