Maryland Mortgage Calculator

Calculate your monthly mortgage payment in Maryland. Pre-filled with Maryland's average property tax rate of 1.07%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$312
Homeowner's Insurance
$100
Total Monthly Payment
$2,182

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,182/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Maryland Housing Overview

Maryland has an average property tax rate of 1.07%. Maryland's cost of living is about 20% above the national average, driven by proximity to D.C.

Property Tax: 1.07%Progressive state rates up to 5.75%County income taxes (2.25-3.2%)No tax on Social Security

Buying a Home in Maryland

If you're considering buying a home in Maryland, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Maryland's average property tax rate of 1.07% to give you a more accurate estimate.

Maryland Property Taxes

Maryland has an average effective property tax rate of 1.07%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 1.07% rate means approximately $3745 per year, or $312 per month in property taxes alone.

Cost of Living in Maryland

Maryland's cost of living is about 20% above the national average, driven by proximity to D.C. When evaluating whether to buy a home in Maryland, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Maryland Homebuyers

  • Maryland county income taxes add significantly to your total tax burden — check your county's rate
  • Maryland's proximity to D.C. allows access to high-paying federal and tech jobs
  • Maryland does not tax Social Security benefits
  • Consider the county you live in carefully — rates vary from 2.25% to 3.2%

Key Maryland Features

  • Progressive state rates up to 5.75%
  • County income taxes (2.25-3.2%)
  • No tax on Social Security
  • Major employer: federal government

See How Your Maryland Mortgage Fits Your Financial Plan

This calculator shows your Maryland mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Maryland Mortgage Costs with Other States

District of Columbia0.57% property taxVirginia0.82% property taxWest Virginia0.58% property taxTexas1.80% property taxFlorida0.89% property taxTennessee0.66% property tax

Frequently Asked Questions

What is the average property tax rate in Maryland?
The average effective property tax rate in Maryland is approximately 1.07%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Maryland's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Maryland?
Your mortgage payment in Maryland depends on the home price, your down payment, interest rate, and loan term. With Maryland's average property tax rate of 1.07%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Maryland an affordable state to buy a home?
Maryland's cost of living is about 20% above the national average, driven by proximity to D.C. When evaluating affordability in Maryland, consider not just the home price but also property taxes (1.07% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Maryland property taxes compare to other states?
Maryland's average property tax rate of 1.07% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Maryland?
Most states, including Maryland, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Maryland's housing authority and the FHA, VA, and USDA loan programs for additional options.

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