CALCMONEY // HOME AFFORDABILITY // MD
Find out how much home you can afford in Maryland using local median home prices, current mortgage rates, and MD-specific property tax data.
Open Full Calculator$433,112
$2,762/mo
$363,605
$118,378/yr
| Median Home Price | $433,112 |
| Down Payment (20%) | $86,622 |
| Loan Amount | $346,490 |
| Monthly PI Payment | $2,250 |
| Monthly Property Tax | $332 |
| Monthly Insurance Est. | $180 |
| Total Monthly PITI | $2,762 |
| Required Gross Income (28% rule) | $118,378/yr |
| Max Affordable Price (28% rule) | $363,605 |
$15,159
$3,522/mo
Maryland Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $433,112 | State median |
| Down Payment (20%) | $86,622 | Conventional |
| Monthly PITI (median home) | $2,762 | 6.76% rate |
| Required Income (28% rule) | $118,378 | Annual gross |
| Max Affordable Home | $363,605 | Based on median income |
| FHA Down Payment (3.5%) | $15,159 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Maryland is $433,112, with a current 30-year fixed mortgage rate of 6.76%. A buyer putting 20% down on the median home would carry a loan of $346,490, resulting in a monthly principal and interest payment of $2,250. Once property taxes and insurance are added, total monthly housing costs reach $2,762.
Property taxes in Maryland average 0.92%, near the national average of 1.1%. On the median Maryland home, property taxes add $332/month to total housing costs.
Maryland levies a state income tax of 2%–6.5%, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Maryland state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Maryland's median income of $102,905/year can afford up to $2,401/month in total housing costs (principal, interest, taxes, and insurance). Based on Maryland's current mortgage rate of 6.76% and property tax rate of 0.92%, that translates to a maximum affordable home price of approximately $363,605 with 20% down on a 30-year loan.
To comfortably afford the median Maryland home priced at $433,112, you need an annual gross income of approximately $118,378. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $2,250, property taxes of $332, and insurance of $180) come to $2,762/month, which should not exceed 28% of your gross monthly income.
Maryland's average property tax rate is 0.92%, which is near the national average of 1.1%. On the median Maryland home of $433,112, that means annual property taxes of $3,985, or $332/month. Because lenders include property taxes in your debt-to-income calculation, Maryland's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Maryland home of $433,112, that is $15,159. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($86,622 on the median Maryland home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Maryland-specific minimum down payment requirements beyond federal guidelines.