Housing Insights for ZIP Code 21540 (Luke, MD)

Housing Summary for ZIP Code 21540

Homeowners

The median home value in ZIP Code 21540 (Luke, MD) is $25,000. Approximately 68.4% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 16.1%.

The average occupancy of owner-occupied units in ZIP Code 21540 is 2.42 occupants, while owner-occupied units have an aggregate average size of 2.69 bedrooms per housing unit.

Renters

In the 21540 ZIP Code, an estimated 31.6% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 29.4%.

Among renter-occupied units in this ZIP, the average occupancy is 2.83 occupants, while renters in this Allegany County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 21540

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 21540.

ZIP 21540 Maryland U.S.
Median Home Value $25,000 $430,752 $361,498
Owner-Occupied Housing Units 68.4% 66.9% 64.0%
Homeowner Vacancy Rate 16.1% 1.7% 1.6%
Average Size of Owner-Occupied Unit 2.42 2.75 2.70
Average # of Bedrooms Per Unit 2.69 2.97 2.75
Median Housing Rent $0 $1,392 $1,062
Renter-Occupied Housing Units 31.6% 33.1% 36.0%
Rental Vacancy Rate 29.4% 6.0% 6.0%
Average Size of Renter-Occupied Unit 2.83 2.50 2.49
Percent of Income Spent on Rent 0% 30.05% 29.83%

Home Values in ZIP Code 21540 (Luke, MD)

The median home value in ZIP Code 21540 is $25,000. That median value is about 92% lower than the median home value of $314,800 in Maryland overall, and is 89% lower than the $217,500 the median home value in the entire U.S. About 73.1% of homes in ZIP Code 21540 are valued less than $50,000. That is 2607% higher than in the state of Maryland, in which 2.7% of homes are valued at less than $50,000, and is about 959% higher than in the U.S. overall (6.9% of homes valued at less than $50,000). The home value range that the smallest portion of ZIP Code 21540 homes fall into is $1,000,000 or more (0.0% of homes).

Home Values in ZIP Code 21540

This chart visualizes the breakdown of home values in ZIP Code 21540, Maryland, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 21540 vs. home values in both the state of Maryland and in the U.S. overall.

Home Values in ZIP Code 21540

See the table below for a regional comparison of home values in ZIP Code 21540.

Home Value ZIP 21540 Maryland U.S.
Less than $50,000 73.1% 2.7% 6.9%
$50,000 to $99,999 7.7% 3.7% 12.0%
$100,000 to $149,999 15.4% 6.3% 13.3%
$150,000 to $199,999 0.0% 9.9% 14.0%
$200,000 to $299,999 3.8% 24.4% 19.6%
$300,000 to $499,999 0.0% 32.8% 19.3%
$500,000 to $999,999 0.0% 17.1% 11.4%
$1,000,000 or more 0.0% 3.1% 3.4%

Home Ages in ZIP Code 21540 (Luke, MD)

Approximately 70.7% of homes in this Luke, MD region were built in 1939 or earlier. This amount of homes built in 1939 or earlier in ZIP Code 21540 is about 499% higher than percentage of homes built in this time period in Maryland overall (11.8% of homes), and is 461% higher the percentage (12.6% of homes) in the U.S. as a whole. Additionally, an esimated 20.7% of local homes were built in 1950 to 1959. On the other end of the scale, just 0.0% of homes in this Allegany County ZIP Code were built in 1940 to 1949 in ZIP Code 21540. In comparison, 5.2% of homes in Maryland overall were built in 1940 to 1949, while 4.9% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 21540

A detailed regional comparison of home ages in ZIP Code 21540.

Year Built ZIP 21540 Maryland U.S.
2014 or later 0.0% 2.3% 2.5%
2010 to 2013 0.0% 2.6% 2.7%
2000 to 2009 0.0% 11.4% 14.0%
1990 to 1999 1.7% 14.3% 13.9%
1980 to 1989 0.0% 15.3% 13.4%
1970 to 1979 0.0% 14.1% 15.2%
1960 to 1969 6.9% 11.5% 10.6%
1950 to 1959 20.7% 11.4% 10.3%
1940 to 1949 0.0% 5.2% 4.9%
1939 or earlier 70.7% 11.8% 12.6%

Age of Homes in ZIP Code 21540

See the chart below for details on the age of homes in ZIP Code 21540, 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 21540

Frequently asked questions about housing in this Luke, MD ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 21540.

1

What is the average home value ZIP Code 21540?

The median home value in ZIP Code 21540 (Luke, MD) is $25,000.
2

Are homes expensive in ZIP Code 21540?

The median home value in 21540 ($25,000) is an estimated 92% lower than the aggregate median value of $314,800 in Maryland, and is 89% lower than the $217,500 the median home value in the U.S. overall.
3

What are owner-occupied vacancy rates like in ZIP Code 21540?

The vacacy rate for owner-occupied housing in ZIP Code 21540 is 16.1%. This rate is 847% higher than the overall Maryland owner-occupied vacancy rate of 1.7%. Additionally, the 21540 vacancy rate is 906% higher than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 21540 have older homes or newer construction?

In ZIP Code 21540, about 70.7% of homes were built in 1939 or earlier. That time range includes the most home construction. Also, 20.7% of homes in the region were built in 1950 to 1959. In contrast, 0.0% of homes in 21540 were built in 1940 to 1949.
5

What is the housing breakdown in ZIP Code 21540? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 21540 than renter-occupied housing. Owner-occupied units make up 68.4% of housing, compared to 31.6% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 21540?

The vacacy rate for rental units in ZIP Code 21540 is 29.4%. This rate is 390% higher than the overall Maryland vacancy rate of 6.0%. Additionally, the 21540 vacancy rate is 390% higher than the entire U.S. vacancy rate of 6.0%.