Maryland is one of the wealthiest states in the nation — anchored by the federal government, defense contracting, biotech, and the Chesapeake Bay corridor — with a median home price near $451,000. The Washington D.C. suburbs including Bethesda, Rockville, and Silver Spring command premium prices, while Baltimore city offers dramatically more affordable entry points. Maryland's property tax rate of 1.09% is near the national average, but the state's high incomes generally support manageable mortgage-to-income ratios for employed residents.
Calculate Your Monthly Payment
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Select a program to apply FHA/VA/USDA rules.
Funding fee is often financed into the loan.
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20.0% of home price
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Used to estimate potential Year‑2 escrow shock if taxes reset after purchase.
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Used for Conventional PMI estimates and FHA minimum down rules
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Extra payments reduce balance faster and can end PMI sooner.
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Principal & Interest • Tax • Insurance • PMI • HOA
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Year‑2 Payment Shock (Property Tax Reassessment)
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Year‑2 estimate
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Note: This is an estimate. Tax timing, exemptions, and escrow rules vary by county and lender. Always verify with your county assessor and your lender’s escrow analysis.
Extra Payment Savings
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Disclaimer: Results shown are estimates for educational purposes only and do not constitute financial, tax, legal, or investment advice. Actual payments vary based on lender, credit score, loan type, and local assessments. Consult a licensed mortgage professional for your specific situation.
Maryland Mortgage Calculator Guide
Buying a home in Maryland requires understanding local costs. The median home price in the state sits around $451,000, which means your down payment and loan amount will heavily dictate your monthly expenses. Because Maryland has an average property tax rate of 1.09%, factoring this into your monthly mortgage payment is essential for an accurate budget.
Beyond principal and interest, homeowners insurance in Maryland averages $1,500 per year. Local weather risks and property age can push this number higher. By using our pre-loaded local averages, you get a realistic view of your true housing costs rather than just a basic principal calculation.
If you put down less than 20%, you will also need to pay Private Mortgage Insurance (PMI). Adjust the down payment field above to see exactly how your PMI drops off once you reach that 20% equity threshold in Maryland.
Maryland's average property tax rate of 1.09% is just above the national average of 1.07%. Property taxes in Maryland are levied by both the county and the state, and rates vary significantly by jurisdiction — Montgomery County, Howard County, and Anne Arundel County all have different rates. Maryland offers a homestead tax credit that limits annual assessment increases for primary residences to a percentage set by the local government, protecting long-term owners from rapid tax increases. On a $451,000 home, annual property taxes average approximately $4,916.
Frequently Asked Questions
Maryland's average property tax rate is 1.09%, near the national average of 1.07%. Taxes are levied by both state and county governments, and rates vary by jurisdiction. The homestead tax credit caps annual assessment increases for primary residences, protecting long-term owners. On a $451,000 home, annual taxes average approximately $4,916.
Maryland's statewide median home price is approximately $451,000. The D.C. suburbs (Bethesda, Rockville) exceed $800,000+, while Baltimore city offers affordable rowhouses in many neighborhoods below $225,000. Annapolis commands premiums around $575,000 due to its waterfront location and desirability.
The Maryland Mortgage Program (MMP) offers the 1st Time Advantage loan with competitive rates, the HomeStart Down Payment Assistance program providing $5,000-$10,000, and the Maryland HomeCredit MCC program that reduces federal tax liability. Special Partner Match programs may double assistance for buyers using employer or local government contributions.
Baltimore offers some of the most affordable urban homeownership on the East Coast, with many neighborhoods featuring solid brick rowhouses below $200,000. The city has a strong medical (Johns Hopkins) and university anchor economy. Buyers should research neighborhoods carefully — there is wide variation in price, safety, and investment potential across the city's diverse communities.
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