21539, Lonaconing, MD

The 21539 zip code of Lonaconing, MD has a median home value of $187,000 and a median home equity of $143,000. This is significantly lower than the Maryland state median home value of $269,500 and the national median home equity of $183,200. The majority of homes in the 21539 zip code are owner-occupied with 66% of homes being occupied by their owners. The average size of a home in the 21539 zip code is 2 bedrooms and 1 bathroom. Home prices have decreased significantly since 2000 when they were valued at $236,000. Inflation has played a significant role in this decrease with prices decreasing by an average of 7% annually over the past decade.

The primary drivers behind these decreases are likely attributable to several factors including: low demand for housing within the Lonaconing area; increased competition from surrounding areas; and limited availability due to zoning restrictions and other local factors. Despite these challenges, there is evidence that there is potential for price growth within this area as interest rates continue to decline and more people become eligible for mortgages. Additionally, recent improvements made to infrastructure within the 21539 zip code may provide some short-term stimulus for housing prices.