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 59,553, 22,430 total housing units (homes and apartments), and a median house value of $496,995, Towson real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Towson, accounting for 38.23% of the town's housing units. Other types of housing that are prevalent in Towson include single-family detached homes ( 34.24%), row houses and other attached homes ( 22.29%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.19%). 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 Towson are three and four bedroom dwellings. The town has a mixture of owners and renters, with 50.28% owning and 49.72% 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. Towson's housing was primarily built during this period, from the '40s through the '60s. A full 46.58% of the town's housing hails from this era. Other housing ages represented in Towson include homes built between 1970-1999 ( 28.17%) and housing constructed between 2000 and later ( 13.84%). There's also some housing in Towson built before 1939 ( 11.41%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Towson, where house values have increased just 53.59%, which is annualized rate of 4.38%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Towson's appreciation rate, at 5.49%, has been at or slightly above the national average. In the latest quarter, Towson's appreciation rate has been 2.23%, which annualizes to a rate of 9.22%.
Relative to Maryland, our data show that Towson'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 Towson differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Towson - 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 Towson real estate investment or home purchase decisions.
$496,995
for Maryland
for nation
22,430
$3,223 / per month