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 2,141 people, 907 houses or apartments, and a median cost of homes of $718,109, Owings house prices are not only among the most expensive in Maryland, Owings real estate also is some of the most expensive in all of America.
Owings is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Owings than is found in 98% of the communities in America.
The large homes that make up Owings are primarily owner-occupied ( 93.27%).
Owings homes and real estate are some of the newest in America. 53.04% of Owings'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 Owings real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 36.27%), and between 1940-1969 ( 9.80%).
Vacant housing appears to be an issue in Owings. Fully 11.08% of the housing stock is classified as vacant. Left unchecked, vacant Owings homes and apartments can be a drag on the real estate market, holding Owings 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 Owings, where house values have increased just 40.89%, which is annualized rate of 3.49%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Owings appreciation rates have trailed the rest of the nation. In the last twelve months, Owings's appreciation rate has been 2.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Owings were at 3.11%, which equates to an annual appreciation rate of 13.04%.
Importantly, this makes Owings one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Maryland, our data show that Owings's latest annual appreciation rate is lower than 80% of the other cities and towns in Maryland.
$718,109
for Maryland
for nation
907
$2,692 / per month