Essex, MD—21221
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Essex, MD
As of Oct '25, the median home price in Essex, MD is $289,000, with a year-over-year change of 1.8%. This indicates that home prices in Essex, 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 | $289,000 | 1.8% |
| Single Family | $293,000 | 1.7% |
| Condos | $192,000 | 1.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $230,000 | 1.3% |
3 Bed | $276,000 | 1.5% |
4 Bed | $365,000 | 1.7% |
| 5 Bed | $445,000 | 0.9% |
% of Housing Stock
Rental Trends — Essex, MD
As of July '25, Rentcast reports the average rent in Essex, MD is $1,990, with a year-over-year rent change of 15.0%. Per bedroom, the median rent as of July '25 in Essex, MD is studios: $935, 1-bedrooms: $1,020, 2-bedrooms: $1,590, 3-bedrooms: $2,240, 4-bedrooms: $2,530. The most common rental property sizes in Essex, MD are 2-bedroom and 1-bedroom, accounting for 45.5% and 26.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,880 | $1,990 |
| Studio Rent | $940 | $935 |
| 1 Bed Rent | $999 | $1,020 |
| 2 Bed Rent | $1,450 | $1,590 |
| 3 Bed Rent | $1,980 | $2,240 |
| 4 Bed Rent | $2,350 | $2,530 |
% of Rental Stock
Property Listings — Essex, MD
As of Oct '25, Realtor.com reports that the median days on market for a home in Essex, MD is 36. This is a decrease of -3.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $309,000 | -7.0% |
Listing Count | 117 | 13.0% |
| Listings as % of Homes | 0.6% | 13.0% |
Days on Market | 36 | -3.0% |
Demographics — Essex, MD
As of the latest ACS Survey released in 2023, Essex, MD has a population of 43,500, which has remained stable by 1.0% over the past 5 years. Essex, MD is a moderately popular place for families, as children make up 22.0% of the population. The area has a poorly educated workforce, with 19.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,500 | 1.0% |
% Under 18 | 22.0% | -6.0% |
% Seniors | 17.0% | 4.9% |
% WFH | 7.1% | 144.8% |
% w/ College Degree | 19.8% | 31.1% |
As of the latest ACS Survey released in 2023, Essex, MD is a predominantly white area, with 54.2% of the population identifying as white. The white population has shrunk by 12.4% in the last 5 years. The second most common race or ethnicity in Essex, MD is black, making up 32.1% of the population. Foreign-born residents account for 8.3% of the population in Essex, MD, and this percentage has increased by 5.1% 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 | 54.2% | -12.4% |
% Black | 32.1% | 9.9% |
% Hispanic | 7.0% | 48.9% |
% Asian | 1.5% | -11.8% |
% Foreign Born | 8.3% | 5.1% |
Mortgage and Risk — Essex, MD
According to HUD data as of 2023, there were 640 mortgage originations in Essex, MD, of which 61.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 50.0% above 90% LTV (very high). This implies large mortgage risk in Essex, MD. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 640 |
% Conventional Loans | 61.0% |
% Government Loans | 39.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Essex, MD
As of 2024, the percent of homes in Essex, MD under the Section 8 program is 13.9%. 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 Essex, 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 | 960 |
Total Units Section 8 | 960 |
% Rentals under Section 8 | 13.9% |
% Occupied Section 8 | 88.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $431 | $999 | $1,430 |
| 2 Bedroom | $300 | $1,450 | $1,750 |
| 3 Bedroom | $290 | $1,980 | $2,270 |
| 4 Bedroom | $220 | $2,350 | $2,570 |
Affordability — Essex, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $289,000 |
| Median Household Income | $67,400 |