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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Parkville, MD Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Parkville, MD Housing Market Trends

With a population of 31,812, 12,442 total housing units (homes and apartments), and a median house value of $310,350, Parkville real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Parkville homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Parkville, accounting for 44.05% of the town's housing units. Other types of housing that are prevalent in Parkville include row houses and other attached homes ( 28.82%), large apartment complexes or high rise apartments ( 20.26%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.53%).

The most prevalent building size and type in Parkville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.42% owning and 36.58% renting.

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. Parkville's housing was primarily built during this period, from the '40s through the '60s. A full 69.30% of the town's housing hails from this era. Other housing ages represented in Parkville include homes built between 1970-1999 ( 19.71%) and housing constructed before 1939 ( 8.97%). There's also some housing in Parkville built between 2000 and later ( 2.02%).

Parkville Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Parkville, where house values have increased just 52.81%, which is annualized rate of 4.33%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Parkville appreciation rates have trailed the rest of the nation. In the last twelve months, Parkville's appreciation rate has been 5.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Parkville were at 2.23%, which equates to an annual appreciation rate of 9.22%.

Relative to Maryland, our data show that Parkville's latest annual appreciation rate is higher than 50% 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 Parkville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Parkville - 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 Parkville real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$310,350

Parkville, MD Home Prices
> $1,302,000
$977,001 - $1,302,000
$651,001 - $977,000
$521,001 - $651,000
$390,001 - $521,000
$260,001 - $390,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
0.4%
0.4%
0.1%
0.1%
0.6%
0.6%
1.1%
1.1%
18.8%
18.8%
43.6%
43.6%
28.8%
28.8%
2.5%
2.5%
4.1%
4.1%
0% 100.0%
% of Homes
Very Low

for Maryland

Average

for nation

Number of Homes And Apartments:

12,442

Parkville Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,440 / per month

Homeownership Rate

Owners
Renters
63.4%
63.4%
36.6%
36.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.5%
9.5%
90.5%
90.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
2.0%
2.0%
19.7%
19.7%
69.3%
69.3%
9.0%
9.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
44.1%
44.1%
28.8%
28.8%
6.5%
6.5%
20.3%
20.3%
0.3%
0.3%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.6%
1.6%
8.5%
8.5%
27.1%
27.1%
47.0%
47.0%
13.2%
13.2%
2.6%
2.6%
0% 100.0%
% of Homes