MD
Takoma Park
$1,053,627
$749,500
58
24,119
The History and Character of Takoma Park
The story of Takoma Park began in 1883 when developer Benjamin Franklin Gilbert established one of the first planned railroad-accessible commuter suburbs of Washington, D.C. Gilbert envisioned a "sylvan suburb," a healthful retreat from the capital city, strategically situated at a higher elevation to avoid the malaria and mosquitoes prevalent in D.C. at the time. The name "Takoma," suggested by an early resident, was believed to mean "high up" or "near heaven," reflecting this vision of a lofty, healthy community.
The early architectural fabric of the town was defined by the popular styles of the late 19th and early 20th centuries, with fanciful Victorian, Queen Anne, Stick, and Shingle style homes lining the newly laid-out streets. This rich architectural heritage has been carefully preserved, and today, Takoma Park constitutes the largest historic district in Montgomery County.
In the mid-20th century, Takoma Park’s character was forged by a pivotal moment of civic activism. In the 1960s, residents successfully organized to halt the construction of a proposed federal highway that would have cut through the community's historic neighborhoods. This victory did more than just preserve the city's charming, walkable street grid; it solidified a population of civically engaged individuals who valued community preservation over unchecked development. This event cemented the city's reputation for political activism, earning it enduring nicknames like "The Berkeley of the East." This legacy of engagement continues to define the city's character, which is now a distinctive blend of historic preservation, progressive values, cultural diversity, and a deeply ingrained community spirit that attracts artists, academics, writers, and activists.
Socio-Economic & Demographic Data
Socio-Economic and Demographic Profile
Bethesda is one of the most affluent and highly educated communities in the Washington, D.C. metro area. The town is home to approximately 80,000 residents, with a median household income near $190,000—nearly double the Maryland state average. Roughly 85% of adults hold a bachelor’s degree or higher, and 25% of residents are foreign-born, giving Bethesda a cosmopolitan, internationally connected character.
The town’s economic profile is equally impressive. Bethesda boasts a robust white-collar job market, hosting the headquarters of Fortune 500 companies like Lockheed Martin and Marriott International, alongside numerous consulting, biotech, and financial services firms. Bethesda's economy is largely shaped by major employers like the federal government and healthcare research. The National Institutes of Health (NIH) and Walter Reed National Military Medical Center are key institutions, employing thousands and cementing Bethesda's role as a national center for healthcare and biomedical research.
Bethesda, MD, thrives economically due to its location in Montgomery County's "BioTech and BioHealth" corridor, a major biohealth cluster. Many residents commute to Washington, D.C. or Northern Virginia for federal, contracting, and tech jobs. Downtown Bethesda also boasts a strong hospitality and retail sector. This diverse economy, concentrated in government, healthcare, defense, technology, and professional services, contributes to low unemployment and high median incomes, ensuring community stability and prosperity.
HOUSING TYPES
The housing stock in Bethesda serves as a physical timeline of its history, offering a rich diversity of architectural styles that reflect its different eras of growth. The earliest waves of suburbanization are represented by charming early 20th-century homes, including classic Colonial and Tudor Revivals found in established neighborhoods like Greenwich Forest and Woodhaven. The post-World War II boom, driven by the arrival of major federal employers, is visible in the many mid-century ramblers, Cape Cods, and split-level homes that characterize neighborhoods such as Wyngate.
The modern era of urbanization, which accelerated with the arrival of the Metro, is most evident in the downtown core. Here, the market features an extensive inventory of luxury high-rise condominiums, such as The Edgemoor and Lionsgate, as well as upscale townhouse communities. This blend of historic single-family homes on quiet, tree-lined streets and contemporary, high-density options in the urban center provides a wide range of living experiences.
MARKET STATISTICS
Bethesda's real estate market is highly competitive and valuable, driven by a strong economy, excellent schools, and abundant amenities. High demand and limited supply lead to quick sales, often above list price, with a Redfin Compete Score of 81/100.
This intense market pressure is reflected in property values. The median sale price for a single-family home is approximately $1.6 million, while the median for a townhouse is around $1.3 million. The condominium market is varied, with a median sale price for standard units around $430,000, while new luxury condominium buildings command median prices upwards of $1.42 million.
A key indicator of the market's trajectory is the changing nature of affordability. The intense and sustained demand has significantly raised the entry point into the market. Between 2019 and 2024, the number of homes sold for under $1 million fell by a remarkable 85%. This demonstrates that the market is not just appreciating in value but is also becoming more concentrated in the upper brackets, fundamentally reshaping its composition toward the luxury segment.
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Highly-Regarded Public Schools
The quality of local schools is a foundational element of Bethesda's community identity and a primary driver of its real estate market. The area is served by several of the most acclaimed public schools in the state and the nation. Among its high schools, Walt Whitman High School (pictured to the right) is ranked by Niche.com as the #2 best public high school in Maryland, with Walter Johnson High School ranked #7 and Bethesda-Chevy Chase High School ranked #9, all receiving A+ ratings.
The middle and elementary schools that feed into these high schools are similarly distinguished. Middle schools like Thomas W. Pyle, North Bethesda, and Westland are consistently ranked among the top in the state. At the elementary level, schools such as Bannockburn, Bradley Hills, Wood Acres, Wyngate, and Somerset are recognized for their top-tier academic performance. This sustained record of educational excellence creates a powerful draw for families, who are often willing to pay a premium for homes located within the attendance boundaries of these highly sought-after schools. See the Montgomery County Public Schools (MCPS) website to get more information about registration.
Top Private Schools in the U.S.
In addition to public schools, Bethesda hosts a number of elite private schools. Landon School (an independent boys’ school) and Holton-Arms School (an independent girls’ school) are both located in Bethesda and are among the top private schools in the region, known for rigorous academics and extensive alumni networks. Other notable private institutions accessible to Bethesda residents include Stone Ridge School of the Sacred Heart (Catholic, girls), Sidwell Friends School (which has a lower school campus in Bethesda), and the Mater Dei School (an all-boys Catholic school for grades 1-8.).
(Image source: RRMM.com)
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LISTINGS
2 Beds1 Bath756 SqFt1/20 20New
1 Bed1 Bath7,510 Sqft Lot1/5 5New$1,213
8318 ROANOKE AVE #4, Takoma Park, MD 20912
MLS# MDMC2211588
Listed by Goldberg Group Real Estate
2 Beds2 Baths1,200 SqFt1/37 37New$2,400
7333 NEW HAMPSHIRE AVE #510 S, Takoma Park, MD 20912
MLS# MDMC2211530
Listed by Keller Williams Capital Properties
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