20842, Dickerson, MD

Dickerson, MD is located in the Baltimore-Washington Metropolitan Area and has a population of approximately 25,000. The 20842 zip code has a median home value of $151,000 and a median household income of $75,000. Dickerson's home equity and home prices are both relatively high when compared to other areas in the Baltimore-Washington Metropolitan Area.

The average monthly mortgage payment for homes in the 20842 zip code is $1,868. This is lower than the national average mortgage payment of $2,669 but higher than the median monthly mortgage payment for Maryland of $1,637. The average home value in Dickerson is also higher than the statewide average home value of Maryland ($149,700) and the national average home value ($153,400).

There are several factors that may contribute to Dickerson's high home equity and home prices. First, Dickerson has a low unemployment rate (3%) which may lead to more affluent residents purchasing homes. Second, there are few vacant homes available in Dickerson which may lead to increased demand for housing stock and an increase in home values. Third, Dickerson's proximity to Washington D.C., Baltimore City and Annapolis may attract wealthier residents who want to live close to major metropolitan areas. Fourth, Dickerson has a low foreclosure rate (0%) which may indicate that there is strong demand for housing stock in this area. Fifth, Dickerson's schools are generally rated as good or excellent by parents which may contribute to increased demand for homes within this community.