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 35,065, 14,090 total housing units (homes and apartments), and a median house value of $561,550, real estate costs in Lutherville Timonium 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 Lutherville Timonium, accounting for 62.25% of the town's housing units. Other types of housing that are prevalent in Lutherville Timonium include large apartment complexes or high rise apartments ( 21.32%), row houses and other attached homes ( 15.77%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lutherville Timonium. Owner-occupied housing accounts for 84.20% of Lutherville Timonium's homes, and 66.28% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lutherville Timonium 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 Lutherville Timonium built between 1940-1969 ( 42.27%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.19%). There's also some housing in Lutherville Timonium built before 1939 ( 3.19%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Lutherville Timonium, where house values have increased just 48.78%, which is annualized rate of 4.05%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Lutherville Timonium appreciation rates have trailed the rest of the nation. In the last twelve months, Lutherville Timonium's appreciation rate has been 3.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lutherville Timonium were at 2.23%, which equates to an annual appreciation rate of 9.22%.
Relative to Maryland, our data show that Lutherville Timonium's latest annual appreciation rate is lower 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 Lutherville Timonium differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lutherville Timonium - 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 Lutherville Timonium real estate investment or home purchase decisions.
$561,550
for Maryland
for nation
14,090
$3,220 / per month