20622, Charlotte Hall, MD

The 20622 zip code of Charlotte Hall, MD has a median home value of $128,000 and a median home equity value of $111,000. This is higher than the Maryland state median home value of $119,500 and the national median home value of $177,200. The 20622 zip code also has a lower than average percentage of homeowners with negative equity (less than 20% of homes have less than 20% equity) at only 5%. This indicates that there are many homeowners in the 20622 zip code who are able to use their homes as collateral for loans or other investments.

One reason why the 20622 zip code has a high median home value and home equity is because it is located in one of the most affluent areas in Maryland. The majority (60%) of households in the 20622 zip code earn over $75,000 per year, which is above the state average (51%) and national average (63%). Additionally, there are many large businesses located in and around Charlotte Hall, which contributes to its high income levels. These businesses may be able to afford to pay higher wages which leads to increased income for residents in the area. In addition, there are also a number of luxury homes available for purchase in this area which can also contribute to its high home values.