January's First-Time Homebuyer Report for 20707 Zip Code

20707 is a larger than average zip code in Maryland with 31,884 residents. Its population is growing slower than the rest of the state, at a 10-year growth rate of 20.6%. With an ownership ratio of 56.1%, most people in the 20707 zip code are homeowners. Topping the list of best schools in the zip code is Laurel High School.

Price Range

Homes in the 20707 zip code are worth a median of $194,000, similar to other parts of Maryland. Additionally, the list prices of available homes is currently at an average of $357,363. The 20707 zip code market slowed with a 20.0% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (35.8) with 36 homes sold.

Wonder which homes are generating the most buzz? Here are the most viewed listings in the 20707 zip code:

$289K   $310K   $185K  

Typical Dwelling

A three-bedroom townhouse valued around $257,688 is considered a typical dwelling in the 20707 zip code. If a buyer was looking for a similar home, they would need good credit and a $51,538 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,323 and the property tax rate is $16.07 per $1,000 of taxable assessed value.

Get started right now by checking out 20707 homes for sale or reviewing 20707 real estate trends.


Data reported through 1/12/2017

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