Similar to its surrounding areas, it's substantially more expensive compared to the rest of the country. However it is somewhat less expensive compared to the city of Washington.
Home prices
The median home in Silver Spring is valued at $516,900. It is roughly $12,240 (2%) lower compared to nearby areas.It is approximately $299,400 (137%) higher compared to the entire nation, and is approximately $84,600 (14%) lower in comparison to the city of Washington.
Rents
The median rent in Silver Spring is $1,665 a month. It is approximately $283 (14%) lower compared to nearby areas.It is about $603 (56%) higher in comparison to the country as a whole, and is roughly $124 (8%) higher compared to the city of Washington.
Nearby places
Four Corners
Four Corners is Silver Spring's neighbor to the north. Real estate prices there are a bit less expensive. Four Corners's median home price is $470,700, which works out to $46,200 (9%) lower than Silver Spring. Its rents are somewhat more expensive. Four Corners's median rent is $2,229 a month, which is $564 (25%) higher than Silver Spring.
Forest Glen
Forest Glen is Silver Spring's neighbor to the northwest. Housing prices there are somewhat less expensive. The median home cost in Forest Glen is $461,500, which comes out to $55,400 (12%) lower than Silver Spring. The rent there is a little less expensive. The median monthly rent in Forest Glen is $1,550, which is $115 (7%) lower than Silver Spring.
Takoma Park
Takoma Park is Silver Spring's neighbor to the southeast. Its real estate prices are somewhat more expensive. The value of the median home in Takoma Park is $583,800, which is $66,900 (11%) higher than Silver Spring. Rents there are significantly less expensive. Takoma Park's median rent is $1,143 per month, which comes out to $522 (45%) lower than Silver Spring.
Langley Park
Langley Park is Silver Spring's neighbor to the southeast. Its real estate prices are a lot less expensive. The value of the median home in Langley Park is $269,400, which is $247,500 (91%) lower than Silver Spring. Rents there are a little less expensive. The median rent in Langley Park is $1,403 per month, which is $262 (18%) lower than Silver Spring.
North Chevy Chase
North Chevy Chase is roughly 2 miles west of Silver Spring. Its housing prices are substantially more expensive. The price of the median home in North Chevy Chase is $860,300, which comes out to $343,400 (39%) higher than Silver Spring. Its rents are significantly more expensive. North Chevy Chase's median rent is $3,417 per month, which is $1,752 (51%) higher than Silver Spring.
