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 29,641 people, 10,467 houses or apartments, and a median cost of homes of $626,175, real estate costs in Crofton are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Maryland communities.
Single-family detached homes are the single most common housing type in Crofton, accounting for 45.72% of the town's housing units. Other types of housing that are prevalent in Crofton include row houses and other attached homes ( 45.34%), large apartment complexes or high rise apartments ( 8.26%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Crofton. Owner-occupied housing accounts for 80.60% of Crofton's homes, and 66.59% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Crofton 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 Crofton built between 2000 and later ( 16.35%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.90%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Crofton, where house values have increased just 53.53%, which is annualized rate of 4.38%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Crofton that despite a nationwide downturn in the housing market, Crofton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Crofton appreciation rates continue to be some of the highest in America, at 11.81%, which is higher than appreciation rates in 71.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Crofton. Crofton appreciation rates in the latest quarter were at 3.03%, which equates to an annual appreciation rate of 12.68%.
Relative to Maryland, our data show that Crofton's latest annual appreciation rate is higher than 70% 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 town. Individual neighborhoods within Crofton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Crofton - 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 Crofton real estate investment or home purchase decisions.
$626,175
for Maryland
for nation
10,467
$3,631 / per month