21082, Hydes, MD

The 21082 zip code of Hydes, MD has a median home value of $191,000 and a median home equity of $116,000. This is higher than the Maryland state median home value of $146,500 and the national median home value of $177,200. The majority (84%) of homes in the 21082 zip code are owner-occupied while 16% are occupied by renters. Home values have increased by 5% since 2013 and are projected to increase by an additional 4% over the next five years.

The primary driver of home equity growth in the 21082 zip code is appreciation (or inflation-adjusted growth). Over the past five years, average annual appreciation has been 6%. This means that homeowners have seen their homes' value increase by 6% each year on average – even when inflation is taken into account. In addition to appreciation, another factor contributing to home equity growth in this area is low interest rates. As long as interest rates remain low, homeowners will continue to see their equity grow over time as their mortgages pay off more quickly than they would if interest rates were higher.

Despite these positive trends, there are some potential risks associated with owning a home in the 21082 zip code. One such risk is that a housing market crash could lead to decreased demand for homes in this area and decreased prices – which could lead to homeowners losing some or all of their equity investments. Another potential risk is that rising taxes or insurance premiums could cause homeowners' monthly payments on their mortgages to increase significantly over time. However, overall it appears that most homeowners in the 21082 zip code are enjoying strong levels of both home equity and house prices – which suggests that these risks are relatively minor compared to other financial considerations such as retirement planning or paying off debt obligations.