Willowbrook Valuation has extensive experience working with commercial real estate clients throughout the mid-Atlantic region, and our team is active across the Baltimore and DC area. Throughout the year, we’ve published several blog posts covering the hottest activity in the submarkets we are most active in. Laurel, MD, is a particularly interesting Maryland submarket, situated roughly halfway between Baltimore and Washington DC.
Life in Laurel, MD
A look at the historical population of Laurel MD paints the full picture of rapid growth the town has witnessed since the beginning of the millennium. In the last decade alone, the population of the city has grown by nearly 20% to just over 30,000 where it currently sits. So, what is drawing new residents to the city of Laurel?
As we highlighted earlier, Laurel is situated 20 miles from both DC and Baltimore. That means that professional couples with ties in each city will have the ability to drive between them in less than an hour. If driving isn’t an option, Laurel is still a fantastic option for commuters. The Laurel MARC train station allows commuters to travel between DC and Baltimore affordably and with ease.
Speaking of affordability, that is another major draw for new residents to Laurel, MD. The ability to seek employment in DC without the high cost of living creates a very promising living situation for many of the newcomers to the area.
Laurel is More than a Commuter’s Town
While Laurel is situated nearly perfectly between DC and Baltimore, we felt the need to note that the city is known for more than simply housing commuters. Laurel is home to Fort Meade as well as the National Business Parkway, a stretch that is home to many contracted government entities adjacent to Fort Meade. These major economic influences combined with the vast array of employment oppurtunities in the area situates the median income of the city at just over $100,000.
Emerging Real Estate Opportunities in the Laurel Area
An influx of commuters and nearby workers seeking both affordable higher end living arrangements highlights two emerging commercial real estate opportunities in Laurel: housing and recreation. A drive through Laurel will reveal various new construction in multi-family housing units to accommodate for these individuals. Of course, they’ll also need spaces to reenergize on weeknights and weekends. Laurel’s nightlife continues to improve, with casual restaurants featuring a variety of cuisine options popping up along Main St and its side roads.
Partner with Willowbrook Valuation & Advisory Services for Expert Investment Assistance
At Willowbrook Valuation & Advisory Services, we are a leader in trusted insight, cutting-edge innovation and customer service. We offer exceptional litigation support to assist clients with insurance valuation, arbitration and consulting, property tax services, and expert testimony. To learn more about our valuation, counseling, or litigation services, please contact us at (202) 919-3888.