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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 $225,595, lower than the North Carolina average of $323,314.
The average cost of rent is $1,529/mo in Silver Spring, primarily driven by the current value of real estate in the Silver Spring area. In Silver Spring, 10.29% of households rent, and 43.63% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Silver Spring is $7,103 per month. Households that rent pay about 21.53% of their income on rent here. Silver Spring’s most expensive areas are in the eastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Addor, NC: higher priced homes
- Pinebluff, NC: equally priced homes
- Ashley Heights, NC: higher priced homes
- Aberdeen, NC: higher priced homes
- Hoffman, NC: less expensive homes
- Southern Pines, NC: higher priced homes
- Montrose, NC: equally priced homes
- Pinehurst, NC: higher priced homes
- Foxfire, NC: higher priced homes
- Marston, NC: equally priced homes
Cities with Similar Populations
- Ouzinkie, AK: higher priced homes
- Prairie City, IL: less expensive homes
- Powellton, WV: less expensive homes
- Poe, IN: less expensive homes
- Plymouth, UT: higher priced homes
- Plattenville, LA: less expensive homes
- Plainfield, OH: less expensive homes
- Pine Village, IN: less expensive homes
- Petrolia, KS: less expensive homes
- Petersburgh, OH: equally priced homes
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