21651, Millington, MD

Home Equity and Home Prices in the 21651 Zip Code of Millington, MD

Millington is a suburban community located in Prince George's County, Maryland. The zip code 21651 has a population of approximately 97,000 people and an average home value of $269,200.

The average home value in the zip code 21651 increased by 7.5% from 2015 to 2016. This increase was primarily due to an increase in the number of homes sold (up 9%) as well as an increase in the average home value (up 8%).

Over the past five years, the average home value has increased by 18%. This trend is likely to continue as there are currently more homes available for sale than there are buyers interested in purchasing them.

The majority of homeowners (68%) have equity in their homes that they can use to finance other needs or expenses. Additionally, 31% of homeowners have enough equity to cover all or most of their current monthly mortgage payments.

This indicates that homeownership is becoming more prevalent and accessible for residents within the 21651 zip code. Additionally, it shows that many homeowners are able to maintain their current standard of living while still having some equity remaining in their homes.