According to statistics, the population in Cumberland, MD amounts to 20,084, which shows decline -1% compared to the previous year. The median age of the city’s residents is 40. The average household income is $32,825, shifting growth 3% from the past year, and the average property value in Cumberland, MD growth 2% to $89,600 throughout the year.
|Number Of Employees||8,046|
|Median Property Value||$89,600|
The average household income in Cumberland, MD grew from $31,855 to $32,825 in the past year. This data is an estimate based upon 8,437 households in Cumberland, MD . The chart below presents how household income is distributed in Cumberland, MD in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Cumberland, MD shifted from $87,700 to $89,600 throughout the year. The subsequent graph indicates the share of properties in the given price range in Cumberland, MD in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Cumberland, MD properties falls in the '$70,000 to $79,999' 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 Cumberland, MD compared to median property taxes around the country. The prevalent amount of property taxes in Cumberland, MD equals $1150, which is less than the national average.
During Nov 2022, the average price for an apartment in/near Cumberland, MD decreased by 23% to $132,228.
After collecting all data points, we now see that the average price for 1-bed apartment stands at $29,900 with no changes this month. Asking price for 2-bed apartment also decreased by 11.1% and a place of this size will now cost you $103,395. A 3-bed apartment goes for $89,242, it decreased by 27.3% lately. We discerned the rise of 4- and more bed apartment price. It increased by 0.4% and made it up to $276,285.
Price reports demonstrate that house price decreased by 12.4% this month making it up to $132,919. Condos faced an upward trend these days. The median price for a condo decreased by 81.1%, it’s now available for $19,286. You can now purchase a duplex for just $342,450, duplex price increased by 23.9% this month. The price statistics of lofts have not significantly changed, it now still goes for $518,735. The property value of townhouses increased by 29.9%, you’ll have to spend around $101,983 to get one.