Market Insights Rental Market

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

Maryland’s Most Expensive ZIP Codes

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 MatrixMaryland’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

#ZIP codeCityCountyAverage Rent
120815Chevy ChaseMontgomery$2,392
520740College ParkPrince George's$2,170
921076HanoverAnne Arundel$1,896
1020910Silver SpringMontgomery$1,813
1220774Upper MarlboroPrince George's$1,772
1320716BowiePrince George's$1,761
1421401AnnapolisAnne Arundel$1,758
1820902Silver SpringMontgomery$1,715
2121113OdentonAnne Arundel$1,681
2221122PasadenaAnne Arundel$1,663
2721042Ellicott CityHoward$1,622
2820772Upper MarlboroPrince George's$1,605
3020724LaurelAnne Arundel$1,591
3220705BeltsvillePrince George's$1,568
3320707LaurelPrince George's$1,560
3620906Silver SpringMontgomery$1,551
3720770GreenbeltPrince George's$1,544
3820785HyattsvillePrince George's$1,541
4120782HyattsvillePrince George's$1,516
4221114CroftonAnne Arundel$1,511
4321043Ellicott CityHoward$1,506
4620903Silver SpringMontgomery$1,476
4720886Montgomery VillageMontgomery$1,469
4820904Silver SpringMontgomery$1,468
5021403AnnapolisAnne Arundel$1,459

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 TownChevy 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 renters20854 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 4th most expensive ZIP code in the state. Meanwhile, stock levels have remained unchanged.  21231 covers iconic Baltimore neighborhoods such as Fells PointUpper 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.

  • 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.

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About the author

Balazs Szekely

Balazs Szekely is a qualified journalist with extensive experience as a real estate writer for several Yardi publications. He has covered a wide range of housing issues and real estate news as a creative writer for RENTCafé. Balazs holds a B.S. in Journalism. You can connect with Balazs via email.

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