Rockville, 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

Rockville, MD Housing Market Trends

With a population of 68,079, 25,562 total housing units (homes and apartments), and a median house value of $626,956, Rockville house prices are not only among the most expensive in Maryland, Rockville real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Rockville, accounting for 42.13% of the city's housing units. Other types of housing that are prevalent in Rockville include large apartment complexes or high rise apartments ( 39.26%), row houses and other attached homes ( 16.44%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.95%).

The most prevalent building size and type in Rockville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.77% owning and 45.23% renting.

There is a lot of housing in Rockville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Rockville built between 1940-1969 ( 33.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 28.12%). There's also some housing in Rockville built before 1939 ( 2.46%).

Rockville Home Appreciation Rates

Real estate appreciation rates in Rockville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.68% during the period.

Over the last year, Rockville appreciation rates have trailed the rest of the nation. In the last twelve months, Rockville's appreciation rate has been 4.33%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rockville were at 1.43%, which equates to an annual appreciation rate of 5.85%.

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

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

Average Home Values

 

Median Home Value:
$626,956

Rockville, MD HOME PRICES

> $1,108,000
2.5%
2.5%
$831,001 - $1,108,000
15.2%
15.2%
$554,001 - $831,000
37.0%
37.0%
$443,001 - $554,000
15.7%
15.7%
$333,001 - $443,000
18.2%
18.2%
$222,001 - $333,000
5.5%
5.5%
$111,001 - $222,000
4.6%
4.6%
$56,001 - $111,000
0.8%
0.8%
$0 - $56,000
0.5%
0.5%
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:
25,562

Rockville 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
137.55% 4.21%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,592 / per month

Homeownership Rate

Owners
54.8%
54.8%
Renters
45.2%
45.2%
Vacant
5.2%
5.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
28.1%
28.1%
1970 - 1999
36.1%
36.1%
1940 - 1969
33.3%
33.3%
1939 or Older
2.5%
2.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
42.1%
42.1%
Townhomes
16.4%
16.4%
Small Apt. Buildings
2.0%
2.0%
Apt. Complexes
39.3%
39.3%
Mobile Homes
0.0%
0.0%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.4%
2.4%
1 Bedroom
15.2%
15.2%
2 Bedrooms
24.0%
24.0%
3 Bedrooms
26.4%
26.4%
4 Bedrooms
24.0%
24.0%
5 or more bedrooms
7.9%
7.9%
0.0% 100.0%
% OF HOMES