How much is a home worth in ZIP code 20723?

The typical home in 20723 is worth $588,191, based on the Zillow Home Value Index.

Are home values rising in 20723?

Home values in 20723 are down 0.2% over the past year, and up 3.7% a year over five years.

What is the typical rent in 20723?

A typical home in 20723 rents for about $2,113 a month, a gross rental yield of 4.3%.

What is the property tax rate in 20723?

The effective property tax rate in 20723 is 1.1% — roughly $6,201 a year on a typical home.

ZIP code 20723 has a population of 36,866 and a median household income of $138,113.

HousingHandbookReference data

…

U.S. ZIP Code · MD20723

Howard County · Baltimore-Columbia-Towson, MD

Typical home value

$588,191^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.2%
5-year / yr: +3.7%
10-year / yr: +3.9%

Relative price

vs U.S.: +107.1%
vs metro: +20.6%
vs state: +30.6%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 20723 is worth $588,191 — 20.6% above the Baltimore-Columbia-Towson, MD median. Over the past year, values have fallen 0.2%. Homes here rent for a typical $2,113 a month — a 4.3% gross rental yield. The effective property tax rate is 1.1%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,113^[2]
Gross yield: 4.3%^[2]
Cap rate: 2.6%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.1%^[3]
Typical annual tax: $6,201^[3]

#Climate risk

FEMA National Risk Index ratings for Howard County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Moderate
Coastal flood: Very Low
Wildfire: Very Low
Drought: Relatively Moderate
Heat wave: Relatively Moderate
Hurricane: Relatively Low
Tornado: Relatively Low
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 36,866^[3]
Median household income: $138,113^[3]

#Migration

Household moves in and out of Howard County over a year, from IRS tax-return data.

Net migration: -1,203^[5]
Moved in: 11,543
Moved out: 12,746

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 6
Elementary: 4
Middle: 2
High: 0

Hammond Elementary
Elementary · Grades K–5 · Howard County Public Schools
739 students
Gorman Crossing Elementary
Elementary · Grades PK–5 · Howard County Public Schools
728 students
Forest Ridge Elementary
Elementary · Grades PK–5 · Howard County Public Schools
679 students
Murray Hill Middle
Middle · Grades 6–8 · Howard County Public Schools
600 students
Laurel Woods Elementary
Elementary · Grades PK–5 · Howard County Public Schools
596 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.3%

Net yield (after ~40% expenses)2.6%

Annual rent$25,356

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,974

Loan principal$470,553

Down payment$117,638

Total interest paid$600,164

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.88

Monthly cost to own$3,979

Monthly rent$2,113

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 45th percentile^[1]
Rental yield: 7th percentile^[2]
Property tax: 72nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 20723?: The typical home in 20723 is worth $588,191, based on the Zillow Home Value Index.
Are home values rising in 20723?: Home values in 20723 are down 0.2% over the past year, and up 3.7% a year over five years.
What is the typical rent in 20723?: A typical home in 20723 rents for about $2,113 a month, a gross rental yield of 4.3%.
What is the property tax rate in 20723?: The effective property tax rate in 20723 is 1.1% — roughly $6,201 a year on a typical home.
Who lives in 20723?: ZIP code 20723 has a population of 36,866 and a median household income of $138,113.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

21082 vs 20723 →
Pleasant Hills CDP, MD
Typical home
$587,881
Gross yield
—
21037 vs 20723 →
Mayo CDP, MD
Typical home
$581,847
Gross yield
6.5%
21409
Cape St. Claire CDP, MD
Typical home
$597,500
Gross yield
5.9%
21638
Grasonville CDP, MD
Typical home
$576,312
Gross yield
—
21051
MD
Typical home
$576,305
Gross yield
—
21012
Arnold CDP, MD
Typical home
$601,021
Gross yield
5.4%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 20723 against any other ZIP — full side-by-side table.

Compare 20723 →

#Jump to section

U.S. ZIP Code · MD20723

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