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 4,132, 1,724 total housing units (homes and apartments), and a median house value of $304,165, North East real estate values are some of the lowest in Maryland, although compared to real estate around the nation, North East homes are still considered rather expensive.
Row houses and other attached homes are the single most common housing type in North East, accounting for 36.42% of the town's housing units. Other types of housing that are prevalent in North East include single-family detached homes ( 27.80%), large apartment complexes or high rise apartments ( 21.14%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 14.64%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.
The most prevalent building size and type in North East are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The town has a mixture of owners and renters, with 57.73% owning and 42.27% renting.
North East homes and real estate are some of the newest in America. 46.08% of North East's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the North East real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 31.49%), and between 1940-1969 ( 15.77%). There's also some housing in North East built before 1939 ( 6.65%).
Vacant housing appears to be an issue in North East. Fully 15.03% of the housing stock is classified as vacant. Left unchecked, vacant North East homes and apartments can be a drag on the real estate market, holding North East 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.
North East's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in North East during the period has been just 4.78%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, North East's appreciation rate, at 6.87%, has been at or slightly above the national average. In the latest quarter, North East's appreciation rate has been 1.44%, which annualizes to a rate of 5.90%.
Relative to Maryland, our data show that North East's latest annual appreciation rate is higher than 70% of the other cities and towns in Maryland.
$304,165
for Maryland
for nation
1,724
$2,132 / per month