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 6,958 people, 2,538 houses or apartments, and a median cost of homes of $164,013, house prices in Frostburg are some of the most affordable in Maryland as well as the nation.
Single-family detached homes are the single most common housing type in Frostburg, accounting for 52.22% of the city's housing units. Other types of housing that are prevalent in Frostburg include large apartment complexes or high rise apartments ( 21.30%), duplexes, homes converted to apartments or other small apartment buildings ( 20.47%), and a few row houses and other attached homes ( 3.64%).
The most prevalent building size and type in Frostburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 38.27% owning and 61.73% renting.
Vacant housing appears to be an issue in Frostburg. Fully 16.07% of the housing stock is classified as vacant. Left unchecked, vacant Frostburg homes and apartments can be a drag on the real estate market, holding Frostburg 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Frostburg, where house values have increased just 14.60%, which is annualized rate of 1.37%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Frostburg appreciation rates have trailed the rest of the nation. In the last twelve months, Frostburg's appreciation rate has been -19.32%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Frostburg were at -0.22%, which equates to an annual appreciation rate of -0.88%.
Notably, Frostburg's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Maryland, our data show that Frostburg's latest annual appreciation rate is lower than 90% of the other cities and towns in Maryland.
$164,013
for Maryland
for nation
2,538
$1,329 / per month