According to statistics, the population in Berlin, MD amounts to 4,566, which shows decline 1% compared to the previous year. The median age of the city’s residents is 43. The average household income is $58,177, shifting growth 12% from the past year, and the average property value in Berlin, MD growth 4% to $234,500 throughout the year.
|Number Of Employees||2,131|
|Median Property Value||$234,500|
The average household income in Berlin, MD grew from $51,875 to $58,177 in the past year. This data is an estimate based upon 1,830 households in Berlin, MD . The chart below presents how household income is distributed in Berlin, MD in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Berlin, MD shifted from $224,500 to $234,500 throughout the year. The subsequent graph indicates the share of properties in the given price range in Berlin, MD in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Berlin, MD properties falls in the '$200,000 to $249,999' range, which is lower than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Berlin, MD compared to median property taxes around the country. The prevalent amount of property taxes in Berlin, MD equals $2500, which is less than the national average.
During Nov 2022, the average price for an apartment in/near Berlin, MD decreased by 24.7% to $330,415.
After collecting all data points, we now see that the average price for 1-bed apartment stands at $110,000 with no changes this month. Asking price for 2-bed apartment also increased by 20.9% and a place of this size will now cost you $367,000. A 3-bed apartment goes for $350,414, it decreased by 21.9% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 17.5% and made it down to $400,000.
The average cost of an apartment in Berlin, MD decreased by 32.7% to $185,000. Price reports demonstrate that house price decreased by 21.8% this month making it up to $329,842. Condos faced an upward trend these days. The median price for a condo decreased by 15.9%, it’s now available for $367,400. An average value of duplex is $469,990, thus a median price for a duplex remains the same this month. The property value of townhouses decreased by 11.9%, you’ll have to spend around $409,495 to get one.