Home Value Trail

States › Maryland

State

Maryland

24 counties with an index · 10 metro and micro areas · 371 ZIP codes · 47 permit-issuing places · 6,265,347 residents (2025 est.)

FHFA quarterly index through 2026 Q2Annual index 1975–2025Permits through August 2026
FHFA all-transactions house price index for Maryland, quarterly from 1975 to 2026 Q2, with the national index rebased to the same start and NBER recessions shadedRecession 1973–75Recession 1980Recession 1981–82Recession 1990–91Recession 2001Recession 2007–09Recession 2020020040060080019801990200020102020United States2026: 722
Maryland (100 = first year)United States, rebased to the same startNBER recession

FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. The line is FHFA's standard quarterly all-transactions index; the comparison table uses FHFA's annual state index from the same family. The index does not give a dollar value for any home.

Maryland's FHFA house price index starts in 1975. Through 2025 it has risen +902.2%; over the ten years to 2025 the rise was +59.8% (+4.8% a year), well below the national +85.0%.

The quarterly index through 2026 Q2 is +2.2% on a year earlier and +0.3% on the quarter; nationally +3.0% and +1.1%.

The index peaked in 2007, fell −25.7% to 2012 and regained the peak in 2021; the national index fell −21.3% over 2007–2012.

13,400 housing units were authorised in Maryland in the 12 months to August 2026, 2.1 per 1,000 residents against 4.1 nationally; that is −8.3% on the previous 12 months. 24 counties, 10 metro and micro areas, 371 ZIP codes and 47 permit-issuing places in the state have their own pages.

+2.2%year to 2026 Q2, quarterly indexUS +3.0%
+2.7%1 year, 2024–2025US +2.8%
+39.5%5 yearsUS +47.0%
+59.8%10 years+4.8% a year annualised
+168.0%since 2000US +158.3%
13,400units permitted, 12 months2.1 per 1,000 residents · US 4.1

Same span, state and nation

Change in the FHFA indexMarylandUnited States
1 year (2024–2025)+2.7%+2.8%
5 years (2020–2025)+39.5%+47.0%
10 years (2015–2025)+59.8%+85.0%
20 years (2005–2025)+45.8%+79.1%
Since 2000+168.0%+158.3%
Since 1975+902.2%+960.7%
10-year annualised+4.8%+6.3%
20-year annualised+1.9%+3.0%

Decade by decade

DecadeChangeUnited States
1980s (1980–1990)+92.2%+68.2%
1990s (1990–2000)+18.2%+33.9%
2000s (2000–2010)+65.8%+29.7%
2010s (2010–2020)+15.8%+35.5%
2020s so far (2020–2025)+39.5%+47.0%

FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1975 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1975 are not shown.

Peak-to-low declines

PeakLowDeclinePeak regained
20072012−25.7%2021

Purchase-only index

FHFA also publishes a purchase-only index, built from sales prices alone (no refinance appraisals). It starts in 1991 and is drawn here on its own base.

FHFA purchase-only house price index for Maryland, quarterly, with the national purchase-only index rebased to the same startRecession 1990–91Recession 2001Recession 2007–09Recession 202001002003004005001995200020052010201520202025United States, purchase-only2026: 376
Maryland, purchase-only (100 = first year)United States, purchase-only, rebased to the same startNBER recession

Counties

Ranked by ten-year change in FHFA's annual county index to 2025. Permits are housing units authorised in the 12 months to August 2026.

County1 year10 yearsSince 2000Units, 12 monthsPer 1,000Index through
Worcester County+2.6%+95.3%+209.3%2113.92025
Wicomico County+5.7%+91.5%+159.0%2252.12025
Dorchester County+2.8%+88.2%+147.1%932.82025
Kent County+4.9%+87.0%+168.9%432.22025
Caroline County+3.9%+82.4%+151.1%742.22025
Garrett County+2.4%+82.2%+182.5%1445.12025
Washington County+3.3%+78.3%+144.7%1921.22025
Prince George's County+2.8%+76.6%+192.9%1,7681.82025
Cecil County+6.4%+76.3%+154.0%1561.52025
Somerset County+7.6%+70.2%+135.6%271.12025
Frederick County+0.9%+68.1%+168.1%1,0743.52025
Charles County+1.6%+65.0%+149.3%5613.22025
Harford County+3.7%+64.6%+161.7%8583.22025
Queen Anne's County−0.1%+64.5%+157.2%2214.12025
Talbot County+3.1%+63.6%+152.9%1614.22025
Carroll County+1.7%+60.6%+159.3%2001.12025
St. Mary's County+6.1%+60.3%+151.9%2011.72025
Allegany County+3.3%+59.7%+116.5%320.52025
Anne Arundel County+3.4%+59.4%+184.3%1,5852.62025
Baltimore County+2.9%+58.4%+158.8%1,5831.92025
Calvert County+4.0%+55.9%+148.4%1151.22025
Howard County+2.0%+52.7%+178.0%2670.82025
Montgomery County+1.3%+50.4%+185.3%2,8362.62025
Baltimore city+2.6%+47.1%+173.7%7731.42025

Metro and micropolitan areas

Areas with any county in Maryland; multi-state areas appear under each of their states.

AreaType1 year10 yearsYear to 2026 Q2Units, 12 months
Ocean Pines, MDMicro+2.6%+95.3%—211
Cambridge, MDMicro+2.8%+88.2%—93
Salisbury, MDMetro+6.3%+88.1%+3.4%252
Hagerstown-Martinsburg, MD-WVMetro+4.8%+81.4%+0.9%1,555
Philadelphia-Camden-Wilmington, PA-NJ-DE-MDMetro+4.7%+79.6%—14,628
Easton, MDMicro+3.1%+63.6%—161
Cumberland, MD-WVMicro+2.4%+58.8%—85
Washington-Arlington-Alexandria, DC-VA-MD-WVMetro+2.1%+58.0%—21,783
Lexington Park, MDMetro+4.8%+57.8%+0.4%316
Baltimore-Columbia-Towson, MDMetro+2.7%+55.9%+2.7%5,487

Building permits

Housing units authorised in Maryland by month, latest 60 months01,0002,0003,000Sep 2021: 1,789 units (906 single-family, 883 in multi-unit buildings)Sep 2021Oct 2021: 1,224 units (928 single-family, 296 in multi-unit buildings)Nov 2021: 1,071 units (773 single-family, 298 in multi-unit buildings)Dec 2021: 1,189 units (913 single-family, 276 in multi-unit buildings)Jan 2022: 2,062 units (892 single-family, 1,170 in multi-unit buildings)Feb 2022: 1,667 units (892 single-family, 775 in multi-unit buildings)Mar 2022: 2,191 units (1,118 single-family, 1,073 in multi-unit buildings)Apr 2022: 2,054 units (947 single-family, 1,107 in multi-unit buildings)May 2022: 1,517 units (1,008 single-family, 509 in multi-unit buildings)Jun 2022: 2,027 units (889 single-family, 1,138 in multi-unit buildings)Jul 2022: 1,981 units (577 single-family, 1,404 in multi-unit buildings)Aug 2022: 1,125 units (691 single-family, 434 in multi-unit buildings)Sep 2022: 1,653 units (683 single-family, 970 in multi-unit buildings)Sep 2022Oct 2022: 924 units (680 single-family, 244 in multi-unit buildings)Nov 2022: 1,102 units (656 single-family, 446 in multi-unit buildings)Dec 2022: 1,297 units (593 single-family, 704 in multi-unit buildings)Jan 2023: 1,502 units (706 single-family, 796 in multi-unit buildings)Feb 2023: 1,351 units (749 single-family, 602 in multi-unit buildings)Mar 2023: 1,035 units (871 single-family, 164 in multi-unit buildings)Apr 2023: 1,230 units (837 single-family, 393 in multi-unit buildings)May 2023: 1,744 units (985 single-family, 759 in multi-unit buildings)Jun 2023: 1,210 units (1,074 single-family, 136 in multi-unit buildings)Jul 2023: 1,339 units (644 single-family, 695 in multi-unit buildings)Aug 2023: 1,575 units (1,006 single-family, 569 in multi-unit buildings)Sep 2023: 951 units (784 single-family, 167 in multi-unit buildings)Sep 2023Oct 2023: 1,573 units (820 single-family, 753 in multi-unit buildings)Nov 2023: 1,288 units (718 single-family, 570 in multi-unit buildings)Dec 2023: 1,320 units (719 single-family, 601 in multi-unit buildings)Jan 2024: 1,007 units (879 single-family, 128 in multi-unit buildings)Feb 2024: 1,415 units (875 single-family, 540 in multi-unit buildings)Mar 2024: 1,662 units (1,140 single-family, 522 in multi-unit buildings)Apr 2024: 2,201 units (1,046 single-family, 1,155 in multi-unit buildings)May 2024: 1,615 units (862 single-family, 753 in multi-unit buildings)Jun 2024: 1,371 units (966 single-family, 405 in multi-unit buildings)Jul 2024: 1,345 units (809 single-family, 536 in multi-unit buildings)Aug 2024: 1,444 units (775 single-family, 669 in multi-unit buildings)Sep 2024: 1,294 units (645 single-family, 649 in multi-unit buildings)Sep 2024Oct 2024: 1,284 units (895 single-family, 389 in multi-unit buildings)Nov 2024: 936 units (766 single-family, 170 in multi-unit buildings)Dec 2024: 1,123 units (712 single-family, 411 in multi-unit buildings)Jan 2025: 1,408 units (896 single-family, 512 in multi-unit buildings)Feb 2025: 1,456 units (1,010 single-family, 446 in multi-unit buildings)Mar 2025: 1,007 units (868 single-family, 139 in multi-unit buildings)Apr 2025: 1,253 units (915 single-family, 338 in multi-unit buildings)May 2025: 1,755 units (922 single-family, 833 in multi-unit buildings)Jun 2025: 1,027 units (913 single-family, 114 in multi-unit buildings)Jul 2025: 1,173 units (876 single-family, 297 in multi-unit buildings)Aug 2025: 902 units (748 single-family, 154 in multi-unit buildings)Sep 2025: 716 units (640 single-family, 76 in multi-unit buildings)Sep 2025Oct 2025: 950 units (625 single-family, 325 in multi-unit buildings)Nov 2025: 1,487 units (623 single-family, 864 in multi-unit buildings)Dec 2025: 631 units (512 single-family, 119 in multi-unit buildings)Jan 2026: 1,484 units (554 single-family, 930 in multi-unit buildings)Feb 2026: 1,182 units (699 single-family, 483 in multi-unit buildings)Mar 2026: 1,150 units (821 single-family, 329 in multi-unit buildings)Apr 2026: 1,772 units (864 single-family, 908 in multi-unit buildings)May 2026: 994 units (843 single-family, 151 in multi-unit buildings)Jun 2026: 1,028 units (865 single-family, 163 in multi-unit buildings)Jul 2026: 1,039 units (734 single-family, 305 in multi-unit buildings)Aug 2026: 967 units (571 single-family, 396 in multi-unit buildings)

Housing units authorised in Maryland by month, latest 60 monthssingle-family2+ unit buildings

Housing units authorised in Maryland by year, 1995–2025020,00040,0001995: 26,576 units (23,194 single-family, 3,382 in multi-unit buildings)19951996: 25,108 units (22,594 single-family, 2,514 in multi-unit buildings)1997: 25,966 units (21,063 single-family, 4,903 in multi-unit buildings)1998: 30,863 units (23,812 single-family, 7,051 in multi-unit buildings)1999: 29,757 units (24,167 single-family, 5,590 in multi-unit buildings)2000: 30,358 units (25,132 single-family, 5,226 in multi-unit buildings)20002001: 29,059 units (23,708 single-family, 5,351 in multi-unit buildings)2002: 29,293 units (24,004 single-family, 5,289 in multi-unit buildings)2003: 29,914 units (23,398 single-family, 6,516 in multi-unit buildings)2004: 27,382 units (21,553 single-family, 5,829 in multi-unit buildings)2005: 30,180 units (22,909 single-family, 7,271 in multi-unit buildings)20052006: 23,262 units (17,858 single-family, 5,404 in multi-unit buildings)2007: 18,582 units (13,232 single-family, 5,350 in multi-unit buildings)2008: 13,018 units (8,927 single-family, 4,091 in multi-unit buildings)2009: 11,123 units (8,133 single-family, 2,990 in multi-unit buildings)2010: 11,931 units (8,489 single-family, 3,442 in multi-unit buildings)20102011: 13,481 units (8,362 single-family, 5,119 in multi-unit buildings)2012: 15,217 units (9,232 single-family, 5,985 in multi-unit buildings)2013: 17,918 units (10,667 single-family, 7,251 in multi-unit buildings)2014: 16,331 units (10,541 single-family, 5,790 in multi-unit buildings)2015: 17,057 units (11,108 single-family, 5,949 in multi-unit buildings)20152016: 17,044 units (11,059 single-family, 5,985 in multi-unit buildings)2017: 16,224 units (12,384 single-family, 3,840 in multi-unit buildings)2018: 18,647 units (12,975 single-family, 5,672 in multi-unit buildings)2019: 18,491 units (12,053 single-family, 6,438 in multi-unit buildings)2020: 17,982 units (12,993 single-family, 4,989 in multi-unit buildings)20202021: 18,496 units (12,520 single-family, 5,976 in multi-unit buildings)2022: 22,860 units (10,117 single-family, 12,743 in multi-unit buildings)2023: 18,453 units (10,490 single-family, 7,963 in multi-unit buildings)2024: 16,823 units (10,885 single-family, 5,938 in multi-unit buildings)2025: 13,358 units (9,345 single-family, 4,013 in multi-unit buildings)2025

Housing units authorised in Maryland by year, 1995–2025single-family2+ unit buildings

Single-family share of the latest 12 months: 62% (63% nationally). Since 1995: 650,754 units.

Year by year

Each year's index change and permits, with every county's figures for that year.

YearMaryland indexUS indexUnits permittedSingle-family
2025+2.7%+2.8%13,3589,345
2024+5.3%+4.9%16,82310,885
2023+5.7%+5.7%18,45310,490
2022+11.5%+15.5%22,86010,117
2021+9.5%+11.6%18,49612,520
2020+2.6%+3.0%17,98212,993
2019+2.8%+4.2%18,49112,053
2018+2.9%+5.7%18,64712,975
2017+2.9%+5.4%16,22412,384
2016+2.6%+5.3%17,04411,059
2015+2.2%+4.4%17,05711,108
2014+3.3%+6.2%16,33110,541
2013+1.6%+3.4%17,91810,667
2012−1.7%−1.8%15,2179,232
2011−4.1%−4.4%13,4818,362
2010−5.3%−5.1%11,9318,489
2009−11.1%−7.5%11,1238,133
2008−6.3%−4.5%13,0188,927
2007+1.6%+0.6%18,58213,232
2006+12.6%+6.6%23,26217,858
2005+22.7%+12.4%30,18022,909
2004+17.4%+9.2%27,38221,553
2003+7.8%+4.5%29,91423,398
2002+9.7%+5.4%29,29324,004
2001+7.9%+6.7%29,05923,708
2000+6.7%+8.3%30,35825,132
1999+2.8%+4.3%29,75724,167
1998+2.1%+3.7%30,86323,812
1997+0.8%+3.8%25,96621,063
1996+1.5%+3.2%25,10822,594
1995+0.4%+3.7%26,57623,194

Cities issuing the most permits

Housing units authorised in the 12 months to August 2026; every place is listed on its county page.

Questions and answers

How much have home values in Maryland risen over 10 years?

The FHFA index rose +59.8% between 2015 and 2025, +4.8% a year; over 20 years +45.8% and since 2000 +168.0%. Nationally: +85.0%, +79.1% and +158.3%.

Which Maryland counties rose most over 10 years?

Worcester County (+95.3%), Wicomico County (+91.5%) and Dorchester County (+88.2%), by FHFA's annual county index to 2025.

What happened to Maryland home prices in 2008?

The state index peaked in 2007, fell −25.7% to 2012 and regained its peak in 2021.

How many homes are being built in Maryland?

13,400 units were authorised in the 12 months to August 2026: 8,351 single-family and 5,049 in multi-unit buildings, 2.1 per 1,000 residents.

Where does this data come from?

FHFA's quarterly all-transactions state index (through 2026 Q2) and annual state index (updated March 31, 2026); the Census Bureau's Building Permits Survey state and county files through August 2026; vintage 2025 population estimates.

Provenance

Index: Federal Housing Finance Agency, quarterly all-transactions and purchase-only state indexes through 2026 Q2 and annual state index (updated March 31, 2026). Permits: Census Bureau Building Permits Survey state, county and place files through August 2026. Population: Census Bureau vintage 2025 estimates. Public domain. Corrections · FHFA HPI datasets.