Waldorf vs. Upper Marlboro: Which is Cheaper Living?

    I'm writing this as a response to a debate on a web forum regarding housing costs in Waldorf and Upper Marlboro.

    The question seems to be which location is more affordable, among other things.  My instinct has always been the Waldorf is a little more affordable, but I've always assumed that from my "gut" rather than stats (I think it's called the Steve Colbert approach to "facts").  Obviously that's not enough to satisfy a serious query on the subject, so I pulled the sales figures for Waldorf and Upper Marlboro to compare.  Here's what I have found: (all figures from MRIS.com)

From 6/1/2008-6/30/2008

Waldorf, 20601

    17 Homes Sold

    233 Active Listings

    Sold Ratio: 1:13.7

    Average Sold Price:  $294,494

    Median Sold Price:    $280,000

Waldorf 20602

    22 Homes Sold

    233 Active Listings

    Sold Ratio: 1:10.59

    Average Sold Price:    $253,954

    Median Sold Price:    $244,700

Upper Marlboro, 20772

    30 Homes Sold

    500 Active Listings

    Sold Ratio: 1:16.67

    Average Sold Price:    $314,256

    Median Sold Price:    $312,500

Upper Marlboro, 20774

    35 Homes Sold

    465 Active Listings

    Sold Ratio: 1:13.28

    Average Sold Price:    $282,814

    Median Sold Price:    $278,900

    This shows a couple of interesting details:

1. The average rate of sales is slightly better in Waldorf
2. This is likely due to the lower cost of homes in the 20602 Area Code
3. Although the 20774 Area Code is less expensive than the 20601 Area Code, It does not mean that Upper Marlboro is less Expensive than Waldorf, as noted by prices in the 20602 Area Code.

    Another potential means of comparison is through new construction.  If you were to look at a home built by Ryan Homes in the Brentwood Subdivision of Waldorf, MD.  You would find their base model starting at $320,000 (Was $330,000)  To have that exact model built in The Ridings at Upper Marlboro, it would be priced starting at $340,000.  The difference is less than 6%, but it IS a difference.

    Bear in mind this does not make Upper Marlboro or Waldorf "better" than the other.  Differences in commute times, amenities, and local features vary greatly.  Although there is a cost of living difference, I still think it comes down to a preference of location rather than price.

(Please note that the 20603 Area Code was not included because there was a spike in prices last month for some reason, and I am working to determine why this has occurred before I show abnormally skewed figures)

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St.
La Plata, MD 20646
301-653-8116
301-609-9000
http://www.teambenya.com