Mount Rainier, 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

Mount Rainier, MD Housing Market Trends

With 8,093 people, 3,581 houses or apartments, and a median cost of homes of $429,933, real estate costs in Mount Rainier are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Maryland communities.

Large apartment complexes or high rise apartments are the single most common housing type in Mount Rainier, accounting for 54.65% of the city's housing units. Other types of housing that are prevalent in Mount Rainier include single-family detached homes ( 28.42%), duplexes, homes converted to apartments or other small apartment buildings ( 15.50%), and a few row houses and other attached homes ( 1.43%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Mount Rainier is dominated by renter-occupied one, two, or no bedrooms apartments. 75.87% of Mount Rainier's dwellings are rentals.

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. Mount Rainier's housing was primarily built during this period, from the '40s through the '60s. A full 46.76% of the city's housing hails from this era. Other housing ages represented in Mount Rainier include homes built before 1939 ( 29.98%) and housing constructed between 1970-1999 ( 19.17%). There's also some housing in Mount Rainier built between 2000 and later ( 4.09%).

Mount Rainier Home Appreciation Rates

In the last 10 years, Mount Rainier has experienced some of the highest home appreciation rates of any community in the nation. Mount Rainier real estate appreciated 93.00% over the last ten years, which is an average annual home appreciation rate of 6.80%, putting Mount Rainier in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mount Rainier definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Mount Rainier appreciation rates have trailed the rest of the nation. In the last twelve months, Mount Rainier's appreciation rate has been 4.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mount Rainier were at 1.47%, which equates to an annual appreciation rate of 6.01%.

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

Relative to Maryland, our data show that Mount Rainier's latest annual appreciation rate is higher than 60% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$429,933

Mount Rainier, MD HOME PRICES

> $1,217,000
0.0%
0.0%
$913,001 - $1,217,000
0.0%
0.0%
$608,001 - $913,000
8.9%
8.9%
$487,001 - $608,000
24.2%
24.2%
$365,001 - $487,000
37.2%
37.2%
$243,001 - $365,000
22.8%
22.8%
$122,001 - $243,000
6.9%
6.9%
$61,001 - $122,000
0.0%
0.0%
$0 - $61,000
0.0%
0.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for MD

Value Relative To Nation

Number Of Homes And Apartments:
3,581

Mount Rainier 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
231.74% 5.88%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,579 / per month

Homeownership Rate

Owners
24.1%
24.1%
Renters
75.9%
75.9%
Vacant
6.7%
6.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.1%
4.1%
1970 - 1999
19.2%
19.2%
1940 - 1969
46.8%
46.8%
1939 or Older
30.0%
30.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
28.4%
28.4%
Townhomes
1.4%
1.4%
Small Apt. Buildings
15.5%
15.5%
Apt. Complexes
54.6%
54.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.9%
3.9%
1 Bedroom
40.6%
40.6%
2 Bedrooms
32.6%
32.6%
3 Bedrooms
12.5%
12.5%
4 Bedrooms
8.4%
8.4%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Mount Rainier

Zip Codes in Mount Rainier, MD