Housing Insights for ZIP Code 20706 (Lanham, MD)

Housing Summary for ZIP Code 20706

Homeowners

The median home value in ZIP Code 20706 (Lanham, MD) is $295,800. Approximately 65.2% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 2.7%.

The average occupancy of owner-occupied units in ZIP Code 20706 is 3.34 occupants, while owner-occupied units have an aggregate average size of 3.32 bedrooms per housing unit.

Renters

In the 20706 ZIP Code, an estimated 34.8% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 3.4%.

Among renter-occupied units in this ZIP, the average occupancy is 3.20 occupants, while renters in this Prince George's County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 20706

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 20706.

ZIP 20706 Maryland U.S.
Median Home Value $295,800 $430,752 $361,498
Owner-Occupied Housing Units 65.2% 66.9% 64.0%
Homeowner Vacancy Rate 2.7% 1.7% 1.6%
Average Size of Owner-Occupied Unit 3.34 2.75 2.70
Average # of Bedrooms Per Unit 3.32 2.97 2.75
Median Housing Rent $0 $1,392 $1,062
Renter-Occupied Housing Units 34.8% 33.1% 36.0%
Rental Vacancy Rate 3.4% 6.0% 6.0%
Average Size of Renter-Occupied Unit 3.20 2.50 2.49
Percent of Income Spent on Rent 0% 30.05% 29.83%

Home Values in ZIP Code 20706 (Lanham, MD)

The median home value in ZIP Code 20706 is $295,800. That median value is about 6% lower than the median home value of $314,800 in Maryland overall, and is 36% higher than the $217,500 the median home value in the entire U.S. An estimated 44.5% of homes in ZIP Code 20706 are valued $300,000 to $499,999. That is 36% higher than in the state of Maryland, in which 32.8% of homes are valued at $300,000 to $499,999, and is about 131% higher than in the U.S. overall (19.3% of homes valued at $300,000 to $499,999). The home value range that the smallest portion of ZIP Code 20706 homes fall into is $1,000,000 or more (0.4% of homes).

Home Values in ZIP Code 20706

This chart visualizes the breakdown of home values in ZIP Code 20706, Maryland, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 20706 vs. home values in both the state of Maryland and in the U.S. overall.

Home Values in ZIP Code 20706

See the table below for a regional comparison of home values in ZIP Code 20706.

Home Value ZIP 20706 Maryland U.S.
Less than $50,000 2.1% 2.7% 6.9%
$50,000 to $99,999 1.1% 3.7% 12.0%
$100,000 to $149,999 2.9% 6.3% 13.3%
$150,000 to $199,999 7.9% 9.9% 14.0%
$200,000 to $299,999 37.8% 24.4% 19.6%
$300,000 to $499,999 44.5% 32.8% 19.3%
$500,000 to $999,999 3.2% 17.1% 11.4%
$1,000,000 or more 0.4% 3.1% 3.4%

Home Ages in ZIP Code 20706 (Lanham, MD)

Approximately 31.1% of homes in this Lanham, MD region were built in 1960 to 1969. This amount of homes built in 1960 to 1969 in ZIP Code 20706 is about 170% higher than percentage of homes built in this time period in Maryland overall (11.5% of homes), and is 193% higher the percentage (10.6% of homes) in the U.S. as a whole. Additionally, an esimated 18.1% of local homes were built in 1970 to 1979. On the other end of the scale, just 0.2% of homes in this Prince George's County ZIP Code were built in 2010 to 2013 in ZIP Code 20706. In comparison, 2.6% of homes in Maryland overall were built in 2010 to 2013, while 2.7% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 20706

A detailed regional comparison of home ages in ZIP Code 20706.

Year Built ZIP 20706 Maryland U.S.
2014 or later 2.9% 2.3% 2.5%
2010 to 2013 0.2% 2.6% 2.7%
2000 to 2009 4.4% 11.4% 14.0%
1990 to 1999 10.8% 14.3% 13.9%
1980 to 1989 14.5% 15.3% 13.4%
1970 to 1979 18.1% 14.1% 15.2%
1960 to 1969 31.1% 11.5% 10.6%
1950 to 1959 13.1% 11.4% 10.3%
1940 to 1949 3.6% 5.2% 4.9%
1939 or earlier 1.3% 11.8% 12.6%

Age of Homes in ZIP Code 20706

See the chart below for details on the age of homes in ZIP Code 20706, Maryland, and also in the U.S. overall. Data here refers to years that homes were built.

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Housing FAQs for ZIP Code 20706

Frequently asked questions about housing in this Lanham, MD ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 20706.

1

What is the average home value ZIP Code 20706?

The median home value in ZIP Code 20706 (Lanham, MD) is $295,800.
2

Are homes expensive in ZIP Code 20706?

The median home value in 20706 ($295,800) is an estimated 6% lower than the aggregate median value of $314,800 in Maryland, and is 36% higher than the $217,500 the median home value in the U.S. overall.
3

What are owner-occupied vacancy rates like in ZIP Code 20706?

The vacacy rate for owner-occupied housing in ZIP Code 20706 is 2.7%. This rate is 59% higher than the overall Maryland owner-occupied vacancy rate of 1.7%. Additionally, the 20706 vacancy rate is 69% higher than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 20706 have older homes or newer construction?

In ZIP Code 20706, about 31.1% of homes were built in 1960 to 1969. That time range includes the most home construction. Also, 18.1% of homes in the region were built in 1970 to 1979. In contrast, 0.2% of homes in 20706 were built in 2010 to 2013.
5

What is the housing breakdown in ZIP Code 20706? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 20706 than renter-occupied housing. Owner-occupied units make up 65.2% of housing, compared to 34.8% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 20706?

The vacacy rate for rental units in ZIP Code 20706 is 3.4%. This rate is 43% lower than the overall Maryland vacancy rate of 6.0%. Additionally, the 20706 vacancy rate is 43% lower than the entire U.S. vacancy rate of 6.0%.