Great Mills, MD—20634
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Great Mills, MD
As of Oct '25, the median home price in Great Mills, MD is $361,000, with a year-over-year change of 2.6%. This indicates that home prices in Great Mills, MD are increasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $361,000 | 2.6% |
| Single Family | $369,000 | 2.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $239,000 | -0.4% |
3 Bed | $326,000 | 2.2% |
4 Bed | $433,000 | 2.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Great Mills, MD
As of July '25, Rentcast reports the average rent in Great Mills, MD is $2,290, with a year-over-year rent change of 23.8%. Per bedroom, the median rent as of July '25 in Great Mills, MD is studios: $1,200, 2-bedrooms: $1,960, 3-bedrooms: $2,330, 4-bedrooms: $2,650. The most common rental property sizes in Great Mills, MD are 2-bedroom and 3-bedroom, accounting for 50.0% and 35.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,290 |
| Studio Rent | $1,200 | $1,200 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,800 | $1,960 |
| 3 Bed Rent | $2,300 | $2,330 |
| 4 Bed Rent | $2,600 | $2,650 |
% of Rental Stock
Property Listings — Great Mills, MD
As of Oct '25, Realtor.com reports that the median days on market for a home in Great Mills, MD is 31. This is a increase of 12.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $266,000 | -25.0% |
Listing Count | 16 | -29.0% |
| Listings as % of Homes | 0.6% | -29.0% |
Days on Market | 31 | 12.0% |
Demographics — Great Mills, MD
As of the latest ACS Survey released in 2023, Great Mills, MD has a population of 6,980, which has decreased by -4.9% over the past 5 years. Great Mills, MD is a popular place for families, as children make up 26.7% of the population. The area has a moderately educated workforce, with 40.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,980 | -4.9% |
% Under 18 | 26.7% | 6.8% |
% Seniors | 8.1% | 11.0% |
% WFH | 14.9% | 292.1% |
% w/ College Degree | 40.6% | 23.0% |
As of the latest ACS Survey released in 2023, Great Mills, MD is a predominantly white area, with 56.7% of the population identifying as white. The white population has shrunk by 11.7% in the last 5 years. The second most common race or ethnicity in Great Mills, MD is black, making up 30.6% of the population. Foreign-born residents account for 5.9% of the population in Great Mills, MD, and this percentage has increased by 68.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 56.7% | -11.7% |
% Black | 30.6% | 11.3% |
% Hispanic | 4.7% | 62.1% |
% Asian | 2.5% | -21.9% |
% Foreign Born | 5.9% | 68.6% |
Mortgage and Risk — Great Mills, MD
According to HUD data as of 2023, there were 185 mortgage originations in Great Mills, MD, of which 47.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Great Mills, MD. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 185 |
% Conventional Loans | 47.0% |
% Government Loans | 53.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Great Mills, MD
Great Mills, MD lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 170 |
Total Units Section 8 | 170 |
% Rentals under Section 8 | 20.5% |
% Occupied Section 8 | 71.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,480 |
| 2 Bedroom | -$130 | $1,800 | $1,670 |
| 3 Bedroom | -$220 | $2,300 | $2,080 |
| 4 Bedroom | -$30 | $2,600 | $2,570 |
Affordability — Great Mills, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $361,000 |
| Median Household Income | $117,000 |