ZIP Code · MD

ZIP 21703

Part of Frederick, MD

Pop. 41,960·Frederick County·39th most expensive ZIP in Maryland

Median rent (all units)

$2,296/mo

Year-over-Year

+2.3%

Month-over-Month

+0.7%

vs US Median

+$364

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 21703 · $2,296

More expensive than 73% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,830

1 BR

$1,880

2 BR

$2,100

3 BR

$2,650

4 BR+

$3,120

Research median

$2,100/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

December. Asking rents in ZIP 21703 usually run 0.9% below trend in December and 1% above it in July, about $44 a month apart at today's median. Based on 6 years of data.

Compared with the peak

Rent in ZIP 21703 is 0.1% below its high of $2,299 in July 2026, at $2,296 as of September 2026.

Past year vs. the rest of Maryland

Rent in ZIP 21703 changed +2.3% over the year to September 2026. Across the 124 Maryland ZIP codes Zillow tracks, the typical change was +2.6%.

Since before the pandemic

Rent in ZIP 21703 is 47.1% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($106,334) is $2,658 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,650); a 4-bedroom is $3,120.

Rank in Frederick

3rd cheapest of 4 ZIP codes in Frederick.

Cheaper nearby

ZIP 21769, 7 miles away, rents for 21% less ($1,824/mo), about $5,700 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 21703. 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

$27,552/yr

At $2,296/mo median

Location

CityFrederick

StateMD

CountyFrederick County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.3% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.3% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 21703 (Frederick, MD) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 43% of residents hold a bachelor's degree or higher.

Population

41,960

Median income

$106,334

Median age

34.6

Renters

33.5%

Age distribution

26.1%

24.6%

26.9%

Under 1826.1%

18–3424.6%

35–5426.9%

55–6411.4%

65+11%

Gender

47.3%

52.7%

Male47.3%

Female52.7%

Race & ethnicity

50.2%

19.8%

18.7%

White50.2%

Black19.8%

Hispanic18.7%

Asian8.9%

Other2.4%

Education (25+)

22.7%

27%

43%

No HS diploma7.3%

HS diploma22.7%

Some college27%

Bachelor's+43%

Housing tenure

66.5%

33.5%

Owner66.5%

Renter33.5%

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

2020 vs 2026

How ZIP 21703 in Frederick, MD has changed in 5 years

Rent

$1,561 → $2,296

up 47.1%

Income

$96,906 → $106,334

up 9.7%

Population

39,438 → 41,960

up 6.4%

Renter share

33% → 33.5%

+0.5 pts

Bachelor's+

38.5% → 43%

+4.5 pts

Median age

35.6 → 34.6

-1.0 yrs

The median rent in ZIP 21703 in Frederick, MD stood at $1,561 in 2020 and currently runs about $2,296, reflecting a 47.1% increase over the period. Local incomes tracked alongside that move, going from a median of $96,906 in 2021 to $106,334 more recently. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 6.4% since 2021, moving from about 39,438 residents to roughly 41,960. College-educated residents now make up 43% of adults here, versus 38.5% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 21703 in Frederick, MD market of 2020.

Community

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Local insights

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About renting in ZIP 21703

Last updated: October 17, 2026

ZIP code 21703 covers Frederick, MD. The median rent here is $2,296/mo as of October 2026. A 1-bedroom rents for a median of $1,880/mo. A 2-bedroom rents for a median of $2,100/mo.

At 26% of local median household income ($106,334/yr), ZIP 21703 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 21703?

To keep rent at or below 30% of gross income, you would need to earn at least $92,000/year (about $44/hour full-time) to afford the median rent of $2,296/mo in ZIP 21703. The local median household income is $106,334/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 21703?

Rent in ZIP 21703 has risen 2.3% over the past year as of September 2026. It sits 0.1% below its high of $2,299 in July 2026.

When is the cheapest time to rent in ZIP 21703?

Asking rents in ZIP 21703 are usually lowest in December, about 0.9% below their yearly trend, and highest in July, about 1% above it. At today's median that is a gap of roughly $44 a month. This pattern comes from 6 years of Zillow rent data.

How does ZIP 21703 compare to other ZIPs in Maryland?

ZIP 21703 is one of the pricier among Maryland ZIP codes for rent, ranking #39 of 140 at $2,296/mo. Over the year to September 2026, rent in ZIP 21703 changed +2.3%, against a typical +2.6% across the 124 Maryland ZIP codes Zillow tracks.