ZIP 20723
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 20723 usually run 1.1% below trend in January and 1.2% above it in May, about $49 a month apart at today's median. Based on 8 years of data.
Rent in ZIP 20723 is 0.9% below its high of $2,153 in March 2026, at $2,134 as of September 2026.
Rent in ZIP 20723 changed +1.7% over the year to September 2026. Across the 124 Maryland ZIP codes Zillow tracks, the typical change was +2.6%.
From 2019 to 2024, rent in ZIP 20723 rose 27.6% while median household income rose 17.2% ($117,878 to $138,113). Rent outpaced income.
Rent in ZIP 20723 is 28.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 2 months in a row, and rose in 5 of the last 12 months.
30% of the median household income ($138,113) is $3,453 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($3,260).
3rd cheapest of 4 ZIP codes in Laurel.
ZIP 20708, 6 miles away, rents for 23% less ($1,653/mo), about $5,800 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 20723. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 20723 in Laurel, MD has changed in 5 years
Compared with 2021, rent in ZIP 20723 in Laurel, MD has climbed by $355 per month, settling near $2,134 after starting the period at $1,779. Median household income grew from $123,467 to $138,113 between 2021 and 2024, a 11.9% shift. Rent outpaced income growth by roughly 8.1 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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Tips for renters in ZIP 20723
Last updated: October 17, 2026
ZIP code 20723 covers Laurel, MD. The median rent here is $2,134/mo as of October 2026. A 1-bedroom rents for a median of $1,890/mo. A 2-bedroom rents for a median of $2,320/mo.
At 19% of local median household income ($138,113/yr), ZIP 20723 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.7% over the past year.
Frequently asked questions
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How does ZIP 20723 compare to other ZIPs in Maryland?
How does ZIP 20723 compare to the rest of Laurel?
At $2,134/mo, rent takes ~19% of ZIP 20723's median household income ($138,113/yr). The standard benchmark is 30%.
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