21550, Oakland, MD

The 21550 zip code of Oakland, MD has a median home value of $247,000 and a median home equity value of $130,000. The average home price in this zip code has increased by 5.8% over the past year. This is significantly higher than the national average increase of 2.4%. The majority of homes in this zip code are owned by individuals or couples who have been living in their homes for more than five years. There is also a high concentration of owner-occupied homes in this area, which suggests that people are confident in the local economy and are not looking to sell their homes anytime soon.

Despite the strong market conditions, there are still some areas within the 21550 zip code where prices are lower than average. For example, there is a greater concentration of rental properties in this area which may be indicative of weaker demand or an overall slower economy. Additionally, there is a greater number of foreclosure properties within this zip code which may indicate that housing values have not yet recovered from the recessionary period that began in 2008. Despite these challenges, overall prices continue to rise and suggest that Oakland residents remain confident about their long-term prospects for housing prices.