Leonardtown, MD—20650
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Leonardtown, MD
As of Oct '25, the median home price in Leonardtown, MD is $521,000, with a year-over-year change of 2.8%. This indicates that home prices in Leonardtown, MD are increasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $521,000 | 2.8% |
| Single Family | $523,000 | 2.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $322,000 | 3.2% |
3 Bed | $438,000 | 2.6% |
4 Bed | $579,000 | 1.6% |
| 5 Bed | $651,000 | 0.2% |
% of Housing Stock
Rental Trends — Leonardtown, MD
As of July '25, Rentcast reports the average rent in Leonardtown, MD is $2,380, with a year-over-year rent change of 5.8%. Per bedroom, the median rent as of July '25 in Leonardtown, MD is 1-bedrooms: $1,400, 2-bedrooms: $1,930, 3-bedrooms: $2,320, 4-bedrooms: $3,180. The most common rental property sizes in Leonardtown, MD are 2-bedroom and 3-bedroom, accounting for 34.1% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,380 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,400 |
| 2 Bed Rent | $1,950 | $1,930 |
| 3 Bed Rent | $2,400 | $2,320 |
| 4 Bed Rent | $3,200 | $3,180 |
% of Rental Stock
Property Listings — Leonardtown, MD
As of Oct '25, Realtor.com reports that the median days on market for a home in Leonardtown, MD is 34. This is a decrease of -28.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $592,000 | -2.0% |
Listing Count | 66 | 52.0% |
| Listings as % of Homes | 0.9% | 52.0% |
Days on Market | 34 | -28.0% |
Demographics — Leonardtown, MD
As of the latest ACS Survey released in 2023, Leonardtown, MD has a population of 16,000, which has increased by 13.4% over the past 5 years. Leonardtown, MD is a popular place for families, as children make up 26.4% of the population. The area has a moderately educated workforce, with 41.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,000 | 13.4% |
% Under 18 | 26.4% | 3.9% |
% Seniors | 11.6% | -26.6% |
% WFH | 15.7% | 324.3% |
% w/ College Degree | 41.6% | 6.4% |
As of the latest ACS Survey released in 2023, Leonardtown, MD is a predominantly white area, with 76.6% of the population identifying as white. The white population has shrunk by 7.5% in the last 5 years. The second most common race or ethnicity in Leonardtown, MD is hispanic, making up 6.8% of the population. Foreign-born residents account for 5.1% of the population in Leonardtown, MD, and this percentage has increased by 8.5% 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 | 76.6% | -7.5% |
% Black | 6.4% | -22.0% |
% Hispanic | 6.8% | 183.3% |
% Asian | 2.5% | -32.4% |
% Foreign Born | 5.1% | 8.5% |
Mortgage and Risk — Leonardtown, MD
According to HUD data as of 2023, there were 368 mortgage originations in Leonardtown, MD, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Leonardtown, MD. Investor activity is low, as 2.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 368 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Leonardtown, MD
As of 2024, the percent of homes in Leonardtown, MD under the Section 8 program is 22.4%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Leonardtown, MD, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 300 |
Total Units Section 8 | 300 |
% Rentals under Section 8 | 22.4% |
% Occupied Section 8 | 86.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $1,400 | $1,600 |
| 2 Bedroom | -$150 | $1,950 | $1,800 |
| 3 Bedroom | -$150 | $2,400 | $2,250 |
| 4 Bedroom | -$430 | $3,200 | $2,770 |
Affordability — Leonardtown, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $521,000 |
| Median Household Income | $140,000 |