21660, Ridgely, MD

Ridgely, MD is located in Baltimore County and has a population of just over 10,000. The median household income is just over $60,000 and the median home value is just over $200,000. Ridgely is a relatively affluent community and there are a number of factors that contribute to this. First, Ridgely is located in one of the most desirable areas of Baltimore County. Second, Ridgely has a strong economy with many businesses located in the area. Finally, the residents of Ridgely are generally well-educated and have money to invest in homes.

One reason why home values have been so high in the 21660 zip code is that there are very few homes for sale compared to other parts of Baltimore County. In fact, only 2% of all homes in the zip code are for sale compared to 11% across all of Baltimore County. This means that buyers have plenty of choice when it comes to where they want to live and buy a home. Additionally, many homeowners in the 21660 zip code have taken advantage of low interest rates by refinancing their mortgages multiple times over the past few years. As a result, homeownership rates in the 21660 zip code are above average compared to other parts of Baltimore County.

Despite these positive factors, there are some challenges facing homeowners in the 21660 zip code right now. One issue is that interest rates are expected to rise soon which will make it more expensive for people to borrow money for mortgages or buy houses outright. Another issue is that prices may not continue rising indefinitely as some people believe they will due to increasing demand from foreign investors who see Maryland as a good place to invest money due to its low taxes and regulations