Silver Spring, MD — income, home value, property tax, and sales tax.
Households in ZIP code 20816, near Silver Spring, report a median income of $232,656, with per-capita income at $114,267. Homes here carry a median value of $1,217,200, and the county-level effective property tax rate is 0.86%. Combined with a 6.00% sales tax, that property rate shapes annual ownership costs considerably given the high home values involved. Even so, the income figures sit well above what those tax rates would demand, so a household here likely absorbs both taxes without much strain on its overall finances.
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