Located just over an hour northwest of Washington DC, Frederick is one of the most noticeably changed areas in the local market over the past 20 years.

According to Zillow data, the median home price in Frederick was about $340,000 in early 2021, and it is estimated to have risen to around $460,000 by 2026. This translates to an approximate cumulative increase of about 35% over five years.

From 2021 to 2022, demand surged due to relatively affordable prices compared to nearby DC, leading to rapid price increases, while the second half of 2022 saw a slowdown in this upward trend due to rising interest rates. The buying momentum returned in 2023 and 2024, although the rate of increase has recently become somewhat more moderate.

When compared to the national average cumulative increase of about 38% over five years, Frederick's growth is similar or slightly lower, classifying it as a region with relatively significant price increases within the DC commuting area.

The factors behind this increase include relatively low entry prices compared to DC and Baltimore, redevelopment and expansion of commercial facilities in downtown Frederick, and increased demand for long-distance commuting due to the rise of remote work.

However, given that interest rates remain relatively high, it is prudent to watch whether the pace of increase will continue as it has in the past.

For Korean households, considering the accessibility to DC and relatively reasonable price ranges, Frederick remains an area of interest, but realistic considerations regarding commuting times are also necessary.

Having observed this area for a long time, I cautiously believe that Frederick is likely to continue to be a viable alternative within the DC commuting zone.