21740, Hagerstown, MD

The 21740 zip code of Hagerstown, MD has a median home value of $128,000 and a median home equity value of $104,000. This is higher than the Maryland median home value of $119,500 and the national median home equity value of $81,600. The 21740 zip code also has a lower than average percentage of homeowners with negative equity (less than 20% of homes have less than 20% equity) at just 5%. This is lower than the Maryland percentage of 10% and the national percentage of 14%.

There are several factors that may contribute to this high level of home equity in the 21740 zip code. First, Hagerstown is a relatively affluent area with a high rate of household income. Second, there are relatively few homeowners who have taken on large amounts of debt to purchase their homes. Third, there is a low rate of foreclosure activity in this zip code which may help to protect homeowners' investments. Finally, Hagerstown residents may be more likely to have access to favorable financing options such as mortgages or HELOCs (home improvement loans).

Despite these positive factors, there are some indications that the market for housing in the 21740 zip code may be beginning to slow down. For example, while there was an increase in home values from 2010-2015 (an average annual increase rateof 6%), values have since decreased by 2% in 2016 and by 3% so far in 2017. Additionally, while mortgage rates remain relatively low compared to historical averages (currently at 4%), they could begin to rise over time if demand for housing decreases further or if interest rates rise above historically low levels.