Pocomoke City, 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 Q2 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

Pocomoke City, MD Housing Market Trends

With 4,088 people, 1,692 houses or apartments, and a median cost of homes of $162,009, house prices in Pocomoke City are solidly below the national average.

Single-family detached homes are the single most common housing type in Pocomoke City, accounting for 78.31% of the city's housing units. Other types of housing that are prevalent in Pocomoke City include large apartment complexes or high rise apartments ( 13.27%), row houses and other attached homes ( 5.92%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.50%).

The most prevalent building size and type in Pocomoke City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 43.45% owning and 56.55% 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. Pocomoke City's housing was primarily built during this period, from the '40s through the '60s. A full 45.18% of the city's housing hails from this era. Other housing ages represented in Pocomoke City include homes built between 1970-1999 ( 25.93%) and housing constructed before 1939 ( 21.34%). There's also some housing in Pocomoke City built between 2000 and later ( 7.55%).

Vacant housing appears to be an issue in Pocomoke City. Fully 13.63% of the housing stock is classified as vacant. Left unchecked, vacant Pocomoke City homes and apartments can be a drag on the real estate market, holding Pocomoke City 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.

Pocomoke City Home Appreciation Rates

Pocomoke City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Pocomoke City during the period has been just 2.16%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Pocomoke City's appreciation rate, at 8.70%, has been at or slightly above the national average. In the latest quarter, Pocomoke City's appreciation rate has been 4.05%, which annualizes to a rate of 17.22%.

Importantly, this makes Pocomoke City one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$162,009

Pocomoke City, MD HOME PRICES

> $1,181,000
1.7%
1.7%
$886,001 - $1,181,000
0.0%
0.0%
$591,001 - $886,000
1.9%
1.9%
$472,001 - $591,000
0.9%
0.9%
$355,001 - $472,000
2.3%
2.3%
$236,001 - $355,000
7.1%
7.1%
$118,001 - $236,000
59.2%
59.2%
$59,001 - $118,000
24.0%
24.0%
$0 - $59,000
3.0%
3.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Very Low for MD

Value Relative To Nation

Number Of Homes And Apartments:
1,692

Pocomoke City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
53.42% 2.01%
1
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,152 / per month

Homeownership Rate

Owners
43.4%
43.4%
Renters
56.6%
56.6%
Vacant
13.6%
13.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
7.6%
7.6%
1970 - 1999
25.9%
25.9%
1940 - 1969
45.2%
45.2%
1939 or Older
21.3%
21.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
78.3%
78.3%
Townhomes
5.9%
5.9%
Small Apt. Buildings
2.5%
2.5%
Apt. Complexes
13.3%
13.3%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.6%
1.6%
1 Bedroom
10.3%
10.3%
2 Bedrooms
21.5%
21.5%
3 Bedrooms
50.6%
50.6%
4 Bedrooms
14.8%
14.8%
5 or more bedrooms
1.2%
1.2%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Pocomoke City

Zip Codes in Pocomoke City, MD