Maryland’s Most Expensive ZIP Codes – Chevy Chase and Potomac Town in the Lead at Over $2.3K

Key takeaways:

• At a monthly average of $2,392 Chevy Chase’s 20815 is the #1 most expensive ZIP code in Maryland, at more than $1K above the national average
• Bethesda’s 20814 is the #2 priciest ZIP in Maryland, forming a ZIP cluster with 20815 that ranks as Maryland’s most expensive area for renters
• Montgomery is the most expensive county in MD for renters, taking all three spots of the podium and dominating the top 50 list with 19 entries

As the national average rent inched up to $1,354, according to Yardi Matrix,  Maryland’s average rent hit $1,405—about the same price range as Virginia rents, which now average $1,395 per month. The Old Line State’s highest average rent was recorded in ZIP code 20815 at $2,392, followed closely by 20814 at a monthly $2,365, creating Maryland’s priciest ZIP area for renters in the Chevy Chase and Potomac Town area.  Rents have stayed relatively unchanged over the past 12 months, especially in the state’s most expensive ZIPs, while new supply mostly flatlined.

The interactive table below allows you to take a detailed look at Maryland’s top 50 most expensive ZIP codes for renters. Use the search box or click on the header of each column to sort results according to your preferences.

Top Most Expensive Zip Codes in Maryland in 2017

With the average rent in Chevy Chase’s 20815 clocking in at $2,392, this Montgomery County ZIP is Maryland’s #1 most expensive for renters. More than $1,000 above the national average rate, rents in 20815 have ticked up 1.27% compared to the year-ago figure, while stock levels remained steady at 2,877 units.

Clocking in at an average monthly rent of $2,365, Bethesda’s 20814 is Maryland’s #2 most pricey ZIP code. Similarly to neighbor 20815, rents here have expanded 1.5% year-over-year. Located right next to the above-mentioned 20815 in Chevy Chase, they form a cluster of pricey ZIPs. Together, Maryland’s most expensive ZIPs cluster covers Bethesda Town, Chevy Chase Town, Chevy Chase Village, North Chevy Chase, Friendship Heights Village, Somerset, and outlying areas of Chevy Chase. As such, renters in Maryland’s top priciest area have access to high-paying government jobs in Bethesda, including at famed Walter Reed Military Medical Center.

Ranking as Maryland’s #3 most expensive ZIP code for renters, 20854 in Potomac, Montgomery County posted an average rent of $2,331. The pricey ZIP maintained its ranking over the past 12 months, although it experienced a 2.78% expansion in the average rental rate. Covering Potomac Town and Travilah, 20854 is characterized by a relatively high median age—47.1—and a high percentage of pricey apartments—59% of 20854’s stock rents at rates over the $2,000 threshold.

With rents having inched up 4.74% over a year to an average of $2,187, Baltimore’s 21231 ranks as the 4^th most expensive ZIP code in the state. Meanwhile, stock levels have remained unchanged.  21231 covers iconic Baltimore neighborhoods such as Fells Point, Upper Fells Point, Washington Hill, Dunbar and Broadway, Butcher’s Hill and CARE. High-priced apartments here, such as Crescent at Fells Point by Windsor may ask as much as $5,000 per month.

20815 in Maryland is the most expensive ZIP code, with the average rent clocking in at $2,392.  Curious to see if other states’ priciest ZIPs can take Maryland on? Just move your cursor to another state boundary.

Methodology

• Data compilation, analysis, and mapping done by RentCafe using rent and construction data provided by Yardi Matrix, a RentCafe sister company.
• The average rent figures in this article were calculated from the actual rents charged in apartment buildings with at least 50 rental units, located in 125 U.S. markets, totaling approximately 15 million apartment units.
• ZIP codes with less than 200 rental units and less than 3 properties were excluded from the calculations.
• Rent prices are for apartments only, no single-family homes or townhomes were included.