21817, Crisfield, MD

Crisfield, MD is located in Harford County and has a population of just over 10,000. The 21817 zip code has a median household income of $85,000 and a median home value of $213,500. Home equity in Crisfield is high compared to the rest of Maryland. In fact, the home equity in Crisfield is more than triple the statewide median home equity of $101,200. This high level of home equity may be due to the strong economy and low interest rates in Crisfield.

The average mortgage rate in Crisfield is 3.92%, which is lower than the statewide average mortgage rate of 4.94%. This low interest rate may be contributing to the high level of home equity in Crisfield. Additionally, there are relatively few foreclosures or short sales in Crisfield which may also contribute to the high level of home equity.

Despite these factors, there are some risks associated with having too much home equity. If interest rates rise or if there are any other economic setbacks that reduce homeowners' incomes, homeowners could find it difficult to pay their mortgages and lose their homes. Additionally, if someone wants to buy a house in Crisfield but cannot afford the current market price, they may be unable to do so even if they have good credit and adequate down payment funds.