20895, Kensington, MD

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. Home prices are the price at which homes are sold in an area. Kensington, MD has a median home value of $269,200 and a median mortgage value of $187,000. This means that homeowners in the 20895 zip code have a home equity of $118,600.

The average length of time it takes for homeowners to pay off their mortgages is around 25 years. Therefore, approximately 68% of homeowners in the 20895 zip code have paid off their mortgages completely. Additionally, approximately 24% of homeowners still have some remaining mortgage debt. This suggests that there is still potential for growth in this area's home values over the next few years.