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 68,952 people, 25,671 houses or apartments, and a median cost of homes of $563,297, real estate costs in Gaithersburg 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.
Large apartment complexes or high rise apartments are the single most common housing type in Gaithersburg, accounting for 48.08% of the city's housing units. Other types of housing that are prevalent in Gaithersburg include row houses and other attached homes ( 28.90%), single-family detached homes ( 19.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.93%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
People in Gaithersburg primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Gaithersburg has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Gaithersburg 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 Gaithersburg built between 2000 and later ( 30.83%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.64%). There's also some housing in Gaithersburg built before 1939 ( 1.42%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Gaithersburg, where house values have increased just 50.24%, which is annualized rate of 4.15%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Gaithersburg's appreciation rate, at 5.29%, has been at or slightly above the national average. In the latest quarter, Gaithersburg's appreciation rate has been 3.11%, which annualizes to a rate of 13.04%.
Importantly, this makes Gaithersburg 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 Gaithersburg's latest annual appreciation rate is higher than 50% 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 Gaithersburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gaithersburg - 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 Gaithersburg real estate investment or home purchase decisions.
$563,297
for Maryland
for nation
25,671
$2,739 / per month