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 a population of 47,018, 16,328 total housing units (homes and apartments), and a median house value of $1,462,098, Potomac house prices are not only among the most expensive in Maryland, Potomac real estate also is some of the most expensive in all of America.
Potomac is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Potomac than is found in 98% of the communities in America.
The large homes that make up Potomac are primarily owner-occupied ( 84.52%).
There is a lot of housing in Potomac 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 Potomac built between 1940-1969 ( 31.09%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.03%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Potomac, where house values have increased just 38.99%, which is annualized rate of 3.35%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Potomac that despite a nationwide downturn in the housing market, Potomac real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Potomac appreciation rates continue to be some of the highest in America, at 8.57%, which is higher than appreciation rates in 76.51% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Potomac. Potomac appreciation rates in the latest quarter were at 3.11%, which equates to an annual appreciation rate of 13.04%.
Importantly, this makes Potomac 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 Potomac's latest annual appreciation rate is higher 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 town. Individual neighborhoods within Potomac differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Potomac - 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 Potomac real estate investment or home purchase decisions.
$1,462,098
for Maryland
for nation
16,328
$4,118 / per month