New Market, MD
Population 1,588 · Maryland
About New Market, MD
New Market is a small community in Maryland with a population of 1,588 residents. The median household income is $198,080 per year, which is above the national average. The median age in New Market is 34 years.
Housing in New Market has a median home value of $607,700 and median monthly rent of $1,694. Of the 478 total housing units, the majority are owner-occupied, with 452 owner-occupied and 17 renter-occupied units.
The unemployment rate in New Market is 3.0% and the poverty rate is 0.9%. 69.0% of residents hold a bachelor's degree or higher. The average commute time is 33 minutes.
How New Market Ranks in Maryland
Cost of Living in New Market, MD
Compared to national averages, New Market has a median household income of $198,080 (164% above the national median of $75,149). Home values average $607,700, which is 148% above the national median. Monthly rent at $1,694 is 46% above the US average of $1,163. Within Maryland, New Market's income is 83% above the state average of $107,956, and home values are 51% above the state median of $402,447.
Why Live in New Market, MD?
New Market offers a strong local economy with a median household income of $198,080, well above the national average, and a strong job market with an unemployment rate of just 3.0%, and a well-educated community where 69.0% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 0.9%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $607,700. However, New Market’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Market has a population of 1,588 with a median age of 34 years. Compare New Market with other cities to see how it stacks up, or explore all cities in Maryland.
Similar Cities Near New Market
Cities in Maryland with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Naval Academy | 1,592 | $120,347 | $0 | Compare |
| Colmar Manor | 1,579 | $104,074 | $359,200 | Compare |
| Wilson-Conococheague | 1,614 | $60,258 | $225,300 | Compare |
| Mechanicsville | 1,521 | $115,556 | $425,500 | Compare |
| Ridgely | 1,685 | $64,432 | $236,000 | Compare |
| Arden on the Severn | 1,691 | $117,188 | $475,600 | Compare |
| Crownsville | 1,701 | $146,486 | $885,600 | Compare |
| Romancoke | 1,705 | $118,077 | $397,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Maryland
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about New Market
What is the population of New Market, MD?
The population of New Market, MD is 1,588 according to the latest Census data.
What is the median household income in New Market?
The median household income in New Market, MD is $198,080 per year.
What is the median home value in New Market?
The median home value in New Market, MD is $607,700.
What is the average rent in New Market?
The median monthly rent in New Market, MD is $1,694.
What is the unemployment rate in New Market?
The unemployment rate in New Market, MD is 3.0%.