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 2,272 people, 900 houses or apartments, and a median cost of homes of $220,652, house prices in Snow Hill are solidly below the national average.
Single-family detached homes are the single most common housing type in Snow Hill, accounting for 81.72% of the town's housing units. Other types of housing that are prevalent in Snow Hill include large apartment complexes or high rise apartments ( 13.29%), duplexes, homes converted to apartments or other small apartment buildings ( 4.11%).
The most prevalent building size and type in Snow Hill are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.29% owning and 39.71% renting.
There is a lot of housing in Snow Hill 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 Snow Hill built before 1939 ( 32.36%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.89%). There's also some housing in Snow Hill built between 2000 and later ( 13.00%).
Vacant housing appears to be an issue in Snow Hill. Fully 12.02% of the housing stock is classified as vacant. Left unchecked, vacant Snow Hill homes and apartments can be a drag on the real estate market, holding Snow Hill real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Snow Hill's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Snow Hill during the period has been just 4.99%, which is lower than 80% of US communities.
Over the last year, Snow Hill appreciation rates have trailed the rest of the nation. In the last twelve months, Snow Hill's appreciation rate has been -5.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Snow Hill were at 6.02%, which equates to an annual appreciation rate of 26.34%.
Importantly, this makes Snow Hill 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 Snow Hill's latest annual appreciation rate is lower than 90% of the other cities and towns in Maryland.
$220,652
for Maryland
for nation
900
$1,714 / per month