There are currently 8,226 real estate properties in Cumberland, MD, with a median automated valuation model (AVM) price of $91,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Cumberland, MD, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Cumberland, MD, is $109,685.00, with the most expensive house in Cumberland, MD, topping out at $1,185,800.00 and the cheapest home in Cumberland, MD, clocking in at $13,700.00. In other words, there’s something for every potential homebuyer or savvy investor in Cumberland, MD!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Cumberland, MD, is on a rollercoaster ride. The average rent price in Cumberland, MD, is $1,074.00. Indeed, when looking to rent in Cumberland, MD, you can expect to pay as little as $510.00 or as much as $2,600.00, with the average rent median estimated to be $1,030.00. The good news is that finding an affordable and desirable property to rent in Cumberland, MD -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Cumberland, MD area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Cumberland, MD and much more. Save thousands at closing with home foreclosure listings in Cumberland, MD — up to 75% off market value!
Cumberland is located in Allegany, Maryland, with an estimated municipal population of 19,284 residents. All of the best foreclosed homes for sale in Cumberland are located in the following zip code areas on Foreclosure.com: 21502 21501 21503 21504 21505. The estimated population per square kilometer (.62 miles) in Cumberland is 740.
So, about how much do homes cost in Cumberland? The most recent median value of resident-owned homes in Cumberland is 91,860. An estimated 51.5 percent of households in Cumberland own their homes, with an average family size of 3.04. The median household income in Cumberland is 36,145, with12.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Cumberland, the median commute time of resident workers (in minutes) is 18.9. And last, but certainly not least, are you looking for homes to rent in Cumberland? If so, the average rent price paid by renters in Cumberland is 662, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Cumberland, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Cumberland is 39.7, split between 46.8 percent male versus 53.2 female. The percentage of residents who report being married in Cumberland is 37, with an average family size of 3.04.
The percentage of residents who report their race in Cumberland is as follows:
|Black / African American||5.8%|
|American Indian / Alaskan Native||0.1%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Cumberland? Or maybe you are searching for 55+ active adult communities in and/or near Cumberland?
The percentage of residents who report their age in Cumberland is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Cumberland with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Cumberland.
How do you know that living in -- or moving to -- Cumberland is right where you need to be? Perhaps you grew up in Cumberland or already live nearby; therefore, the decision to buy a home in Cumberland is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Cumberland for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Cumberland:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Cumberland.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Cumberland can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Cumberland, meanwhile, can field multiple offers from more qualified buyers.