There are currently 32,690 real estate properties in Ocean City, MD, with a median automated valuation model (AVM) price of $444,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Ocean City, 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 Ocean City, MD, is $496,816.00, with the most expensive house in Ocean City, MD, topping out at $12,622,300.00 and the cheapest home in Ocean City, MD, clocking in at $74,600.00. In other words, there’s something for every potential homebuyer or savvy investor in Ocean City, MD!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Ocean City, MD, is on a rollercoaster ride. The average rent price in Ocean City, MD, is $1,305.00. Indeed, when looking to rent in Ocean City, MD, you can expect to pay as little as $720.00 or as much as $4,020.00, with the average rent median estimated to be $1,260.00. The good news is that finding an affordable and desirable property to rent in Ocean City, 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 Ocean City, MD area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Ocean City, MD and much more. Save thousands at closing with home foreclosure listings in Ocean City, MD — up to 75% off market value!
Ocean City is located in Worcester, Maryland, with an estimated municipal population of 6,944 residents. All of the best foreclosed homes for sale in Ocean City are located in the following zip code areas on Foreclosure.com: 21842 21843. The estimated population per square kilometer (.62 miles) in Ocean City is 591.
So, about how much do homes cost in Ocean City? The most recent median value of resident-owned homes in Ocean City is 298,409. An estimated 70.1 percent of households in Ocean City own their homes, with an average family size of 2.63. The median household income in Ocean City is 54,014, with24.6 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Ocean City, the median commute time of resident workers (in minutes) is 21.4. And last, but certainly not least, are you looking for homes to rent in Ocean City? If so, the average rent price paid by renters in Ocean City is 1,040, 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 Ocean City, 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 Ocean City is 56.4, split between 51.8 percent male versus 48.2 female. The percentage of residents who report being married in Ocean City is 44.3, with an average family size of 2.63.
The percentage of residents who report their race in Ocean City is as follows:
|Black / African American||1.8%|
|American Indian / Alaskan Native||0%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Ocean City? Or maybe you are searching for 55+ active adult communities in and/or near Ocean City?
The percentage of residents who report their age in Ocean City 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 Ocean City with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Ocean City.
How do you know that living in -- or moving to -- Ocean City is right where you need to be? Perhaps you grew up in Ocean City or already live nearby; therefore, the decision to buy a home in Ocean City is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Ocean City 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 Ocean City:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Ocean City.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Ocean City can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Ocean City, meanwhile, can field multiple offers from more qualified buyers.
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