Median price for residential in as of Jul, 2022.
Take into account that the price depends on the location and condition of the . The size and amenities might have a large influence on the asking price as well.
112 Ocean City, MD, USA apartments for sale
Ocean City
According to statistics, the population in Ocean City, MD amounts to 7,026, which shows decline 0% compared to the previous year. The median age of the city’s residents is 56. The average household income is $54,659, shifting growth 3% from the past year, and the average property value in Ocean City, MD growth 6% to $290,700 throughout the year.
| Population | 7,026 |
| Median Age | 56.3 |
| Poverty Rate | 7% |
| Household Income | $54,659 |
| Number Of Employees | 3,500 |
| Median Property Value | $290,700 |
Household Income
The average household income in Ocean City, MD grew from $53,288 to $54,659 in the past year. This data is an estimate based upon 3,412 households in Ocean City, MD . The chart below presents how household income is distributed in Ocean City, MD in comparison to the revenue allocation amid households nationally.
Property Value
According to data from last year, the average property value in Ocean City, MD shifted from $275,200 to $290,700 throughout the year. The subsequent graph indicates the share of properties in the given price range in Ocean City, MD in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Ocean City, MD properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
Rent vs. Own
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Ocean City, MD compared to median property taxes around the country. The prevalent amount of property taxes in Ocean City, MD equals $3000, which is less than the national average.
Housing Trends
How much does an apartment cost in Ocean City, MD, USA
Average sale in Ocean City: $444,071 (-6.4%)
| Apartment Size | Jul | vs Last Month |
|---|---|---|
| Studio for sale | $111,241 | -79.4% |
| 1 bed for sale | $296,157 | -5.8% |
| 2 bed for sale | $388,697 | -9.1% |
| 3 bed for sale | $652,042 | +18.7% |
| 4+ bed for sale | $836,365 | -7.9% |
During Jul 2022, the average price for an apartment in/near Ocean City, MD decreased by 6.4% to $444,071.
After collecting all data points, we now see that the average price for 1-bed apartment decreased by 5.8% to $296,157. Asking price for 2-bed apartment also decreased by 9.1% and a place of this size will now cost you $388,697. A 3-bed apartment goes for $652,042, it increased by 18.7% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 7.9% and made it down to $836,365.
| Listing Type | Jul | vs Last Month |
|---|---|---|
| Apartments for sale | $320,869 | -11.6% |
| Townhouses for sale | $477,200 | -12% |
| Condos for sale | $432,957 | -2.3% |
| Houses for sale | $681,386 | +6.6% |
| Land for sale | $268,500 | -62.8% |
The average cost of an apartment in Ocean City, MD decreased by 11.6% to $320,869. Price reports demonstrate that house price increased by 6.6% this month making it up to $681,386. Condos faced an upward trend these days. The median price for a condo decreased by 2.3%, it’s now available for $432,957. The property value of townhouses decreased by 12%, you’ll have to spend around $477,200 to get one.