The story of this market
The typical home in ZIP 20723 sells for about $580,000, or $258 per square foot.
Prices are up +5.5% from a year ago, so sellers still have some momentum. Homes take about 21 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $2,111 a month.
ZIP 20723 — Laurel (Howard County portion)
The 20723 housing market remains resilient, characterized by steady price appreciation and low inventory levels. Demand is driven by the area's strategic location between Baltimore and Washington, D.C., and a strong local employment base. While interest rates have influenced buyer activity, the market continues to see competitive bidding for well-priced properties.
This ZIP code is ideal for commuters and families seeking a balance between suburban living and access to major employment centers in the Baltimore-Washington corridor. It attracts a diverse demographic, including young professionals and established households looking for proximity to regional amenities.
Median prices moved up 5.5% year over year.
Homes spend a median of 21 days on market with 2.4 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 99.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.0% · poverty 4.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 20723, Maryland
Crime rates in the Laurel area are generally consistent with regional averages for Prince George's County, with property crime being the primary concern. Local law enforcement reports stable trends, though residents are encouraged to utilize community safety resources.
Schools serving the 20723 ZIP code are part of the Prince George's County Public Schools system, which offers a mix of magnet and neighborhood programs. Performance varies by school, with several institutions maintaining strong community engagement and academic support.
The area is subject to standard regional risks, including potential for localized flooding in low-lying areas and severe summer storm activity. Property insurance remains stable, though premiums are influenced by regional weather patterns and proximity to the Chesapeake Bay watershed.
The area benefits from its proximity to the Baltimore-Washington corridor, with significant employment access provided by nearby federal agencies and the Johns Hopkins Applied Physics Laboratory. Development momentum is focused on infill residential projects and commercial expansion along the Route 1 corridor.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Maryland) — Maryland Real Property Assessment and Taxation: Property is assessed at its phased-in use value. The tax is calculated by multiplying the assessed value by the applicable state and local tax rates.
Residents benefit from access to the MARC train and proximity to I-95 and the Baltimore-Washington Parkway, facilitating commutes to both Baltimore and Washington, D.C. Traffic congestion is a common factor during peak hours on major arterial roads.
The area features access to the Patuxent Research Refuge and various local parks, offering extensive trails and green space. Shopping and dining options are concentrated along the Route 1 corridor and nearby Laurel Town Centre.
The rental market is competitive due to the area's central location between major employment hubs, with steady demand for multi-family and single-family rentals. Vacancy rates remain low, and rent growth has tracked with regional inflation.
The local economy is anchored by federal government agencies, the Johns Hopkins Applied Physics Laboratory, and a robust healthcare sector. The area serves as a key residential and employment hub within the Baltimore-Washington corridor.
The area is served by MARC commuter rail, regional bus lines, and major highway access via I-95 and the Baltimore-Washington Parkway. Infrastructure improvements are focused on transit-oriented development and road capacity upgrades.
Development is focused on transit-oriented projects near the Laurel MARC station and continued expansion of mixed-use retail centers. Zoning updates are encouraging higher-density residential growth to meet regional housing demand.
The Prince George's County Department of Assessments and Taxation manages property valuations, utilizing a triennial assessment cycle to determine taxable values.
Parcels are subject to Prince George's County Public Schools district taxes and various municipal service districts. Some newer developments may be subject to special tax districts for infrastructure financing.
Property insurance markets are stable, though premiums are sensitive to regional storm risks and the age of housing stock. Homeowners are advised to maintain adequate coverage for wind and water damage.
The state continues to see moderate net domestic migration, with growth driven by the professional workforce in the technology and government sectors.
Maryland is a judicial foreclosure state, requiring court oversight for the foreclosure process, which typically provides a longer timeline for homeowners.
Maryland law requires sellers to provide a residential property disclosure statement, covering the condition of the home's major systems and known defects.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A massive federal wildlife refuge offering extensive hiking, biking, and educational programs.
A major mixed-use development featuring retail, restaurants, and entertainment options.
Features sports complexes, aquatic facilities, and extensive trail networks.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).