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City Report · MD

New Market

Pop. 1,603·14th most expensive in Maryland·One of the pricier rental markets in the US
Median rent (all units)
$2,544/mo
Year-over-Year
-0.8%
Month-over-Month
+3.2%
vs US Median
+$579
Rising (Monthly)
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Most AffordableMost Expensive
New Market · $2,544
More expensive than 81% of US cities · National median $1,965/mo
Affordability
15% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $2,544/mo, rent takes about 15% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$102,000/yr
Local median income
$202,872/yr
Based on the 30%-of-income rule using New Market's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$2,530
1 BR
$2,590
2 BR
$2,910
3 BR
$3,640
4 BR+
$4,290
Research median
$2,910/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$30,528/yr
At $2,544/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (-0.8% YoY, +3.2% MoM), not inventory.
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Demographics

Who lives here

New Market, MD is majority owner-occupied, has a large share of families with children, has a median income above the national average, 64.3% of residents hold a bachelor's degree or higher.

Population
1,603
Median income
$202,872
Median age
36
Renters
3.4%
Age distribution
36.1%
12.7%
34.1%
Under 1836.1%
18–3412.7%
35–5434.1%
55–648.1%
65+9.1%
Gender
52.4%
47.6%
Male52.4%
Female47.6%
Race & ethnicity
80.5%
White80.5%
Black5.6%
Hispanic4.8%
Asian1.7%
Other7.4%
Education (25+)
16.3%
19.3%
64.3%
HS diploma16.3%
Some college19.3%
Bachelor's+64.3%
Housing tenure
96.6%
Owner96.6%
Renter3.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How New Market, MD has changed in 5 years

Income
$175,982 → $202,872
up 15.3%
Population
1,598 → 1,603
up 0.3%
Renter share
8.5% → 3.4%
-5.1 pts
Bachelor's+
70.1% → 64.3%
-5.8 pts

Household income in the area moved from $175,982 to $202,872 across the same window, up 15.3% versus 2021. The renter share has eased from 8.5% to 3.4%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 70.1% to 64.3% across the same window.

Community

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View New Market rent history (2015–2026) →
Salary vs rent

Can you afford rent in New Market on your salary?

At $2,544/mo, how New Market rent compares to typical pay (30% rule).

By apartment size

New Market rent by bedroom count

Median rent for each apartment size in New Market. Click any size for full breakdown.

Local insights

Tips for renters in New Market

About renting in New Market, MD

Last updated: July 20, 2026

The median rent in New Market is $2,544/mo as of July 2026. A studio apartment averages $2,530/mo while a 2-bedroom runs $2,910/mo. One-bedroom apartments average $2,590/mo and 3-bedroom units go for $3,640/mo.

At 15% of local median household income ($202,872/yr), New Market ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.8% over the past year.

FAQ

Frequently asked questions

Is New Market an affordable city for renters?

New Market is considered very affordable for renters. At $2,544/mo, rent takes approximately 15% of the local median household income ($202,872/yr). The standard benchmark is 30%. New Market falls comfortably within that range.

How much income do you need to rent in New Market?

To keep rent at or below 30% of gross income, you would need to earn at least $102,000/year (~$49/hour full-time) to afford the median rent of $2,544/mo in New Market. The local median household income is $202,872/yr, meaning the typical New Market household meets that threshold.

Is rent going up or down in New Market?

Rent in New Market has decreased 0.8% over the past year as of July 2026, offering some relief compared to 12 months ago.

How does New Market rent compare to other cities in Maryland?

New Market is one of the pricier cities in Maryland for rent, ranking #14 out of 95 tracked cities at $2,544/mo.

Which nearby cities are cheaper to rent in than New Market?

Several nearby cities have lower median rents than New Market ($2,544/mo): Germantown ($2,137/mo), Gaithersburg ($2,187/mo), Frederick ($2,205/mo).

What percentage of New Market residents rent vs. own?

According to Census data, approximately 3.4% of New Market households are renters, while 96.6% are owner-occupied. New Market leans toward homeownership, which can mean a smaller rental inventory.

How does New Market rent compare to the national average?

New Market's median rent of $2,544/mo is $579 (29%) above the US national median of $1,965/mo. Within Maryland, it ranks #14 out of 95 tracked cities.
Income Affordability
15%
VERY AFFORDABLE

At $2,544/mo, rent takes ~15% of New Market's median household income ($202,872/yr). The standard benchmark is 30%.

New Market 15%Benchmark 30%
State income tax2–5.75%
Run the New Market affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near New Market, MD

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