21702, Frederick, MD

The 21702 zip code of Frederick, MD is located in central Maryland and has a population of around 100,000. The median home value in this zip code is $262,500 which is significantly higher than the national median home value of $181,600. This high home value is likely due to the presence of prestigious universities such as Johns Hopkins University and the University of Maryland-College Park within the zip code. Additionally, Frederick has a high rate of homeownership which contributes to its high home values.

Despite the high home values in this zip code, there have been some recent trends that suggest that prices may be beginning to decline. For example, according to Zillow’s Home Value Index data from January 2018, the average home value in this zip code was down 0.5% from December 2017. Additionally, according to Trulia’s December 2018 data, the average price per square foot for homes in this zip code was down 2% from December 2017. These declines may be indicative of a broader trend across much of Maryland where prices are gradually decreasing due to increased competition from other areas within the state as well as nationwide factors such as low interest rates and increasing inventory levels. However, it remains unclear whether or not prices will continue to decline or if they will eventually stabilize at their current elevated levels.