20904, Silver Spring, MD

Home Equity and Home Prices in the 20904 Zip Code of Silver Spring, MD

The 20904 zip code of Silver Spring, MD has a median home value of $269,000. This is higher than the Maryland median home value of $216,500. The majority (83%) of homes in this zip code are owned by individuals. The average length of time that homes have been on the market is 97 days. There are a total of 1,871 active listings in this zip code as of February 2019. The average list price per square foot is $152 which is lower than the Maryland average list price per square foot ($186).

The majority (83%) of homes in this zip code are owner-occupied while 17% are rented. As a result, home prices here tend to be higher than the Maryland median home value which is 66% owner-occupied and 34% rented. Additionally, there are a smaller number (1%)of vacant properties in this zip code as opposed to the Maryland percentage (5%).

There has been an increase in home equity for homeowners over the past five years with an increase from $252K to $269K (+16%). Additionally, there has been an increase in home prices from 2016-2018 (+7%), 2017-2019 (+10%), and 2018-2020 (+11%). However, there was a decrease from 2019-2020 (-4%).

Based on these statistics it can be inferred that homeownership rates and house values have increased significantly within this 20904 zip code since 2012 while rental rates have remained relatively stable over that same period.