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 5,259, 1,766 total housing units (homes and apartments), and a median house value of $414,212, Berlin real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Berlin, accounting for 61.30% of the town's housing units. Other types of housing that are prevalent in Berlin include large apartment complexes or high rise apartments ( 18.63%), row houses and other attached homes ( 12.30%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.77%).
The most prevalent building size and type in Berlin are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 54.25% owning and 45.75% renting.
Berlin homes and real estate are some of the newest in America. 44.88% of Berlin'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 Berlin real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 26.92%), and before 1939 ( 14.46%). There's also some housing in Berlin built between 1940-1969 ( 13.74%).
Appreciation rates for homes in Berlin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 105.61%, which ranks in the top 30% nationwide. This equates to an annual average Berlin house appreciation rate of 7.47%.
Appreciation rates are so strong in Berlin that despite a nationwide downturn in the housing market, Berlin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Berlin appreciation rates continue to be some of the highest in America, at 9.19%, which is higher than appreciation rates in 82.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Berlin. Berlin appreciation rates in the latest quarter were at 6.02%, which equates to an annual appreciation rate of 26.34%.
Importantly, this makes Berlin 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 Berlin's latest annual appreciation rate is higher than 90% 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 Berlin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Berlin - 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 Berlin real estate investment or home purchase decisions.
$414,212
for Maryland
for nation
1,766
$1,675 / per month