Anne Arundel Demographics
[su_icon_panel icon=”icon: user” icon_color=”#095566″ icon_size=”50″]573,235 Population[/su_icon_panel][su_icon_panel icon=”icon: suitcase” icon_color=”#095566″ icon_size=”50″]1.6% 1-Year Employment Growth[/su_icon_panel][su_icon_panel icon=”icon: money” icon_color=”#095566″ icon_size=”50″]$97,085 Median Household Income[/su_icon_panel][su_icon_panel icon=”icon: birthday-cake” icon_color=”#095566″ icon_size=”50″]Median Age: 39[/su_icon_panel][su_icon_panel icon=”icon: car” icon_color=”#095566″ icon_size=”50″]86% Commute By Car[/su_icon_panel]
Home to Annapolis, the capitol of Maryland, Anne Arundel is a diverse county in terms of economics and real estate, providing a variety of opportunities for Maryland real estate investors. With a median household income just under $100,000, residents in this coastal county are willing to spend extra for top-notch homes.
In some cities, over 90% of residential properties are single-family residences, while in others, the property types are split evenly between single-families, townhomes, and apartments. Anne Arundel also has a coastline along its entire eastern border, offering miles of waterfront property for its wealthier residents.
Anne Arundel Real Estate Trends
Year Over Year Trends: May 2018 to May 2019
The Anne Arundel trends indicate that the market may be losing some of its steam, with both the number of new listings and days on market increasing and the number of units sold decreasing slightly; however, the market is certainly still a sellers’ market, with months of supply continuing to decrease from last year. Additionally, the average home value grew 2.5% over the past year and is expected to grow slightly this year as well.
The decreased projected growth may indicate an impending buyer’s market, but short-term Fix & Flip investors can still capitalize on the demand within the next year. Carefully selecting the areas to invest in should protect investors from feeling the effects of the possible slowing growth.
Investing in Anne Arundel Real Estate
Anne Arundel has a wide variety of demographics, economic environments, and real estate markets. There are pockets of the county that are great for investors – small houses, quick turnarounds, and sales around $400,000 – as well as tough areas where you’ll have a hard time finding buyers for a typical single family home.
For the most part, fix and flip investors will do better in Anne Arundel than rental investors; while home sale prices have gone up since 2016, rental prices have actually decreased by 14% for 1-beds and have increased by a mere 2% for 2-beds. However, there are parts of the county (Annapolis, for example) where more properties are rented than owned.
Country vs. State: Market Values
| Anne Arundel | Maryland | |
| Median List Price | $407,000 | $325,000 |
| Median Sale Price | $329,700 | $290,000 |
| Medial List Price (per Sq. Ft.) | $219 | $189 |
| Rent Index | $2,007 | $1,804 |
| Rent List Price (per Sq. Ft.) | $1.39 | $1.33 |
Some of the best neighborhoods for investors are Severna Park, Edgewater, and Crofton, where we’re seeing our borrowers buy at (approximately) $180,000, invest $60,000 in rehab, and flip for $325,000 to $350,000.
With a median household income of $97,000 and a median property sale price nearly $40,000 above that of Maryland, Anne Arundel is a well-to-do county with a lot of high quality real estate on the market. Most of the real estate investment value in Anne Arundel comes from flipping rather than renting – while the median listing price per sq. ft. is 16% greater than in Maryland overall, the rent list price per sq. ft. is only 5% greater.
Schools in Anne Arundel County
As the 11th best of 24 Maryland school districts, schools in Anne Arundel can be hit or miss – pay attention to students’ test scores, school rankings, and school amenities when choosing the location for your fix and flip. There are plenty of schools with A and A- ratings in Anne Arundel, especially in and around Annapolis. Below, we provide details about the top five public elementary schools in Anne Arundel County.
Top Anne Arundel Elementary Schools
1. West Annapolis Elementary School
Annapolis, MD
→See our Annapolis, MD real estate profile below.
2. Four Seasons Elementary School
Gambrills, MD
3. Folger McKinsey Elementary at Chesapeake Bay Middle School
Severna Park, MD
→See our Severna Park, MD real estate profile below.
4. Jones Elementary School
Severna Park, MD
→See our Severna Park, MD real estate profile below.
5. Shipley’s Choice Elementary School
Millersville, MD
City Summaries – Anne Arundel, MD
Click to jump to city overview.
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Annapolis, MD
Mean Property Value: $395,900
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Annapolis, especially, is good for flips. The downtown area is beautiful and the residents have a good quality of living – by the water, you also have very wealthy buyers who are looking for huge houses with stunning views. In Annapolis, our borrowers are often buying for $200,000 and seeing sale prices $100,000 higher than they would in other Anne Arundel cities.
Annapolis Real Estate Data
Glen Burnie, MD
Mean Property Value: $245,400
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Although Glen Burnie has the lowest property values and incomes of the cities profiled here, there are a lot of great investment opportunities in the area – perhaps more because the city likely has a higher proportion of dilapidated properties. Additionally, over half of the homes are single-families and over three-quarters have three bedrooms or less. For a discerning investor, there may be a lot of low-priced, easy-rehab, quick-turnaround properties here that you won’t find in wealthier towns like Severna Park or Crofton.
Glen Burnie Real Estate Data
Severna Park, MD
Mean Property Value: $520,100
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Severna Park is home to two of the top five public elementary schools in Anne Arundel County; its residents also have the highest incomes and property values – the median property value is slightly over $500,000. This is reflected in the types of homes available in the city; 95% of the houses are single family, 92% of residences are owned by the residents, and nearly 60% of the properties have four or more beds. For investors specializing in high-end rehabs and high-value flips, Severna Park may be the ideal Maryland investment location.
Severna Park Real Estate Data
Odenton, MD
Mean Property Value: $315,900
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Odenton is great for every type of investor, with around 31% of residents renting and the rest owning. Additionally, the property types are more or less evenly split among single family, townhouse, and apartments. Odenton residents have high incomes and home values at $97,000 and $316,000, respectively, but the prices still reasonable enough that simple 3-bed upgraded homes will sell. With good schools and an overall Niche Grade of A, this Maryland town is a safe and simple bet for fix and flip investors.
Odenton Real Estate Data
Crofton, MD
Mean Property value: $370,700
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For fix and flip investors, Crofton is another great choice in Anne Arundel. The vast majority of residents here own their properties and have higher than average income and property values – the second highest on this list, behind only Severna Park. You’ll have your pick of single family or town home purchases; the latter slightly outnumber the former in this planned community near Annapolis.
Crofton Real Estate Data
Asset Based Lending specializes in hard money loans for Maryland real estate investments.
If you’re looking for an expert loan officer to help you fund your next investment project, call us at 201-942-9089 or pre-qualify online. Want to meet the loan officer for your Maryland fix and flip or new construction? Check out Scott Davis.
[su_photo_panel photo=”https://www.ablfunding.com/wp-content/uploads/2019/06/Baltimore-Report-Cover-2.png” url=”https://www.ablfunding.com/blog/baltimore-real-estate-investing-report/”]Related: 2019 Baltimore Real Estate Investing Report[/su_photo_panel][su_photo_panel photo=”https://www.ablfunding.com/wp-content/uploads/2019/07/Prince-Georges-Report-Cover.png” url=”https://www.ablfunding.com/blog/2019-prince-georges-county-real-estate-report/”]Related: 2019 Prince George’s County Real Estate Investing Report[/su_photo_panel]
- Demographic data from Data USA.
- Trend data from Long and Foster.
- Real estate data from NeighbourhoodScout.
- Market values from Zillow.
- Livability scores from areavibes.
*Livability score combines ratings for amenities, cost of living, crime, education, employment, housing, and weather to evaluate the quality of an area in a single metric.