Silver Spring, MD—20904
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 $582,000, with a year-over-year change of 1.2%. This indicates that home prices in Silver Spring, MD are increasing. 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 | $582,000 | 1.2% |
| Single Family | $606,000 | 0.3% |
| Condos | $290,000 | -1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $194,000 | -1.0% |
2 Bed | $296,000 | -0.3% |
3 Bed | $489,000 | 0.0% |
4 Bed | $642,000 | -0.3% |
| 5 Bed | $718,000 | -0.6% |
% of Housing Stock
Rental Trends — Silver Spring, MD
As of July '25, Rentcast reports the average rent in Silver Spring, MD is $2,300, with a year-over-year rent change of 12.2%. Per bedroom, the median rent as of July '25 in Silver Spring, MD is studios: $1,200, 1-bedrooms: $1,570, 2-bedrooms: $1,960, 3-bedrooms: $2,910, 4-bedrooms: $3,550. The most common rental property sizes in Silver Spring, MD are 2-bedroom and 1-bedroom, accounting for 45.9% and 27.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $2,300 |
| Studio Rent | $1,200 | $1,200 |
| 1 Bed Rent | $1,590 | $1,570 |
| 2 Bed Rent | $1,970 | $1,960 |
| 3 Bed Rent | $2,900 | $2,910 |
| 4 Bed Rent | $3,500 | $3,550 |
% 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 70.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $608,000 | 1.0% |
Listing Count | 85 | 43.0% |
| Listings as % of Homes | 0.2% | 43.0% |
Days on Market | 35 | 70.0% |
Demographics — Silver Spring, MD
As of the latest ACS Survey released in 2023, Silver Spring, MD has a population of 57,200, which has remained stable by 0.4% over the past 5 years. Silver Spring, MD is a moderately popular place for families, as children make up 23.8% of the population. The area has a highly educated workforce, with 49.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 57,200 | 0.4% |
% Under 18 | 23.8% | 12.8% |
% Seniors | 20.7% | 15.0% |
% WFH | 18.5% | 362.5% |
% w/ College Degree | 49.5% | 3.1% |
As of the latest ACS Survey released in 2023, Silver Spring, MD is a predominantly black area, with 49.3% of the population identifying as black. The black population has grown by 7.2% in the last 5 years. The second most common race or ethnicity in Silver Spring, MD is white, making up 20.0% of the population. Foreign-born residents account for 38.7% of the population in Silver Spring, MD, and this percentage has decreased by 1.5% 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 | 20.0% | -11.5% |
% Black | 49.3% | 7.2% |
% Hispanic | 16.3% | 10.9% |
% Asian | 10.6% | -27.4% |
% Foreign Born | 38.7% | -1.5% |
Mortgage and Risk — Silver Spring, MD
According to HUD data as of 2023, there were 529 mortgage originations in Silver Spring, MD, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Silver Spring, MD. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 529 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
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 12.8%. 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 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 and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,299 |
Total Units Section 8 | 1,289 |
% Rentals under Section 8 | 12.8% |
% Occupied Section 8 | 91.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $380 | $1,590 | $1,970 |
| 2 Bedroom | $250 | $1,970 | $2,220 |
| 3 Bedroom | -$120 | $2,900 | $2,780 |
| 4 Bedroom | -$230 | $3,500 | $3,270 |
Affordability — Silver Spring, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.8 |
| Median Home Price | $582,000 |
| Median Household Income | $93,300 |