ZIP Code · MD

ZIP 20602

Part of Waldorf, MD

Pop. 28,331·Charles County·31st most expensive ZIP in Maryland

Median rent (all units)

$2,405/mo

Year-over-Year

Stable

Month-over-Month

+1.1%

vs US Median

+$473

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 20602 · $2,405

More expensive than 77% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,820

1 BR

$1,870

2 BR

$2,090

3 BR

$2,640

4 BR+

$3,100

Research median

$2,090/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($107,360) is $2,684 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,640); a 4-bedroom is $3,100.

Rank in Waldorf

3rd cheapest of 3 ZIP codes in Waldorf.

From Zillow's monthly rent index (ZORI) for ZIP 20602. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$28,860/yr

At $2,405/mo median

Location

CityWaldorf

StateMD

CountyCharles County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.0% YoY, +1.1% MoM), not inventory.

Demographics

Who lives here

ZIP 20602 (Waldorf, MD) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 29.4% of residents hold a bachelor's degree or higher.

Population

28,331

Median income

$107,360

Median age

34.2

Renters

33%

Age distribution

25.2%

25.8%

25.2%

12.7%

Under 1825.2%

18–3425.8%

35–5425.2%

55–6412.7%

65+11%

Gender

47.4%

52.6%

Male47.4%

Female52.6%

Race & ethnicity

21.8%

60.2%

White21.8%

Black60.2%

Hispanic10.3%

Asian1.3%

Other6.4%

Education (25+)

31%

33.8%

29.4%

No HS diploma5.8%

HS diploma31%

Some college33.8%

Bachelor's+29.4%

Housing tenure

67%

33%

Owner67%

Renter33%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 20602 in Waldorf, MD has changed in 5 years

Income

$93,814 → $107,360

up 14.4%

Population

28,277 → 28,331

up 0.2%

Renter share

34.6% → 33%

-1.6 pts

Bachelor's+

27.5% → 29.4%

+1.9 pts

Median household income climbed from $93,814 to $107,360 between 2021 and 2024, a 14.4% shift. The renter share has eased from 34.6% to 33%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

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About renting in ZIP 20602

Last updated: October 17, 2026

ZIP code 20602 covers Waldorf, MD. The median rent here is $2,405/mo as of October 2026. A 1-bedroom rents for a median of $1,870/mo. A 2-bedroom rents for a median of $2,090/mo.

At 27% of local median household income ($107,360/yr), ZIP 20602 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 20602?

To keep rent at or below 30% of gross income, you would need to earn at least $96,000/year (about $46/hour full-time) to afford the median rent of $2,405/mo in ZIP 20602. The local median household income is $107,360/yr, so the typical household meets that bar.