The story of this market
The typical home in ZIP 21550 sells for about $301,309, or $148 per square foot.
Prices are up +3.1% from a year ago, so sellers still have some momentum. Homes take about 54 days to sell. HUD's fair market rent for a two-bedroom is $909 a month.
ZIP 21550 — Oakland
The 21550 housing market is currently balanced, with home values showing modest year-over-year growth. While prices are accessible compared to the state average, high vacancy rates and a high price-to-rent ratio suggest a challenging environment for passive investors. Buyers should conduct thorough due diligence given the mixed signals in the local economy.
This ZIP is well-suited for outdoor enthusiasts, retirees, and those seeking a rural lifestyle, though investors should be cautious of the high price-to-rent ratio.
Median prices moved up 3.1% year over year.
Homes spend a median of 54 days on market with 6.2 months of supply — a balanced-paced market.
13% of listings have cut prices · homes sell at 97.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.2% · poverty 11.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 21550, Garrett County MD
Crime rates in the Oakland area are generally lower than the national average, with property crime being the most frequently reported incident type.
Schools serving the 21550 ZIP code are part of the Garrett County Public Schools system, which generally maintains a stable academic reputation within the rural Maryland context.
The area faces moderate risks related to winter weather and localized flooding near water bodies; property insurance premiums are influenced by these environmental factors.
Economic momentum is driven by tourism, particularly around Deep Creek Lake, and local government services; infrastructure development is focused on maintaining rural connectivity.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Maryland) — Maryland Real Property Assessment and Taxation: Property is assessed at its phased-in use value. The tax is calculated by multiplying the assessed value by the applicable state and local tax rates.
Commuting is primarily car-dependent, with residents often traveling to local employment hubs in Oakland or regional centers; public transit options are extremely limited.
The area is rich in outdoor amenities, including proximity to Deep Creek Lake, Swallow Falls State Park, and various hiking trails, alongside local shopping in downtown Oakland.
The rental market is characterized by a mix of long-term residential leases and seasonal vacation rentals, with vacancy rates influenced by the tourism cycle.
The economy is anchored by tourism, hospitality, and public sector employment, with a significant portion of the workforce engaged in service-related industries.
Transportation is dominated by private vehicle use on state highways; there is no significant public transit infrastructure.
Development is largely focused on small-scale residential projects and tourism-related commercial improvements.
Garrett County utilizes a standard assessment cycle for property tax purposes, with values adjusted periodically based on market trends.
Parcels may be subject to specific fire, rescue, and utility district levies common in rural Maryland.
Property insurance markets are stable but sensitive to regional weather-related risks, particularly winter storm damage.
Data retrieved from Census Bureau ZCTA profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
Major regional destination for boating, fishing, and recreation.
Features scenic waterfalls and hiking trails.
Historic district with local shops and restaurants.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.