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Preston

Learn about the people, housing, costs and businesses in Preston, Maryland

Median Home$276,000
Median Rent$1,381/month
Population683
Leading IndustriesEducation · Wholesale Trade · Construction4% education
Home Value Growth⬆⬆+18.9% over 2 years
Family-Friendly24% of residentsslightly above average
Homeowners81% of occupied units
Preston
MD

Frequently Asked Questions

What are today's mortgage rates in Preston?

As of today, the 30-year fixed mortgage rate for Preston is approximately 6.941% (6.979% 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 Preston?

The median home value in Preston is $276k. The median monthly rent is $1,381. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Preston?

Home values in Preston have increased 18.9% 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 Preston?

Based on a typical all-in ownership cost of $1,323/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $57k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Preston is $82k/year.

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What industries drive the economy in Preston?

The largest employment sectors in Preston are public administration (20%) and wholesale trade (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.