Parkville, 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 Q1 2021. 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

Parkville, MD Housing Market Trends

With 31,570 people, 12,194 houses or apartments, and a median cost of homes of $230,911, Parkville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Parkville, accounting for 41.20% of the town's housing units. Other types of housing that are prevalent in Parkville include row houses and other attached homes ( 30.79%), large apartment complexes or high rise apartments ( 20.81%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.79%).

The most prevalent building size and type in Parkville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.49% owning and 39.51% 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. Parkville's housing was primarily built during this period, from the '40s through the '60s. A full 70.52% of the town's housing hails from this era. Other housing ages represented in Parkville include homes built between 1970-1999 ( 18.53%) and housing constructed before 1939 ( 10.13%).

Parkville Home Appreciation Rates

Parkville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Parkville during the period has been just 1.72%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Parkville's appreciation rate, at 6.21%, has been at or slightly above the national average. In the latest quarter, Parkville's appreciation rate has been 1.63%, which annualizes to a rate of 6.66%.

Relative to Maryland, our data show that Parkville's latest annual appreciation rate is higher than 60% 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 Parkville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Parkville - 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 Parkville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$230,911

Parkville, MD HOME PRICES

> $1,134,000
0.4%
0.4%
$850,001 - $1,134,000
0.1%
0.1%
$567,001 - $850,000
0.8%
0.8%
$453,001 - $567,000
1.1%
1.1%
$340,001 - $453,000
2.0%
2.0%
$227,001 - $340,000
40.4%
40.4%
$113,001 - $227,000
51.9%
51.9%
$57,001 - $113,000
1.2%
1.2%
$0 - $57,000
2.1%
2.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for MD

Value Relative To Nation

Number Of Homes And Apartments:
12,194

Parkville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
90.22% 3.07%
6
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,675 / per month

Homeownership Rate

Owners
60.5%
60.5%
Renters
39.5%
39.5%
Vacant
7.3%
7.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
0.8%
0.8%
1970 - 1999
18.5%
18.5%
1940 - 1969
70.5%
70.5%
1939 or Older
10.1%
10.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
41.2%
41.2%
Townhomes
30.8%
30.8%
Small Apt. Buildings
6.8%
6.8%
Apt. Complexes
20.8%
20.8%
Mobile Homes
0.4%
0.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
10.4%
10.4%
2 Bedrooms
27.9%
27.9%
3 Bedrooms
45.3%
45.3%
4 Bedrooms
12.8%
12.8%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES