The population of Annapolis is somewhat affluent compared to others in Maryland with a median income of $70,253 per household. It's also considered an expensive city in terms of affordability with a cost of living adjustment score of 137.8. Annapolis is made up of homes that are considered relatively old with a median of 38 years. Topping the list of best schools in the city is West Annapolis Elementary School.
The median value of homes in Annapolis is $345,200, making it one of the most valuable areas in Maryland. At the same time, the average list price of available homes is presently $485,440. With home sales in the Annapolis market already below average, in this week's report they slid 10.6% to 42 homes sold over the last 30 days.
Make sure you take a look at these eye-catching homes in Annapolis that generated the most views from potential buyers:
A three-bedroom detached home valued around $511,017 is considered a typical dwelling in Annapolis. If a buyer was looking for a similar home, they would need good credit and a $102,203 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,732 and the property tax rate is $10.70 per $1,000 of taxable assessed value.
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