Cheltenham, MD—20623
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cheltenham, MD
As of Oct '25, the median home price in Cheltenham, MD is $512,000, with a year-over-year change of -0.1%. This indicates that home prices in Cheltenham, MD are flat. According to Zillow, the 1-year price projection is -0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $512,000 | -0.1% |
| Single Family | $511,000 | -0.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $414,000 | -0.2% |
4 Bed | $532,000 | -0.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cheltenham, MD
As of July '25, Rentcast reports the average rent in Cheltenham, MD is $2,580, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in Cheltenham, MD is 1-bedrooms: $850, 4-bedrooms: $4,300. The most common rental property sizes in Cheltenham, MD are 4-bedroom and studio, accounting for 100.0% and 0.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $850 | $2,580 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $850 | $850 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $4,300 | $4,300 |
% of Rental Stock
Property Listings — Cheltenham, MD
As of Oct '25, Realtor.com reports that the median days on market for a home in Cheltenham, MD is 167. This is a increase of 322.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 57.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $460,000 | -8.0% |
Listing Count | 7 | 233.0% |
| Listings as % of Homes | 0.6% | 233.0% |
Days on Market | 167 | 322.0% |
Demographics — Cheltenham, MD
As of the latest ACS Survey released in 2023, Cheltenham, MD has a population of 2,850, which has decreased by -3.0% over the past 5 years. Cheltenham, MD is a moderately popular place for families, as children make up 15.9% of the population. The area has a moderately educated workforce, with 36.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,850 | -3.0% |
% Under 18 | 15.9% | -30.9% |
% Seniors | 26.5% | 248.7% |
% WFH | 15.0% | 383.9% |
% w/ College Degree | 36.5% | -3.4% |
As of the latest ACS Survey released in 2023, Cheltenham, MD is a predominantly black area, with 78.7% of the population identifying as black. The black population has grown by 1.3% in the last 5 years. The second most common race or ethnicity in Cheltenham, MD is white, making up 6.7% of the population. Foreign-born residents account for 1.7% of the population in Cheltenham, MD, and this percentage has decreased by 73.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 6.7% | -49.6% |
% Black | 78.7% | 1.3% |
% Hispanic | 3.1% | 3.3% |
% Asian | 1.9% | -55.8% |
% Foreign Born | 1.7% | -73.4% |
Mortgage and Risk — Cheltenham, MD
According to HUD data as of 2023, there were 133 mortgage originations in Cheltenham, MD, of which 57.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Cheltenham, MD. Investor activity is low, as 2.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 133 |
% Conventional Loans | 57.0% |
% Government Loans | 43.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Cheltenham, MD
Cheltenham, MD lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 20 |
Total Units Section 8 | 20 |
% Rentals under Section 8 | 114.3% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,370 | $850 | $2,220 |
| 2 Bedroom | N/A | N/A | $2,500 |
| 3 Bedroom | N/A | N/A | $3,120 |
| 4 Bedroom | -$610 | $4,300 | $3,690 |
Affordability — Cheltenham, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $512,000 |
| Median Household Income | $132,000 |