Housing Insights for ZIP Code 20906 (Silver Spring, MD)

Housing Summary for ZIP Code 20906

Homeowners

The median home value in ZIP Code 20906 (Silver Spring, MD) is $344,200. Approximately 66.2% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 0.4%.

The average occupancy of owner-occupied units in ZIP Code 20906 is 2.66 occupants, while owner-occupied units have an aggregate average size of 2.87 bedrooms per housing unit.

Renters

In the 20906 ZIP Code, an estimated 33.8% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 4.1%.

Among renter-occupied units in this ZIP, the average occupancy is 3.05 occupants, while renters in this Montgomery County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 20906

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 20906.

ZIP 20906 Maryland U.S.
Median Home Value $344,200 $430,752 $361,498
Owner-Occupied Housing Units 66.2% 66.9% 64.0%
Homeowner Vacancy Rate 0.4% 1.7% 1.6%
Average Size of Owner-Occupied Unit 2.66 2.75 2.70
Average # of Bedrooms Per Unit 2.87 2.97 2.75
Median Housing Rent $0 $1,392 $1,062
Renter-Occupied Housing Units 33.8% 33.1% 36.0%
Rental Vacancy Rate 4.1% 6.0% 6.0%
Average Size of Renter-Occupied Unit 3.05 2.50 2.49
Percent of Income Spent on Rent 0% 30.05% 29.83%

Home Values in ZIP Code 20906 (Silver Spring, MD)

The median home value in ZIP Code 20906 is $344,200. That median value is about 9% higher than the median home value of $314,800 in Maryland overall, and is 58% higher than the $217,500 the median home value in the entire U.S. In ZIP Code 20906, about 47.3% of homes are valued $300,000 to $499,999. That is 44% higher than in Maryland, in which 32.8% of homes are valued at $300,000 to $499,999, and is about 145% 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 20906 homes fall into is $1,000,000 or more (0.5% of homes).

Home Values in ZIP Code 20906

This chart visualizes the breakdown of home values in ZIP Code 20906, Maryland, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 20906 vs. home values in both the state of Maryland and in the U.S. overall.

Home Values in ZIP Code 20906

See the table below for a regional comparison of home values in ZIP Code 20906.

Home Value ZIP 20906 Maryland U.S.
Less than $50,000 1.7% 2.7% 6.9%
$50,000 to $99,999 3.3% 3.7% 12.0%
$100,000 to $149,999 7.3% 6.3% 13.3%
$150,000 to $199,999 7.8% 9.9% 14.0%
$200,000 to $299,999 17.7% 24.4% 19.6%
$300,000 to $499,999 47.3% 32.8% 19.3%
$500,000 to $999,999 14.4% 17.1% 11.4%
$1,000,000 or more 0.5% 3.1% 3.4%

Home Ages in ZIP Code 20906 (Silver Spring, MD)

Approximately 20.7% of homes in this Silver Spring, MD region were built in 1980 to 1989. This amount of homes built in 1980 to 1989 in ZIP Code 20906 is about 35% higher than percentage of homes built in this time period in Maryland overall (15.3% of homes), and is 54% higher the percentage (13.4% of homes) in the U.S. as a whole. Additionally, an esimated 20.4% of local homes were built in 1970 to 1979. On the other end of the scale, just 1.1% of homes in this Montgomery County ZIP Code were built in 1939 or earlier in ZIP Code 20906. In comparison, 11.8% of homes in Maryland overall were built in 1939 or earlier, while 12.6% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 20906

A detailed regional comparison of home ages in ZIP Code 20906.

Year Built ZIP 20906 Maryland U.S.
2014 or later 1.7% 2.3% 2.5%
2010 to 2013 1.7% 2.6% 2.7%
2000 to 2009 4.5% 11.4% 14.0%
1990 to 1999 12.1% 14.3% 13.9%
1980 to 1989 20.7% 15.3% 13.4%
1970 to 1979 20.4% 14.1% 15.2%
1960 to 1969 18.4% 11.5% 10.6%
1950 to 1959 15.2% 11.4% 10.3%
1940 to 1949 4.1% 5.2% 4.9%
1939 or earlier 1.1% 11.8% 12.6%

Age of Homes in ZIP Code 20906

See the chart below for details on the age of homes in ZIP Code 20906, 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 20906

Frequently asked questions about housing in this Silver Spring, MD ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 20906.

1

What is the average home value ZIP Code 20906?

The median home value in ZIP Code 20906 (Silver Spring, MD) is $344,200.
2

Are homes expensive in ZIP Code 20906?

The median home value in 20906 ($344,200) is an estimated 9% higher than the aggregate median value of $314,800 in Maryland, and is 58% 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 20906?

The vacacy rate for owner-occupied housing in ZIP Code 20906 is 0.4%. This rate is 76% lower than the overall Maryland owner-occupied vacancy rate of 1.7%. Additionally, the 20906 vacancy rate is 75% lower than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 20906 have older homes or newer construction?

In ZIP Code 20906, about 20.7% of homes were built in 1980 to 1989. That time range includes the most home construction. Also, 20.4% of homes in the region were built in 1970 to 1979. In contrast, 1.1% of homes in 20906 were built in 1939 or earlier.
5

What is the housing breakdown in ZIP Code 20906? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 20906 than renter-occupied housing. Owner-occupied units make up 66.2% of housing, compared to 33.8% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 20906?

The vacacy rate for rental units in ZIP Code 20906 is 4.1%. This rate is 32% lower than the overall Maryland vacancy rate of 6.0%. Additionally, the 20906 vacancy rate is 32% lower than the entire U.S. vacancy rate of 6.0%.