20816, Bethesda, MD

The 20816 zip code of Bethesda, MD has a median home value of $1,078,000. This is significantly higher than the Maryland state median home value of $178,500. The 20816 zip code also has a high concentration of wealthy households with a median household income of over $200,000. This high income level is likely due to the presence of many prestigious universities in the area such as Johns Hopkins University and The George Washington University.

Despite this high concentration of wealth, there are still many homeowners in the 20816 zip code who are struggling to make their mortgage payments. In fact, over 25% of homeowners in this zip code are currently delinquent on their mortgages. This high delinquency rate may be due to the increasing cost of housing in the area or the fact that many homeowners are using their homes as investment vehicles rather than living in them full-time.

Despite these challenges, there is evidence that home prices in the 20816 zip code are slowly but surely increasing. Over the past five years, home values have increased by an average of 2%. This increase may be due to several factors such as low interest rates and increased demand for property in Bethesda due to its prestige location.