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ZIP Code · MD

ZIP 20723

Part of Laurel, MD
Pop. 36,866·Howard County·42nd most expensive ZIP in Maryland
Median rent (all units)
$2,268/mo
Year-over-Year
+15.5%
Month-over-Month
+4.1%
vs US Median
+$306
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 20723 · $2,268
More expensive than 72% of US ZIP codes · National median $1,962/mo
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Medians by bedroom

Rent by unit size

Studio
$1,700
1 BR
$1,890
2 BR
$2,320
3 BR
$2,950
4 BR+
$3,260
Research median
$2,320/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: August 17, 2026

Annual cost
$27,216/yr
At $2,268/mo median
Location
CityLaurel
StateMD
CountyHoward County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 15.5% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+15.5% YoY, +4.1% MoM), not inventory.
Demographics

Who lives here

ZIP 20723 (Laurel, MD) is majority owner-occupied, has a median income above the national average, 57.8% of residents hold a bachelor's degree or higher.

Population
36,866
Median income
$138,113
Median age
37.2
Renters
31.1%
Age distribution
23.2%
23.5%
27.4%
12.9%
12.9%
Under 1823.2%
18–3423.5%
35–5427.4%
55–6412.9%
65+12.9%
Gender
48.1%
51.9%
Male48.1%
Female51.9%
Race & ethnicity
35.7%
28.1%
14.4%
17%
White35.7%
Black28.1%
Hispanic14.4%
Asian17%
Other4.8%
Education (25+)
15.3%
18.2%
57.8%
No HS diploma8.7%
HS diploma15.3%
Some college18.2%
Bachelor's+57.8%
Housing tenure
68.9%
31.1%
Owner68.9%
Renter31.1%

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

2021 vs 2026

How ZIP 20723 in Laurel, MD has changed in 5 years

Rent
$1,671 → $2,268
up 35.7%
Income
$123,467 → $138,113
up 11.9%
Population
35,342 → 36,866
up 4.3%
Renter share
26.8% → 31.1%
+4.3 pts
Bachelor's+
61.6% → 57.8%
-3.8 pts
Median age
36.3 → 37.2
+0.9 yrs

Compared with 2021, rent in ZIP 20723 in Laurel, MD has climbed by $597 per month, settling near $2,268 after starting the period at $1,671. Median household income grew from $123,467 to $138,113 between 2021 and 2024, a 11.9% shift. Rent outpaced income growth by roughly 23.8 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 35,342 to 36,866 between 2021 and 2024, a 4.3% change. About 31.1% of households rent today, against 26.8% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 61.6% to 57.8%. Taken together, the five-year picture in ZIP 20723 in Laurel, MD reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 20723

Last updated: August 17, 2026

ZIP code 20723 covers Laurel, MD. The median rent here is $2,268/mo as of August 2026. A 1-bedroom rents for a median of $1,890/mo. A 2-bedroom rents for a median of $2,320/mo.

At 20% of local median household income ($138,113/yr), ZIP 20723 ranks as affordable compared to the national benchmark of 30%. Rents have increased 15.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 20723?

As of August 17, 2026, the median monthly rent in ZIP 20723 (Laurel, MD) is $2,268. This is based on aggregated data from public sources and community submissions.

How does ZIP 20723 rent compare to the US average?

ZIP 20723's median rent of $2,268/mo is $306 (16%) above the US national median of $1,962/mo.

How does ZIP 20723 compare to other ZIPs in Maryland?

ZIP 20723 is one of the pricier ZIP codes in Maryland, ranking #42 out of 139 ZIPs tracked at $2,268/mo.

How much income do you need to rent in ZIP 20723?

To keep rent at or below 30% of gross income, you would need to earn at least $91,000/year (~$44/hour full-time) to afford the median rent of $2,268/mo in ZIP 20723. The local median household income is $138,113/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 20723?

Rent in ZIP 20723 has increased 15.5% over the past year as of August 17, 2026, putting upward pressure on renter budgets.

Is ZIP 20723 an affordable place to rent?

ZIP 20723 is considered very affordable for renters. At $2,268/mo, rent takes approximately 20% of the local median household income ($138,113/yr). The standard benchmark is 30%. ZIP 20723 falls comfortably within that range.

What percentage of ZIP 20723 residents rent vs. own?

According to Census data, approximately 31.1% of ZIP 20723 households are renters, while 68.9% are owner-occupied. ZIP 20723 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 20723 compare to the rest of Laurel?

ZIP 20723 is pricier than Laurel as a whole. At $2,268/mo, it's $362 above the Laurel citywide median of $1,906/mo.

When was rent data for ZIP 20723 last updated?

Rent data for ZIP 20723 reflects August 17, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
20%
VERY AFFORDABLE

At $2,268/mo, rent takes ~20% of ZIP 20723's median household income ($138,113/yr). The standard benchmark is 30%.

ZIP 20723 20%Benchmark 30%
State income tax2–5.75%
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