Real Estate Investing in Salisbury, Maryland (21804)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 21804 (Salisbury, MD)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.2% vacancy may signal weakening demand.
What’s happening in Salisbury, MD (21804)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 21804 Salisbury
ZIP 21804 inside Wicomico County looks affordable on the surface — median value of $251K — but the discount exists for reasons that a careful buyer should understand before committing.
The 21804 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within MD, ZIP 21804 trails on several market indicators that neighboring Wicomico County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
The demographic picture in 21804 includes headwinds that any investor should price in. Income distribution skews lower than Salisbury averages, and tenant stability requires active management.
Experienced landlords with local relationships tend to find 21804 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Salisbury:
Property Strategy for 21804
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $126,566 | $1,150 | 6.5% | +7.7% | $126,566 |
| 2BR | $175,348 | $1,490 | 6.1% | +10.0% | $87,674 |
| 3BR | $255,539 | $1,970 | 5.6% | +8.6% | $85,180 |
| 4BR | $324,585 | $1,980 | 4.4% | +8.2% | $81,146 |
| 5BR | $421,798 | — | — | +7.8% | $84,360 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 21804 Compare?
| Metric | 21804 | Salisbury | Salisbury, MD-DE | Maryland |
|---|---|---|---|---|
| Home Value | $251,496 | $136,290 | N/A | $424,997 |
| 5-Year CAGR | 5.2% | 5.3% | N/A | 4.9% |
| Avg Rent | $1,609 | $1,569 | N/A | - |
| Cap Rate | 5.0% | 4.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 21804 (Salisbury, MD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $251,496 |
| Monthly Rent | $1,609 |
| Price-to-Rent | 13.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.7% |
| Cap Rate | 5.0% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +1.7% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 Rent Trends
| 1-Year | -4.8% ▼ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 21804
Population: 39,461
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 21804
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 669 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are there empty rentals in Salisbury, MD?
Salisbury, MD carries elevated vacancy risk. Expect stable absorption at market rents of $1,609/mo.
What do rentals go for in Salisbury, MD?
Salisbury, MD rentals go for roughly $1,609/mo a month. That puts gross yield in solid territory relative to $251K acquisition costs.
What is it like being a landlord in Salisbury, MD?
The landlord environment in Salisbury, MD is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Does a duplex house hack pencil in Salisbury, MD?
House hacking works a challenging in Salisbury, MD. Rents of $1,609/mo against $251K acquisition make the strategy solid for owner-occupants.
What kind of market is Salisbury, MD for investors?
Salisbury, MD scores 3.0/5 for investability. Home values sit at $251K and rents near $1,609/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 21804 now. You don’t know where it ranks.
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How 21804 ranks in Salisbury, MD-DE
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