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Thursday, November 14, 2024

Analysis: Wages not keeping pace with median home prices in Anne Arundel County

Realestate5

Rising home prices are outpacing wage growth in Anne Arundel County and six other Maryland counties, according to an analysis of 432 counties nationwide by ATTOM Data Solutions in the second quarter.

Wages rose 2.3 percent in Anne Arundel County since last year. During the same period, median home prices in the county rose 4.4 percent.

Six other Maryland counties saw wages outpace median home prices.

Home prices and wages in Maryland counties

CountyQ2 2018 Median Sales PriceYoY Median Home Price GrowthAnnualized Weekly WagesYoY Annualized Wage GrowthPrices Outpacing Annualized Wages?
Frederick$282,0004.1%$49,9721.4%YES
Carroll$305,0005.9%$43,4073.8%YES
Charles$271,5006.5%$45,8251.6%YES
Cecil$195,0004.1%$47,3983.3%YES
Anne Arundel$333,0004.4%$57,9412.3%YES
Harford$235,0002.6%$51,3891.6%YES
Saint Marys$258,9503.7%$66,3912.5%YES
Prince George's County$260,0002.0%$56,5892.5%NO
Montgomery$429,000-0.2%$73,4502.8%NO
Washington$159,9000.3%$41,8083.1%NO
Wicomico$140,0000.0%$43,6153.5%NO
Baltimore$219,0000.0%$54,7303.1%NO
Howard$390,0000.0%$66,1702.1%NO
Source: ATTOM Data Solutions

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