Chevy Chase, 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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Chevy Chase, MD Housing Market Trends

With 2,984 people, 998 houses or apartments, and a median cost of homes of $1,489,370, Chevy Chase house prices are not only among the most expensive in Maryland, Chevy Chase real estate also is some of the most expensive in all of America.

Chevy Chase is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Chevy Chase than is found in 98% of the communities in America.

The large homes that make up Chevy Chase are primarily owner-occupied ( 94.49%).

The housing in Chevy Chase was primarily built before 1939 ( 69.83%), making the housing stock in Chevy Chase some of the oldest overall in America, although there is a range of ages of homes in Chevy Chase. The next most important housing age is between 1940-1969 ( 16.09%), followed by between 2000 and later ( 9.77%). There's also some housing in Chevy Chase built between 1970-1999 ( 4.31%).

Chevy Chase Home Appreciation Rates

Appreciation rates for homes in Chevy Chase have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 37.20%, which ranks in the top 40% nationwide. This equates to an annual average Chevy Chase house appreciation rate of 3.21%.

Over the last year, Chevy Chase appreciation rates have trailed the rest of the nation. In the last twelve months, Chevy Chase's appreciation rate has been 4.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chevy Chase were at 1.46%, which equates to an annual appreciation rate of 5.95%.

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

Relative to Maryland, our data show that Chevy Chase'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 Chevy Chase differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chevy Chase - 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 Chevy Chase real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,489,370

Chevy Chase, MD HOME PRICES

> $1,152,000
78.0%
78.0%
$864,001 - $1,152,000
15.7%
15.7%
$576,001 - $864,000
2.3%
2.3%
$460,001 - $576,000
1.1%
1.1%
$345,001 - $460,000
1.1%
1.1%
$230,001 - $345,000
0.7%
0.7%
$115,001 - $230,000
0.5%
0.5%
$58,001 - $115,000
0.0%
0.0%
$0 - $58,000
0.6%
0.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MD

Value Relative To Nation

Number Of Homes And Apartments:
998

Chevy Chase Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
156.90% 4.60%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,508 / per month

Homeownership Rate

Owners
94.5%
94.5%
Renters
5.5%
5.5%
Vacant
4.4%
4.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
9.8%
9.8%
1970 - 1999
4.3%
4.3%
1940 - 1969
16.1%
16.1%
1939 or Older
69.8%
69.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
98.5%
98.5%
Townhomes
1.0%
1.0%
Small Apt. Buildings
0.0%
0.0%
Apt. Complexes
0.6%
0.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
0.0%
0.0%
2 Bedrooms
1.4%
1.4%
3 Bedrooms
20.7%
20.7%
4 Bedrooms
35.2%
35.2%
5 or more bedrooms
42.7%
42.7%
0.0% 100.0%
% OF HOMES