So, you’re thinking of buying property in Bowie MD. We don’t blame you; this city has a whole lot to offer! From it’s high median income to its lively real estate market and its beautiful surroundings, there’s no shortage of things to grab your attention and hold it. But you’re not here to hear about the surroundings, nor the job market, now are you. You want the latest info on the real estate market, and we aim to deliver!
When it comes to the real estate market in Bowie, there are plenty of things to assess, many of which are just as attractive as its other attributes. While the ins and outs of this particular market may not attract every home buyer, there’s a good chance that it will appeal to you. Let’s take a closer look at this particular market and see what all it has to offer, shall we?
What is the median price of a home in Bowie MD?
To start off, let’s take a look at the median home price in Bowie. The median home price is important for a variety of reasons, but it’s important first and foremost as a means of determining what you can and can’t afford. Regardless how nice a city might be, if the median home price is substantially more than you can afford, you’d probably be better off if you kept searching.
So what is the median home price in Bowie MD? Well, at a steep but doable $455,000, homes are quite pricey. This price may seem high, but when you compare it to the median appreciation rate (which we’ll get to in a bit) it’s quite understandable. When you factor in the massive investment potential, we think the price is more than reasonable.
Given it’s above average median home price, homes in Bowie are quite acceptable when it comes to build quality, aesthetic design and other factors that might determine whether you buy a home here. At this price point you can expect a certain level of quality, but the city of Bowie delivers an impressive level of quality from this point of view nonetheless.
What is the property appreciation rate in Bowie MD
With such a steep median home price, you’d expect a reasonably average appreciation rate on real estate; according to real estate agents in Bowie MD, this is about what you can expect. With an appreciation rate of 6.5% over the last year, it’s not on par with cities like Baltimore and Annapolis, but it’s surprisingly attractive nonetheless.
With an appreciation rate at this level, we would advise in favor of investment if you’re looking at things from a long-term investment perspective. Due to Bowie’s relatively close proximity to the city of Washington D.C., property values in this city are estimated to increase in the years to come as the capital expands outwards and demand for housing increases.
If you’re a foresightful and experienced investor, there’s a good chance you’ll be able to turn a substantial profit in this market, provided you choose your purchases judiciously. If you know what you’re doing, the minimal financial requirements and relatively high appreciation rate should work in your favor over time.
What type of homes are most popular in Bowie MD?
If you’re wondering what type of homes you’re most likely to find in Bowie MD, you’re in luck! Lining the streets of this beautiful city you’ll find a wide variety of different types of architectural styles and designs, differing slightly from neighborhood to neighborhood. The bottom line is this: if you’re looking for a particular type of home, you’re likely to find it here!
By far the most popular type of home in Bowie is the traditional home. These homes stick to the structural and decorative elements of those you’re most likely to find in neighborhoods across the country, providing a sense of comforting familiarity to the residents and passersby. The key characteristics here are simplicity, ease of maintenance and familiarity.
Then there are modern homes. You’ll usually find this type of home further out into the suburbs, but sometimes nearer to the center as well. These homes incorporate large amounts of concrete and glass into their designs, achieving a clean, minimalist look that is functional and practical, but also innately elegant and stylish.
Dotted across the cityscape of downtown Bowie, you’ll also occasionally come across examples of contemporary, postmodern and even brutalist residential architecture. These homes are not nearly as common as those listed above, but can be found if you search hard enough. If you’re looking for something unique, you might want to try searching for something along these lines.
What is the average rent price in Bowie MD?
If you can’t afford the admittedly steep median home price, you’re probably going to be looking for a rental. There are a number of pros and cons that accompany renting, but in an area like this, it might be the only option you can afford. So what exactly is the rent price, and is it affordable enough for you?
Well, with a median monthly rent cost of $1,880, rents aren’t exactly cheap. They aren’t Washington D.C. expensive, obviously, but the monthly rent price is still quite pricey nonetheless. If you can afford it, the rentals available in this city are above average in quality, which is a nice plus, if you’re looking to see things in a positive light.
With all this said, we think it’s abundantly clear that the town of Bowie is not just a great place to live; it’s also a great place to invest! Whether you’re a new homebuyer looking for a place to purchase your first house or a veteran investor looking to corner an untapped market, you’re likely to find what you’re looking for here. If you’re looking for real estate in eastern Maryland, this might just be the place for you!