In our last blog, we looked at real estate trends occurring in Eastern Baltimore County. This time, we’re mixing it up and focusing on another promising area in the state of Maryland: Gaithersburg. Gaithersburg is part of the Washington metro area, southwest of Baltimore’s metropolitan area.
The District of Columbia has a very large draw for employment as the nation’s capital. While the job market and culture continuously thrive, there are a few notable drawbacks that keep many individuals from calling it their home. The high cost of living and seemingly endless amounts of rush hour traffic leave many individuals in the DC area looking for somewhere else nearby to reside. Many people in this situation choose to live in Gaithersburg, MD.
A commuting time to DC of roughly 30 minutes by car and access to Metro (subway) and a commuter rail line make Gaithersburg the perfect home for those who want the opportunities DC presents while still enjoying a quieter suburban environment at the end of the day.
The city is situated along the north/ south running Interstate 270, between Rockville and Germantown. Gaithersburg often sticks out as a favorite for multi-family housing simply because of the balance between housing prices and distance from Washington DC. While commuting times are lower in cities like Rockville and Bethesda, rents rise with proximity to the city. Conversely, Frederick (the northmost point of I-270) offers more affordable housing rates, but commuting times also jump up to a full hour. As you can see, Gaithersburg strikes the happy medium as a prime location for multi-family housing.
The proximity of Gaithersburg to the nation’s capital and highway/rail transit access is the perfect recipe for a thriving town. Old Town Gaithersburg lies near a thriving technological and biotechnological hub, while the south and western flanks are well established with over 500 farms in the vicinity. When you add in the fact that several important health institutes and company headquarters are situated in Gaithersburg, it becomes quite clear that its appeal as a bedroom community will remain a draw for the town in the coming years.
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