Maryland’s suburban real estate has experienced steady growth over the years, marred only by the pandemic. It peaked once things returned to normal.
Why, you ask?
Once the world returned to normal, people returned to urban centers in full force. The congestion was enough for anyone living in those urban hubs to want to hightail it to the nearest suburb.
Real estate investors noticed this subtle but sure trend shift and started putting their money in quiet, idyllic neighborhoods surrounding Maryland’s urban centers and financial hubs. While things have calmed down somewhat, the suburbs remain a great investment avenue for investors. Click here to fund your single-family property investment in these parts of the state.
Today’s blog will delve deeper into the most popular Maryland suburbs and help you tap into them with private financing options.
A Closer Look at Maryland’s Suburban Renaissance
At first glance, you’ll notice that this Mid-Atlantic state has a rather diverse economy. Its key industries include advanced manufacturing, cybersecurity and IT, life science, and aviation, to name a few.
Maryland is a land of opportunities for potential employees and their families. It’s no wonder the state has seen an influx of new residents over the years. The state’s six million residents need a place to live.
Their demand for housing is reflected in the median home value. Zillow reports a 2.5% increase in home value, with the average price being $404,703. Our theory is that this price only goes up the further you go from the town centers and the closer you get to the quieter neighborhoods.
The Neighborhoods Contributing to the Suburban Real Estate Boom
Below is a list of the suburbs contributing to the rise of suburban real estate in Maryland.
· Bethesda
Bethesda has none of the traits outlining a big city. It has neither a skyscraper nor a giant chain store, whose parking lot takes up space better used as a public park. The town has a unique small-town charm and is home to a diverse smattering of young and hopeful professionals, families in it for the best school systems, and retirees seeking a quiet reprieve from it all.
For that reason, the home prices and rental rates are not on the low end. It’s not the best choice for those looking to settle down somewhere near DC, but it’s amazing if you’re an investor looking to expand your rental portfolio.
According to the latest stats, the average home value in Bethesda is $1,112,709, a 1.1% increase over the past year. Once you’ve acquired a two-bed property in this township, you stand to earn an average of $3,501 monthly, maybe more if you play your cards right.
· Chevy Chase
Chevy Chase, the town, not the actor or the car, is a census-designated place in Montgomery County. It’s roughly a 20-minute drive from Washington, DC, and houses a little over 10,000 people, most owning their properties.
It’s the perfect place to spend a quiet weekend, which is usually very busy for larger cities with museums, zoos, and other tourist attractions.
As for what’s in it for you, dear investor, if the average home value in Bethesda has gone up 1.1%, it has risen by a whopping 2% in Chevy Chase. The house prices are nothing to scoff at, so young professionals and families may prefer to rent a home until they can gather enough funds to buy one.
See where we’re going with this? A single-family rental it is!
· Potomac
Potomac owes its quiet and serene environment to more residential than commercial districts. While it’s not a stone’s throw away from Washington as the other towns on this list, it attracts retirees and high-income individuals and families who can afford the 30-odd minute commute to the big city.
The thing that sets the homes in this town apart is the distance between each property. They are very spaced out instead of being stacked together like modern condos and townhouses.
As a real estate investor, you should invest in a property in this town because it has seen a steady 2.1% rise over the past year. Anything you pay for a property now will come with plentiful returns once you manage to resell or put it up for rent.
· Silver Spring
The most important thing people look for in a suburb is its proximity to a place of employment, education, and amenities.
The small town of Silver Spring has all of these things with the added kick of history. While it has seen its fair share of new developments, the town’s old-style homes refuse to give way to modern condos.
If you’re a fan of old-town charm, consider supporting the many historically important residential homes around this small town. At an average rate of $521,985, they don’t cost as much as the homes in the other towns on this list: A win-win for investors and residents alike!
Financing Your Suburban Real Estate Project 101
InstaLend understands that every real estate investment is unique. Our tailored loan programs cater to the specific requirements of each project. Whether you want to purchase a single-family property, renovate an existing one, or develop new constructions, consider our hard money loans first and foremost.
Make the most of Maryland’s trending suburban real estate by consulting our experts for loan advice and viable solutions. You don’t need to show your income, pay an upfront fee, or show us your tax returns!
Contact us for inquiries and solutions today.
