ZIP Code · MD

ZIP 20904

Part of Silver Spring, MD

Pop. 58,646·Montgomery County·76th most expensive ZIP in Maryland

Median rent (all units)

$1,946/mo

Year-over-Year

+1.9%

Month-over-Month

Stable

vs US Median

+$14

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 20904 · $1,946

More expensive than 58% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,880

1 BR

$1,940

2 BR

$2,160

3 BR

$2,730

4 BR+

$3,200

Research median

$2,160/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

Cheapest month to sign

May. Asking rents in ZIP 20904 usually run 0.8% below trend in May and 1.3% above it in October, about $41 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 20904 is 0.7% below its high of $1,959 in January 2026, at $1,946 as of September 2026.

Past year vs. the rest of Maryland

Rent in ZIP 20904 changed +1.9% over the year to September 2026. Across the 124 Maryland ZIP codes Zillow tracks, the typical change was +2.6%.

What a typical income covers

30% of the median household income ($96,025) is $2,401 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,160); a 3-bedroom is $2,730.

Rank in Silver Spring

2nd cheapest of 6 ZIP codes in Silver Spring.

Cheaper nearby

ZIP 20705, 4 miles away, rents for 14% less ($1,671/mo), about $3,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 20904. 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.

Annual cost

$23,352/yr

At $1,946/mo median

Location

CitySilver Spring

StateMD

CountyMontgomery County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.9% YoY, +0.0% MoM), not inventory.

Demographics

Who lives here

ZIP 20904 (Silver Spring, MD) is roughly split between renters and owners, has a large retiree population, has a median income above the national average, 50.3% of residents hold a bachelor's degree or higher.

Population

58,646

Median income

$96,025

Median age

40.6

Renters

51.1%

Age distribution

22.8%

20%

24.7%

20.9%

Under 1822.8%

18–3420%

35–5424.7%

55–6411.7%

65+20.9%

Gender

48.1%

51.9%

Male48.1%

Female51.9%

Race & ethnicity

22.5%

49.4%

16.7%

White22.5%

Black49.4%

Hispanic16.7%

Asian10.1%

Other1.2%

Education (25+)

18.5%

21.2%

50.3%

No HS diploma10.1%

HS diploma18.5%

Some college21.2%

Bachelor's+50.3%

Housing tenure

48.9%

51.1%

Owner48.9%

Renter51.1%

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

2021 vs 2026

How ZIP 20904 in Silver Spring, MD has changed in 5 years

Rent

$1,545 → $1,946

up 26.0%

Income

$86,513 → $96,025

up 11.0%

Population

55,912 → 58,646

up 4.9%

Renter share

47.9% → 51.1%

+3.2 pts

Bachelor's+

49.1% → 50.3%

+1.2 pts

Five years ago, renters in ZIP 20904 in Silver Spring, MD paid around $1,545 a month. That figure now sits near $1,946, up 26.0% from the 2021 baseline. Median household income climbed from $86,513 to $96,025 between 2021 and 2024, a 11.0% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 20904 in Silver Spring, MD adding about 2,734 residents over the five-year window, up 4.9% on net. The renter share has risen from 47.9% to 51.1%, with owner-occupied housing accounting for the remainder. Taken together, the five-year picture in ZIP 20904 in Silver Spring, 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 20904

Last updated: October 17, 2026

ZIP code 20904 covers Silver Spring, MD. The median rent here is $1,946/mo as of October 2026. A 1-bedroom rents for a median of $1,940/mo. A 2-bedroom rents for a median of $2,160/mo.

At 24% of local median household income ($96,025/yr), ZIP 20904 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 20904?

To keep rent at or below 30% of gross income, you would need to earn at least $78,000/year (about $38/hour full-time) to afford the median rent of $1,946/mo in ZIP 20904. The local median household income is $96,025/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 20904?

Rent in ZIP 20904 has risen 1.9% over the past year as of September 2026. It sits 0.7% below its high of $1,959 in January 2026.

When is the cheapest time to rent in ZIP 20904?

Asking rents in ZIP 20904 are usually lowest in May, about 0.8% below their yearly trend, and highest in October, about 1.3% above it. At today's median that is a gap of roughly $41 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 20904 compare to other ZIPs in Maryland?

ZIP 20904 is in the middle among Maryland ZIP codes for rent, ranking #76 of 140 at $1,946/mo. Over the year to September 2026, rent in ZIP 20904 changed +1.9%, against a typical +2.6% across the 124 Maryland ZIP codes Zillow tracks.