Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Silver Spring area can be challenging. Home prices in Silver Spring are now at a median cost of $459,209, higher than the Maryland average of $357,815.
The average cost of rent is $1,774/mo in Silver Spring, primarily driven by the current value of real estate in the Silver Spring area. While nearly 31.07% of residents own their homes outright in Silver Spring, 47.83% rent.
Housing affordability isn’t just about home prices, though. The average household income in Silver Spring is $8,764 per month. Households that rent pay about 20.24% of their income on rent here. Silver Spring's most expensive areas are in the western regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Four Corners, MD: higher priced homes
- Kemp Mill, MD: equally priced homes
- White Oak, MD: equally priced homes
- Takoma Park, MD: higher priced homes
- Adelphi, MD: less expensive homes
- Wheaton, MD: less expensive homes
- North Chevy Chase, MD: higher priced homes
- South Kensington, MD: higher priced homes
- Chevy Chase View, MD: higher priced homes
- Kensington, MD: higher priced homes
Cities with Similar Populations
- St. Joseph, MO: less expensive homes
- Spring, TX: less expensive homes
- Stamford, CT: higher priced homes
- Springfield, IL: less expensive homes
- Spokane, WA: less expensive homes
- Spring Valley, NV: less expensive homes
- Spokane Valley, WA: less expensive homes
- Southfield, MI: less expensive homes
- Spring Hill, FL: less expensive homes
- Statesville, NC: less expensive homes
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