Silver Spring, MD—20903
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 $510,000, with a year-over-year change of 0.5%. 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 | $510,000 | 0.5% |
| Single Family | $524,000 | -0.4% |
| Condos | $159,000 | -4.2% |
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 | $470,000 | -0.8% |
4 Bed | $584,000 | -0.2% |
| 5 Bed | $613,000 | -0.8% |
% of Housing Stock
Rental Trends — Silver Spring, MD
As of July '25, Rentcast reports the average rent in Silver Spring, MD is $2,340, with a year-over-year rent change of 32.2%. Per bedroom, the median rent as of July '25 in Silver Spring, MD is 1-bedrooms: $1,520, 2-bedrooms: $2,100, 3-bedrooms: $2,530, 4-bedrooms: $3,480. The most common rental property sizes in Silver Spring, MD are 2-bedroom and 1-bedroom, accounting for 46.5% and 25.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,340 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,500 | $1,520 |
| 2 Bed Rent | $2,100 | $2,100 |
| 3 Bed Rent | $2,400 | $2,530 |
| 4 Bed Rent | $3,100 | $3,480 |
% 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 37. This is a decrease of -15.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $615,000 | 9.0% |
Listing Count | 23 | 25.0% |
| Listings as % of Homes | 0.2% | 25.0% |
Days on Market | 37 | -15.0% |
Demographics — Silver Spring, MD
As of the latest ACS Survey released in 2023, Silver Spring, MD has a population of 25,500, which has decreased by -2.5% over the past 5 years. Silver Spring, MD is a popular place for families, as children make up 29.8% of the population. The area has a moderately educated workforce, with 26.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,500 | -2.5% |
% Under 18 | 29.8% | 8.4% |
% Seniors | 11.5% | 15.0% |
% WFH | 8.2% | 215.4% |
% w/ College Degree | 26.4% | -1.1% |
As of the latest ACS Survey released in 2023, Silver Spring, MD is a predominantly hispanic area, with 53.1% of the population identifying as hispanic. The hispanic population has grown by 10.9% in the last 5 years. The second most common race or ethnicity in Silver Spring, MD is black, making up 26.6% of the population. Foreign-born residents account for 54.8% of the population in Silver Spring, MD, and this percentage has decreased by 0.9% 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 | 8.9% | -19.8% |
% Black | 26.6% | -7.6% |
% Hispanic | 53.1% | 10.9% |
% Asian | 9.5% | -10.4% |
% Foreign Born | 54.8% | -0.9% |
Mortgage and Risk — Silver Spring, MD
According to HUD data as of 2023, there were 40 mortgage originations in Silver Spring, MD, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Silver Spring, MD. Investor activity is low, as 0.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 40 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 20.0% |
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 1.7%. 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. In Silver Spring, MD, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 132 |
Total Units Section 8 | 74 |
% Rentals under Section 8 | 1.7% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $410 | $1,500 | $1,910 |
| 2 Bedroom | $50 | $2,100 | $2,150 |
| 3 Bedroom | $290 | $2,400 | $2,690 |
| 4 Bedroom | $70 | $3,100 | $3,170 |
Affordability — Silver Spring, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.3 |
| Median Home Price | $510,000 |
| Median Household Income | $77,300 |