Salisbury, 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

Salisbury, MD Housing Market Trends

With 32,935 people, 12,542 houses or apartments, and a median cost of homes of $202,543, Salisbury real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Salisbury homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Salisbury, accounting for 41.81% of the city's housing units. Other types of housing that are prevalent in Salisbury include large apartment complexes or high rise apartments ( 37.61%), row houses and other attached homes ( 11.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.13%).

Salisbury is dominated by renter-occupied one, two, or no bedrooms apartments. 73.55% of Salisbury's dwellings are rentals.

There is a lot of housing in Salisbury 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 Salisbury built between 2000 and later ( 26.44%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.33%). There's also some housing in Salisbury built before 1939 ( 11.34%).

Vacant housing appears to be an issue in Salisbury. Fully 12.77% of the housing stock is classified as vacant. Left unchecked, vacant Salisbury homes and apartments can be a drag on the real estate market, holding Salisbury 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.

Salisbury Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Salisbury, where house values have increased just 14.70%, which is annualized rate of 1.38%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Salisbury appreciation rates have trailed the rest of the nation. In the last twelve months, Salisbury's appreciation rate has been 4.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Salisbury were at 0.97%, which equates to an annual appreciation rate of 3.95%.

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

Relative to Maryland, our data show that Salisbury's latest annual appreciation rate is lower than 80% 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 Salisbury differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Salisbury - 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 Salisbury real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$202,543

Salisbury, MD HOME PRICES

> $1,186,000
1.0%
1.0%
$889,001 - $1,186,000
0.2%
0.2%
$593,001 - $889,000
1.3%
1.3%
$474,001 - $593,000
1.2%
1.2%
$356,001 - $474,000
6.0%
6.0%
$237,001 - $356,000
23.3%
23.3%
$119,001 - $237,000
46.2%
46.2%
$59,001 - $119,000
15.9%
15.9%
$0 - $59,000
4.9%
4.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very Low for MD

Value Relative To Nation

Number Of Homes And Apartments:
12,542

Salisbury 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
58.53% 2.19%
1
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,362 / per month

Homeownership Rate

Owners
26.5%
26.5%
Renters
73.5%
73.5%
Vacant
12.8%
12.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
26.4%
26.4%
1970 - 1999
36.9%
36.9%
1940 - 1969
25.3%
25.3%
1939 or Older
11.3%
11.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
41.8%
41.8%
Townhomes
11.4%
11.4%
Small Apt. Buildings
9.1%
9.1%
Apt. Complexes
37.6%
37.6%
Mobile Homes
0.0%
0.0%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.7%
5.7%
1 Bedroom
13.3%
13.3%
2 Bedrooms
29.8%
29.8%
3 Bedrooms
35.8%
35.8%
4 Bedrooms
12.6%
12.6%
5 or more bedrooms
2.8%
2.8%
0.0% 100.0%
% OF HOMES