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Allegany County, MD

RANK #282 / 996  ·  POP 68,161  ·  MD

PROJECTED GROWTH: +1.6%

Allegany County combines solid growth with real affordability — a rare combination.

[01] Why Allegany County?

The Western Maryland Scenic Railroad, departing from Cumberland, offers a distinctive experience, traversing valleys and historic towns with views of the Allegheny Mountains. Allegany County, often called "Mountain Maryland," is located in the western part of the state, approximately two hours from Baltimore and Washington, D.C.. This makes it an option for those seeking a quieter lifestyle within reach of major metropolitan areas, with easy commuter traffic. The community offers a relaxed, community-focused atmosphere with a strong appreciation for its natural beauty and heritage. The county boasts over 70,000 acres of public land, including five state parks and forests, and the C&O Canal National Historical Park, providing extensive opportunities for hiking, biking, and water sports.

Life in Allegany County is characterized by a lower cost of living and a focus on outdoor recreation. The area attracts a mix of residents, including families and retirees, drawn to its walkable urban cores like Cumberland and Frostburg, and its rural properties. Allegany County Public Schools serve the area, and Frostburg State University provides higher education opportunities. The economy is diverse, with healthcare, education, and advanced manufacturing as key sectors. Recent economic developments include investments in technology-based business parks and initiatives to support environmentally focused innovation.

[02] Market Snapshot

Housing Ratio
3.5x

Undervalued relative to economy

GDP Growth
+1.9%

Below national median

Home Prices
+4.0%

Outpacing national median

Climate & Terrain
1.3

Moderate climate & terrain

Price/Rent
12x

Strong rental yield

Housing looks undervalued at 3.5x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Allegany County U.S. National

The Numbers

DEMOGRAPHICS
Population
68,161
-0.76% YoY
Median Household Income
$55,248
Median Home Value
$143,300
+3.96% 12mo
Median Rent
$743
Average Annual Pay
$51,777
+5.7% YoY
Employment
26,680
+0.1% YoY
Income-to-Home-Value
0.3855
More affordable than average
Migration Inflow
3.08%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$167,450
Days on Market
93
Slower market
Months of Supply
4.8
Balanced market
Sale-to-List Ratio
94.1%
Negotiation room for buyers
Sold Above List
17.4%
Listings w/ Price Drops
24.2%
Building Permits (2024)
59
Single-Family Permits
29

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$330M
TOTAL
PROJECT AMOUNT STATUS
Dan's Mountain Wind Project
Clearway Energy Group
$180M Completed
FedEx Ground Distribution Center
FedEx Ground
$50M Operating
Kingspan Roofing + Waterproofing Manufacturing Facility
Kingspan Group
$50M Under Construction
Allegany County Housing Development (D.R. Horton)
D.R. Horton
$50M Under Construction

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +1.9% 32 percentile
Population Growth -0.8% 6 percentile
Income Growth +8.1% 40 percentile
Vacancy Rate 1.5% 22 percentile
Home Price Change +4.0% 82 percentile
Rent Growth +5.1% 81 percentile
Price/Rent 12x 72 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Allegany County, MD a good place to move to?

Allegany County has a Boom Town Index score of 72/100, ranking #282 among 996 U.S. counties. With job growth at +0.1% and a median household income of $55,248, it's an above-average county on economic indicators.

Is Allegany County affordable?

The median home value in Allegany County is $143,300 with median rent at $743/month. The income-to-home-value ratio is 0.3855, which is more affordable than the national average.

Is Allegany County growing or shrinking?

Population growth: -0.8% year-over-year. Job growth: +0.1%. Home values changed +4.0% in the past 12 months.

Are people moving to Allegany County?

Yes — 3.08% of Allegany County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Jefferson County, WI 82 Chippewa County, WI 82 Cass County, MO 82 Cumberland County, NJ 82 Cuyahoga County, OH 82 Clinton County, NY 82 York County, PA 82 Etowah County, AL 82