New Market, MD—21774
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Market, MD
As of Oct '25, the median home price in New Market, MD is $599,000, with a year-over-year change of 1.9%. This indicates that home prices in New Market, 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 | $599,000 | 1.9% |
| Single Family | $606,000 | 1.3% |
| Condos | N/A | N/A |
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 | $497,000 | 1.2% |
4 Bed | $666,000 | 0.8% |
| 5 Bed | $779,000 | 0.4% |
% of Housing Stock
Rental Trends — New Market, MD
As of July '25, Rentcast reports the average rent in New Market, MD is $3,320, with a year-over-year rent change of 7.8%. Per bedroom, the median rent as of July '25 in New Market, MD is 1-bedrooms: $1,700, 2-bedrooms: $2,050, 3-bedrooms: $2,940, 4-bedrooms: $3,900. The most common rental property sizes in New Market, MD are 3-bedroom and 1-bedroom, accounting for 32.9% and 27.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,100 | $3,320 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,700 | $1,700 |
| 2 Bed Rent | $1,600 | $2,050 |
| 3 Bed Rent | $2,950 | $2,940 |
| 4 Bed Rent | $3,380 | $3,900 |
% of Rental Stock
Property Listings — New Market, MD
As of Oct '25, Realtor.com reports that the median days on market for a home in New Market, MD is 27. This is a increase of 15.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $580,000 | -18.0% |
Listing Count | 75 | 26.0% |
| Listings as % of Homes | 1.5% | 26.0% |
Days on Market | 27 | 15.0% |
Demographics — New Market, MD
As of the latest ACS Survey released in 2023, New Market, MD has a population of 16,500, which has increased by 29.7% over the past 5 years. New Market, MD is a popular place for families, as children make up 29.1% of the population. The area has a highly educated workforce, with 60.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,500 | 29.7% |
% Under 18 | 29.1% | -1.0% |
% Seniors | 9.2% | -5.2% |
% WFH | 23.8% | 193.8% |
% w/ College Degree | 60.6% | 10.4% |
As of the latest ACS Survey released in 2023, New Market, MD is a predominantly white area, with 78.3% of the population identifying as white. The white population has shrunk by 8.6% in the last 5 years. The second most common race or ethnicity in New Market, MD is hispanic, making up 7.8% of the population. Foreign-born residents account for 7.6% of the population in New Market, MD, and this percentage has increased by 65.2% 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 | 78.3% | -8.6% |
% Black | 5.1% | 13.3% |
% Hispanic | 7.8% | 56.0% |
% Asian | 3.6% | 71.4% |
% Foreign Born | 7.6% | 65.2% |
Mortgage and Risk — New Market, MD
According to HUD data as of 2023, there were 619 mortgage originations in New Market, MD, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in New Market, MD. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 619 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — New Market, MD
As of 2024, the percent of homes in New Market, MD under the Section 8 program is 2.8%. 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. In New Market, 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 | 29 |
Total Units Section 8 | 29 |
% Rentals under Section 8 | 2.8% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $890 | $1,700 | $2,590 |
| 2 Bedroom | $1,310 | $1,600 | $2,910 |
| 3 Bedroom | $690 | $2,950 | $3,640 |
| 4 Bedroom | $910 | $3,380 | $4,290 |
Affordability — New Market, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $599,000 |
| Median Household Income | $172,000 |