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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.



Preston, 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

Preston, MD Housing Market Trends

With a population of 677, 294 total housing units (homes and apartments), and a median house value of $368,336, Preston real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Preston, accounting for 85.05% of the town's housing units. Other types of housing that are prevalent in Preston include large apartment complexes or high rise apartments ( 10.59%), row houses and other attached homes ( 4.36%).

The most prevalent building size and type in Preston are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.56% owning and 38.44% renting.

The housing in Preston was primarily built before 1939 ( 30.22%), making the housing stock in Preston some of the oldest overall in America, although there is a range of ages of homes in Preston. The next most important housing age is between 1970-1999 ( 28.04%), followed by between 1940-1969 ( 25.55%). There's also some housing in Preston built between 2000 and later ( 16.20%).

Preston Home Appreciation Rates

Real estate appreciation rates in Preston's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.92% during the period.

NeighborhoodScout's data show that during the latest twelve months, Preston's appreciation rate, at 6.68%, has been at or slightly above the national average. In the latest quarter, Preston's appreciation rate has been -1.81%, which annualizes to a rate of -7.06%.

Notably, Preston's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Maryland, our data show that Preston's latest annual appreciation rate is higher than 70% of the other cities and towns in Maryland.

Average Home Values

Median Home Value

$368,336

Preston, MD Home Prices
> $1,399,000
$1,050,001 - $1,399,000
$700,001 - $1,050,000
$560,001 - $700,000
$420,001 - $560,000
$280,001 - $420,000
$140,001 - $280,000
$70,001 - $140,000
$0 - $70,000
1.1%
1.1%
1.1%
1.1%
3.3%
3.3%
12.4%
12.4%
14.5%
14.5%
38.5%
38.5%
22.3%
22.3%
2.9%
2.9%
3.9%
3.9%
0% 100.0%
% of Homes
Low

for Maryland

High

for nation

Number of Homes And Apartments:

294

Preston Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,097 / per month

Homeownership Rate

Owners
Renters
61.6%
61.6%
38.4%
38.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.4%
8.4%
91.6%
91.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.2%
16.2%
28.0%
28.0%
25.5%
25.5%
30.2%
30.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
85.0%
85.0%
4.4%
4.4%
0.0%
0.0%
10.6%
10.6%
0.0%
0.0%
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
5.9%
5.9%
2.8%
2.8%
6.5%
6.5%
45.2%
45.2%
33.0%
33.0%
6.5%
6.5%
0% 100.0%
% of Homes