Cheltenham, MD 20623 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Cheltenham, MD—20623

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$508,000

0.1% YoY Growth

Household Income

$132,000

8.6% YoY Growth

Days on Market

226

305.0% Longer YoY

Home Price Forecast

0.0%

Median Rent

$850

8.8% YoY Growth

1-Bed Rent

$850

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Cheltenham, MD

As of Dec '25, the median home price in Cheltenham, MD is $508,000, with a year-over-year change of -0.1%. This indicates that home prices in Cheltenham, MD are flat. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$508,000	-0.1%
Single Family	$508,000	-0.2%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Cheltenham, MD

As of July '25, Rentcast reports the average rent in Cheltenham, MD is $2,580, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in Cheltenham, MD is 1-bedrooms: $850, 4-bedrooms: $4,300. The most common rental property sizes in Cheltenham, MD are 4-bedroom and studio, accounting for 100.0% and 0.0% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$850	$2,580
Studio Rent	N/A	N/A
1 Bed Rent	$850	$850
2 Bed Rent	N/A	N/A
3 Bed Rent	N/A	N/A
4 Bed Rent	$4,300	$4,300

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% of Rental Stock

4 Bedrooms

100.0%

Property Listings — Cheltenham, MD

As of Dec '25, Realtor.com reports that the median days on market for a home in Cheltenham, MD is 198. This is a increase of 458.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$415,000	-10.0%
Listing Count	5	60.0%
Listings as % of Homes	0.6%	60.0%
Days on Market	226	305.0%

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Demographics — Cheltenham, MD

As of the latest ACS Survey released in 2023, Cheltenham, MD has a population of 2,850, which has decreased by -3.0% over the past 5 years. Cheltenham, MD is a moderately popular place for families, as children make up 15.9% of the population. The area has a moderately educated workforce, with 36.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	2,850	-3.0%
% Under 18	15.9%	-30.9%
% Seniors	26.5%	248.7%
% WFH	15.0%	383.9%
% w/ College Degree	36.5%	-3.4%

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As of the latest ACS Survey released in 2023, Cheltenham, MD is a predominantly black area, with 78.7% of the population identifying as black. The black population has grown by 1.3% in the last 5 years. The second most common race or ethnicity in Cheltenham, MD is white, making up 6.7% of the population. Foreign-born residents account for 1.7% of the population in Cheltenham, MD, and this percentage has decreased by 73.4% 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	6.7%	-49.6%
% Black	78.7%	1.3%
% Hispanic	3.1%	3.3%
% Asian	1.9%	-55.8%
% Foreign Born	1.7%	-73.4%

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Mortgage and Risk — Cheltenham, MD

According to HUD data as of 2023, there were 133 mortgage originations in Cheltenham, MD, of which 57.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Cheltenham, MD. Investor activity is low, as 2.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	133
% Conventional Loans	57.0%
% Government Loans	43.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	18.0%

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Rentals and Section 8 — Cheltenham, MD

Cheltenham, MD lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	20
Total Units Section 8	20
% Rentals under Section 8	114.3%
% Occupied Section 8	94.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$1,370	$850	$2,220
2 Bedroom	N/A	N/A	$2,500
3 Bedroom	N/A	N/A	$3,120
4 Bedroom	-$610	$4,300	$3,690

Cheltenham, MD—20623

Key Metrics at a Glance

Home Price Trends — Cheltenham, MD

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Cheltenham, MD

% of Rental Stock

Property Listings — Cheltenham, MD

Demographics — Cheltenham, MD

Race and Ethnicity

Mortgage and Risk — Cheltenham, MD

Mortgages

Rentals and Section 8 — Cheltenham, MD

Section 8 Market Size

Section 8 Opportunity

Affordability — Cheltenham, MD

Home Price to Income Ratio

Cheltenham, MD — ZIP Code Boundary Map

Nearby ZIP Codes

Clinton, MD

Andrews AFB, MD

Brandywine, MD

Upper Marlboro, MD

District Heights, MD

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.7
Median Home Price	$508,000
Median Household Income	$132,000

Cheltenham, MD—20623

Key Metrics at a Glance

Home Price Trends — Cheltenham, MD

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Cheltenham, MD

% of Rental Stock

Property Listings — Cheltenham, MD

Demographics — Cheltenham, MD

Race and Ethnicity

Mortgage and Risk — Cheltenham, MD

Mortgages

Rentals and Section 8 — Cheltenham, MD

Section 8 Market Size

Section 8 Opportunity

Affordability — Cheltenham, MD

Home Price to Income Ratio

Cheltenham, MD — ZIP Code Boundary Map

Nearby ZIP Codes

Clinton, MD

Andrews AFB, MD

Brandywine, MD

Upper Marlboro, MD

District Heights, MD

Frequently Asked Questions

What is the average home price in Cheltenham, MD 20623?

How have home prices in Cheltenham, MD 20623 changed over the past year?

What is the home price projection for Cheltenham, MD 20623?

What are the demographics of Cheltenham, MD 20623?

How long does it take homes to sell in Cheltenham, MD 20623?

What is the average rent price in Cheltenham, MD 20623?