20736, Owings, MD

The 20736 zip code of Owings, MD has a median home value of $221,000. This is higher than the Maryland median home value of $178,500. The 20736 zip code also has a high home equity percentage of 78%. This means that the majority of homes in this zip code are worth more than their original purchase price.

The main drivers of home equity in this area are likely the high incomes and low unemployment rates. The average household income in this zip code is $101,000, which is above the Maryland average of $78,700. Additionally, there are only 2.5% unemployment rates in Owings compared to 3% statewide. These factors contribute to a high demand for housing and an increased value for homes in this area.

Despite these positive trends, there are some potential risks to consider when buying or selling a home in Owings. One potential issue is that the local economy may not continue to grow as rapidly as it has recently been doing. If incomes decrease or employment decreases, then homeownership values could potentially decline as well. Another risk is that interest rates could rise over time and cause borrowers to face greater debt payments on their mortgages or other loans associated with purchasing or selling a home.