20850 Zip Code's October First-Time Homebuyer Report

The 20850 zip code is older than the rest of Maryland, with a median age of 39. It's very affluent as well, with a median income of $106,927 per household. The 20850 zip code market is mostly made up of condos and townhouses, which currently account for 37% of the homes for sale in the area. Leading the list of top schools in the zip code are Lakewood Elementary School, Robert Frost Middle School, and Thomas S. Wootton High School.

Culture

If you're into the outdoors, great attractions in 20850 include Washingtonian Lake and Rio Sport&Health, according to Foursquare. If you like arts and entertainment, some popular spots are AMC Loews Rio Cinemas 18 and Monster Mini Golf. And finally, recommended places to eat are Panera Bread, Chipotle Mexican Grill, and Nando's PERi-PERi.

Price Range

The median value of homes in the 20850 zip code is $505,300, making it one of the most valuable areas in Maryland. At the same time, the average list price of available homes is presently $567,209. Over the last 30 days, the 20850 zip code market was healthy with 52 homes sold, a 6.1% increase from last week's report.

Curious as to which homes have been getting the most attention in the 20850 zip code? These listings have stirred up interest and produced the most views:

$269K   $575K   $524K  

Typical Dwelling

A three-bedroom townhouse valued around $555,149 is considered a typical dwelling in the 20850 zip code. If a buyer was looking for a similar home, they would need good credit and a $111,030 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $2,807 and the property tax rate is $12.02 per $1,000 of taxable assessed value.

Get started right now by checking out 20850 homes for sale or reviewing 20850 real estate trends.


Data reported through 10/13/2016

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Long & Foster Real Estate, Inc.
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