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 10,535 people, 1,735 houses or apartments, and a median cost of homes of $547,653, real estate costs in Jessup 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 Jessup, accounting for 47.98% of the town's housing units. Other types of housing that are prevalent in Jessup include large apartment complexes or high rise apartments ( 34.27%), row houses and other attached homes ( 14.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.81%).
Renters dominate Jessup's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
Jessup homes and real estate are some of the newest in America. 60.51% of Jessup's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Jessup real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 18.82%), and between 1940-1969 ( 16.40%). There's also some housing in Jessup built before 1939 ( 4.27%).
Jessup's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Jessup during the period has been just 5.04%, which is lower than 80% of US communities.
Appreciation rates are so strong in Jessup that despite a nationwide downturn in the housing market, Jessup real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Jessup appreciation rates continue to be some of the highest in America, at 12.24%, which is higher than appreciation rates in 73.91% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Jessup. Jessup appreciation rates in the latest quarter were at 2.94%, which equates to an annual appreciation rate of 12.30%.
Relative to Maryland, our data show that Jessup's latest annual appreciation rate is higher than 70% of the other cities and towns in Maryland.
$547,653
for Maryland
for nation
1,735
$3,425 / per month