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These days, finding an affordable place to live in the Takoma Park area can be challenging. Home prices in Takoma Park are now at a median cost of $510,589, higher than the Maryland average of $357,815.
The average cost of rent is $1,320/mo in Takoma Park, primarily driven by the current value of real estate in the Takoma Park area. While nearly 26.44% of residents own their homes outright in Takoma Park, 52.64% rent.
Housing affordability isn’t just about home prices, though. The average household income in Takoma Park is $6,514 per month. Households that rent pay about 20.27% of their income on rent here. Takoma Park's most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Chillum, MD: less expensive homes
- Adelphi, MD: less expensive homes
- Silver Spring, MD: less expensive homes
- Four Corners, MD: equally priced homes
- Hyattsville, MD: less expensive homes
- University Park, MD: equally priced homes
- Mount Rainier, MD: less expensive homes
- Brentwood, MD: less expensive homes
- Martins Additions, MD: higher priced homes
- North Brentwood, MD: less expensive homes
Cities with Similar Populations
- West Melbourne, FL: less expensive homes
- Cave Spring, VA: less expensive homes
- Centereach, NY: less expensive homes
- Central Point, OR: less expensive homes
- Chaska, MN: less expensive homes
- Chatsworth, GA: less expensive homes
- Chicago Heights, IL: less expensive homes
- Wailuku, HI: higher priced homes
- Walker, MI: less expensive homes
- Waynesboro, PA: less expensive homes
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