Silver Spring, MD—20906
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 $442,000, with a year-over-year change of 1.0%. This indicates that home prices in Silver Spring, 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 | $442,000 | 1.0% |
| Single Family | $533,000 | 0.2% |
| Condos | $252,000 | -0.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $166,000 | 2.5% |
2 Bed | $247,000 | -0.8% |
3 Bed | $455,000 | 0.2% |
4 Bed | $601,000 | 0.2% |
| 5 Bed | $690,000 | 0.0% |
% of Housing Stock
Rental Trends — Silver Spring, MD
As of July '25, Rentcast reports the average rent in Silver Spring, MD is $2,430, with a year-over-year rent change of 8.0%. Per bedroom, the median rent as of July '25 in Silver Spring, MD is studios: $1,000, 1-bedrooms: $1,470, 2-bedrooms: $2,110, 3-bedrooms: $2,970, 4-bedrooms: $3,380. The most common rental property sizes in Silver Spring, MD are 2-bedroom and 1-bedroom, accounting for 47.5% and 25.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,430 |
| Studio Rent | $1,000 | $1,000 |
| 1 Bed Rent | $1,520 | $1,470 |
| 2 Bed Rent | $2,100 | $2,110 |
| 3 Bed Rent | $2,900 | $2,970 |
| 4 Bed Rent | $3,200 | $3,380 |
% 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 29. This is a increase of 31.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $353,000 | -10.0% |
Listing Count | 210 | 34.0% |
| Listings as % of Homes | 0.5% | 34.0% |
Days on Market | 29 | 31.0% |
Demographics — Silver Spring, MD
As of the latest ACS Survey released in 2023, Silver Spring, MD has a population of 71,200, which has increased by 1.5% over the past 5 years. Silver Spring, MD is a moderately popular place for families, as children make up 21.9% of the population. The area has a moderately educated workforce, with 42.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 71,200 | 1.5% |
% Under 18 | 21.9% | 1.4% |
% Seniors | 21.1% | 4.5% |
% WFH | 16.3% | 352.8% |
% w/ College Degree | 42.4% | 12.2% |
As of the latest ACS Survey released in 2023, Silver Spring, MD is a predominantly hispanic area, with 32.0% of the population identifying as hispanic. The hispanic population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Silver Spring, MD is white, making up 25.6% of the population. Foreign-born residents account for 42.3% of the population in Silver Spring, MD, and this percentage has decreased by 3.2% 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 | 25.6% | -1.2% |
% Black | 24.9% | 2.5% |
% Hispanic | 32.0% | -3.3% |
% Asian | 11.5% | -10.9% |
% Foreign Born | 42.3% | -3.2% |
Mortgage and Risk — Silver Spring, MD
According to HUD data as of 2023, there were 521 mortgage originations in Silver Spring, MD, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 30.0% 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 | 521 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% 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 10.3%. 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 | 868 |
Total Units Section 8 | 866 |
% Rentals under Section 8 | 10.3% |
% Occupied Section 8 | 96.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $430 | $1,520 | $1,950 |
| 2 Bedroom | $90 | $2,100 | $2,190 |
| 3 Bedroom | -$160 | $2,900 | $2,740 |
| 4 Bedroom | $30 | $3,200 | $3,230 |
Affordability — Silver Spring, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $442,000 |
| Median Household Income | $93,000 |