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Garrett Park

Learn about the people, housing, costs and businesses in Garrett Park, Maryland

Median Home$879,400
Median Rent$3,250/month
Population994
Leading IndustriesArts, Food & Hospitality · Healthcare · Professional Services33% arts, food & hospitality
Home Value Growth⬆⬆+16.3% over 2 years
Family-Friendly24% of residentsslightly above average
Homeowners94% of occupied units
NotableHigh Incomes$250k/year · top 1% nationally
NotableTransit97/100 · excellent transit access
Garrett Park
MD

Frequently Asked Questions

What are today's mortgage rates in Garrett Park?

As of today, the 30-year fixed mortgage rate for Garrett Park is approximately 6.900% (6.936% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Garrett Park?

The median home value in Garrett Park is $879k. The median monthly rent is $3,250. Annual property taxes average $7k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Garrett Park?

Home values in Garrett Park have increased 16.3% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Garrett Park?

Based on a typical all-in ownership cost of $2,964/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $127k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Garrett Park is $250k/year.

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What industries drive the economy in Garrett Park?

The largest employment sectors in Garrett Park are healthcare (33%) and arts, food, and hospitality (33%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.