Silver Spring, MD—20902
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Silver Spring, MD
As of Oct '25, the median home price in Silver Spring, MD is $531,000, with a year-over-year change of 0.2%. This indicates that home prices in Silver Spring, MD are flat. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $531,000 | 0.2% |
| Single Family | $551,000 | -0.4% |
| Condos | $222,000 | -3.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $174,000 | -3.9% |
2 Bed | $322,000 | -2.1% |
3 Bed | $536,000 | -0.9% |
4 Bed | $609,000 | -1.1% |
| 5 Bed | $668,000 | -0.9% |
% of Housing Stock
Rental Trends — Silver Spring, MD
As of July '25, Rentcast reports the average rent in Silver Spring, MD is $2,670, with a year-over-year rent change of 12.7%. Per bedroom, the median rent as of July '25 in Silver Spring, MD is studios: $1,630, 1-bedrooms: $1,670, 2-bedrooms: $2,160, 3-bedrooms: $3,080, 4-bedrooms: $3,330. The most common rental property sizes in Silver Spring, MD are 1-bedroom and 2-bedroom, accounting for 29.5% and 28.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,950 | $2,670 |
| Studio Rent | $1,680 | $1,630 |
| 1 Bed Rent | $1,580 | $1,670 |
| 2 Bed Rent | $2,000 | $2,160 |
| 3 Bed Rent | $3,110 | $3,080 |
| 4 Bed Rent | $3,250 | $3,330 |
% of Rental Stock
Property Listings — Silver Spring, MD
As of Oct '25, Realtor.com reports that the median days on market for a home in Silver Spring, MD is 35. This is a increase of 25.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $560,000 | 1.0% |
Listing Count | 103 | 19.0% |
| Listings as % of Homes | 0.2% | 19.0% |
Days on Market | 35 | 25.0% |
Demographics — Silver Spring, MD
As of the latest ACS Survey released in 2023, Silver Spring, MD has a population of 53,200, which has increased by 1.3% over the past 5 years. Silver Spring, MD is a popular place for families, as children make up 25.3% of the population. The area has a highly educated workforce, with 47.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 53,200 | 1.3% |
% Under 18 | 25.3% | -0.4% |
% Seniors | 13.6% | 8.8% |
% WFH | 21.0% | 320.0% |
% w/ College Degree | 47.3% | 2.2% |
As of the latest ACS Survey released in 2023, Silver Spring, MD is a predominantly hispanic area, with 38.5% of the population identifying as hispanic. The hispanic population has grown by 6.4% in the last 5 years. The second most common race or ethnicity in Silver Spring, MD is white, making up 32.0% of the population. Foreign-born residents account for 37.1% of the population in Silver Spring, MD, and this percentage has decreased by 0.8% 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 | 32.0% | -6.2% |
% Black | 18.5% | 9.5% |
% Hispanic | 38.5% | 6.4% |
% Asian | 7.6% | -20.0% |
% Foreign Born | 37.1% | -0.8% |
Mortgage and Risk — Silver Spring, MD
According to HUD data as of 2023, there were 456 mortgage originations in Silver Spring, MD, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Silver Spring, MD. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 456 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Silver Spring, MD
As of 2024, the percent of homes in Silver Spring, MD under the Section 8 program is 10.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Silver Spring, MD, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 697 |
Total Units Section 8 | 673 |
% Rentals under Section 8 | 10.9% |
% Occupied Section 8 | 93.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $620 | $1,580 | $2,200 |
| 2 Bedroom | $480 | $2,000 | $2,480 |
| 3 Bedroom | -$10 | $3,110 | $3,100 |
| 4 Bedroom | $410 | $3,250 | $3,660 |
Affordability — Silver Spring, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $531,000 |
| Median Household Income | $111,000 |