The story of this market
The typical home in ZIP 20902 sells for about $563,333, or $325 per square foot.
Prices are down 1.2% from a year ago, which gives buyers more room to negotiate. Homes take about 22 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $2,116 a month.
ZIP 20902 — Silver Spring
The 20902 housing market remains stable, supported by strong demand from commuters and federal employees. While home values have seen a slight year-over-year dip, the market maintains low inventory and competitive sale-to-list ratios. The area's proximity to transit and high-quality schools continues to drive interest despite broader economic headwinds.
This ZIP is ideal for commuters seeking transit access to D.C., families attracted to the robust public school system, and professionals working in the nearby federal research and healthcare sectors.
Median prices moved down 1.2% year over year.
Homes spend a median of 22 days on market with 2.1 months of supply — a fast-moving market.
18% 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 6.1% · poverty 12.6% — a stable, low-distress profile.
Built from 440 recorded sales in the last 24 months against HUD 3-bedroom fair market rents. The location premium is the part of the price that rent, income, education, employment, vacancy, price trend, hazard, lending and flood risk don't explain. It usually reflects amenities, schools and scarcity. It's area context and does not change this ZIP's home value estimates.
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 4.7%/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 4.2%/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 20902, Montgomery County MD
Crime rates in the Silver Spring area are generally consistent with suburban Montgomery County averages, though specific pockets experience higher property crime rates than the regional baseline.
Schools serving the 20902 area are part of the Montgomery County Public Schools system, which is highly regarded nationally for academic performance and diverse programming.
The area faces moderate risk from severe thunderstorms and localized flooding in low-lying areas near Sligo Creek, but is generally not prone to major wildfire or windstorm disasters.
Economic momentum is driven by proximity to the NIH, FDA, and the broader Washington D.C. federal employment corridor, with ongoing transit-oriented development near the Wheaton Metro station.
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 direct access to the Red Line via the Wheaton and Glenmont Metro stations, providing a reliable transit commute into downtown Silver Spring and Washington D.C.
The area features extensive green space including Sligo Creek Park and Wheaton Regional Park, which offers trails, a carousel, and a miniature train, alongside diverse shopping at Westfield Wheaton.
The rental market is characterized by high demand due to proximity to transit, with a mix of garden-style apartment complexes and single-family home rentals; vacancy rates remain low.
The economy is anchored by federal government agencies, healthcare, and education, with significant employment hubs in nearby Bethesda and Silver Spring.
The area is served by the WMATA Red Line and extensive bus networks, providing critical connectivity to the D.C. metro area.
Development is focused on high-density, transit-oriented projects near the Wheaton Metro station to increase housing supply.
The Montgomery County Department of Finance handles assessments, which are conducted on a three-year cycle.
Parcels are subject to Montgomery County Public Schools, Montgomery College, and various special taxing districts for fire and rescue services.
Property insurance premiums are stable but reflect regional risks associated with severe weather and aging infrastructure.
Net domestic migration remains steady as the area attracts professionals working in the D.C. metro region.
Maryland is a judicial foreclosure state, requiring court oversight for the foreclosure process.
Maryland law requires sellers to provide a residential property disclosure statement covering the condition of the home's major systems.
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.
Extensive trail system and greenbelt running through the heart of the ZIP.
Large regional park featuring a train, carousel, and athletic fields.
Major regional shopping mall and dining destination.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.