The State of Maryland Housing 2024 report is from a survey run by the National Association of REALTORS(R) and the local Maryland REALTORS(R) branch.

The interviews were run from January 9-16, 2024.

Key findings from the State of Maryland Housing 2024 report:

  • 82% of those surveyed feel that the cost to buy a house or rent an unit is too high, which is a six point increase from 2023.
  • Approximately 50% felt some financial strain from the amount they pay towards their mortgage or rent, while 25% said housing costs cause a significant financial strain.
  • Many felt they face a number of obstacles when it comes to buying a home, including low wages, higher interest rates, and saving for a down payment.
  • The majority perception is that there is not enough housing for moderate income earners.

So what does this mean for the State of Maryland Housing in 2024?

Affordability continues to be a concern for Maryland homebuyers. Most believe there is not enough housing available for low-to-middle income earners. Many potential Maryland homebuyers feel they don’t make enough money, or have enough money saved to be able to buy a home in Maryland.

I thank the National Association of REALTORS(R) and Maryland REALTORS(R) for this data.

If you are considering buying a home in Baltimore, Towson, Timonium or the Greater Baltimore real estate area, please contact me. I would be happy to help!