Residential Housing
The City of Rockville is a much sought after location to live and raise a family. Below is information on the residential real estate market.
Rockville Housing Market
- Average Listing Price … $620,324
- Average List Price, 1 bedroom … $322,427
- Average List Price, 2 bedrooms … $376,346
- Average List Price, 3 bedrooms … $524,733
- Average List Price, 4 bedrooms … $640,324
- Median Sales Price … $425,000
Source: trulia.com, week ending 6/26/13
Housing Cost and Availability
| Starter | Starter/ Upgrade | Mid-Level | Executive | Number of Homes on Market | Time on Market |
|---|---|---|---|---|---|
| $115,0000 – $250,000 | $195,000 – $325,000 | $300,000 – $550,000 | $550,000 – $1,250,000 | 91 | 1 – 265 days; average days for properties sold is 14 |
| 1-3 bedrooms, 1-3 baths, condo, townhouse, single family | 2-3 bedrooms, 2-3 baths, condo, townhouse, single family | 2-4 bedrooms, 2-4 baths, condo, townhouse, single family | 3 to 5+ bedrooms, 4+ baths, single family |
Source: Hillstrom Real Estate Services (MLS Listings), July 2013
Rental Housing Costs
| Single Family Homes | Townhomes | Apartments |
|---|---|---|
| $1250-1550 (1 bedroom, 1 bath) | $1200 to $2500 (1-2 bedrooms, 2 baths) | $1250 – $1850 (1 bedroom, 1 bath) |
| $1,500 to $2,800 (3 – 5 bedrooms, 2 baths) | $2000 to $3500 (3-4 bedrooms, 3-4 baths) | $1400 – $2600 (2-3 bedrooms, 1-2 baths) |
| $2,500 – $4,800 (4-5 bedrooms, 3+ baths) |
Source: Hillstrom Real Estate Services (MLS Listings), July 2013
Cost of Living
This index compares the relative cost of living in different locations. Using the United States as the base location (i.e. a value of 100), an index value of 120 means that the cost of living in that particular community is 20 percent higher than in the base location; a value of 94 indicates a more affordable location.
| Location | Cost of Living Index |
|---|---|
| Washington, DC | 143 |
| Chicago, IL | 107 |
| Boston, MA | 149 |
| New York, NY | 169 |
| Raleigh, NC | 102 |
| San Diego, CA | 143 |
| Rockville, MD | 151 |
Source: Sperling’s Best Places (www.bestplaces.net), July 2013; the total of all cost of living categories is weighted as follows: 30% housing, 15% groceries, 10% transportation, 6% utilities, 7% health care, and 32% miscellaneous (clothing, services, entertainment); state and local taxes are not included.