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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Takoma Park, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Takoma Park, MD Housing Market Trends

With a population of 17,390, 6,898 total housing units (homes and apartments), and a median house value of $809,916, Takoma Park house prices are not only among the most expensive in Maryland, Takoma Park 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 Takoma Park, accounting for 46.59% of the city's housing units. Other types of housing that are prevalent in Takoma Park include large apartment complexes or high rise apartments ( 44.93%), duplexes, homes converted to apartments or other small apartment buildings ( 6.23%), and a few row houses and other attached homes ( 2.03%).

People in Takoma Park primarily live in small (one, two or no bedroom) single-family detached homes. Takoma Park has a mixture of owner-occupied and renter-occupied housing.

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. Takoma Park's housing was primarily built during this period, from the '40s through the '60s. A full 54.17% of the city's housing hails from this era. Other housing ages represented in Takoma Park include homes built before 1939 ( 27.71%) and housing constructed between 1970-1999 ( 14.17%). There's also some housing in Takoma Park built between 2000 and later ( 3.95%).

Takoma Park Home Appreciation Rates

Takoma Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Takoma Park during the period has been just 4.73%, which is lower than 80% of US communities.

Over the last year, Takoma Park appreciation rates have trailed the rest of the nation. In the last twelve months, Takoma Park's appreciation rate has been 4.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Takoma Park were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Maryland, our data show that Takoma Park'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 Takoma Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Takoma Park - 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 Takoma Park real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$809,916

Takoma Park, MD Home Prices
> $1,206,000
$905,001 - $1,206,000
$603,001 - $905,000
$482,001 - $603,000
$362,001 - $482,000
$241,001 - $362,000
$121,001 - $241,000
$60,001 - $121,000
$0 - $60,000
14.4%
14.4%
24.6%
24.6%
36.8%
36.8%
6.6%
6.6%
2.8%
2.8%
8.7%
8.7%
4.8%
4.8%
0.2%
0.2%
0.9%
0.9%
0% 100.0%
% of Homes
Very High

for Maryland

Very High

for nation

Number of Homes And Apartments:

6,898

Takoma Park Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,642 / per month

Homeownership Rate

Owners
Renters
50.4%
50.4%
49.6%
49.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.0%
4.0%
96.0%
96.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.0%
4.0%
14.2%
14.2%
54.2%
54.2%
27.7%
27.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
46.6%
46.6%
2.0%
2.0%
6.2%
6.2%
44.9%
44.9%
0.0%
0.0%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.0%
5.0%
21.1%
21.1%
26.5%
26.5%
24.6%
24.6%
15.1%
15.1%
7.7%
7.7%
0% 100.0%
% of Homes