20620, Callaway, MD

The 20620 zip code of Callaway, MD is located in Montgomery County and has a population of approximately 10,000. The median household income in this zip code is $107,000 and the median house value is $370,000. Over the past five years, home equity values have increased by an average of 9.5%.

There are a number of factors that contribute to the increase in home equity values in the 20620 zip code. One reason is that there are a high number of homes that are worth more than their original purchase price. Additionally, there has been an increase in demand for homes in this area due to the strong economy and low interest rates.

Another factor that contributes to the increase in home equity values is the fact that many homeowners have taken advantage of low interest rates to borrow money against their homes. This allows them to make larger down payments and pay off their mortgages faster than if they had to pay interest on their loans all along. As long as the market continues to be strong, homeowners should continue to see an increase in their home equity values over time.