Real Estate Relocation Guide To Maryland

Relocating from Chicago to Maryland is a major move. You’re crossing state lines and heading 700 miles to find a new home in a different community. By familiarizing yourself with the local real estate market, whether your destination is Baltimore or Silver Spring you can get a good idea of the Maryland landscape and locate the best area for you and your family.

We’ll start with the big picture… Maryland has an estimated population of 5.6 million* and around 9,700 square miles of land. The total number of housing units is 2,300,749, of which about 1.4 million are owner-occupied and 638,600 are inhabited by renters. Roughly 211,700, or 9 percent, of the residences in the state are vacant. The median home value in Maryland is $334,700 and the median household income is $65,144. For an idea of how this sizes up with national averages – the median home value in the U.S. is $185,200 and the median household income is $48,451.

Statewide figures provide a good overview of Maryland, but when you’re planning to relocate to the region, knowing what types of housing are available is the most important thing. So here’s a breakdown of what Maryland real estate has to offer…

About 30,000 homes in Maryland are new construction, developed in 2005 or after (another 170,000 were put up between 2000 and 2004). Maryland has its share of vintage charm as well with 270,000 residences built prior to 1940. The total number of detached, single-family houses across the state is 1.1 million, and there’s also a good selection of multi-unit residences and condos. Most homes have 3 bedrooms, but size varies greatly depending on where you look. And, in case you’re wondering about how your budget will pan out in The Old Line State, monthly mortgage costs in [Alabama] generally hover between $700 and 2,000+.

Relocation Resources

Columbia Real Estate, Ellicott City Real Estate, Howard County Real Estate, Judi Stull
Specializing in Columbia, Maryland Real Estate, Ellicott City Real Estate, Sykesville Real Estate, Eldersburg Real Estate, Glenelg Real Estate and more.

*All statistics are from the 2006 American Community Survey as shown on the U.S. Census Bureau website.
Sources: factfinder.census.gov and www.city-data.com