Calculate your monthly mortgage payment in Maryland. Pre-filled with Maryland's typical home value of $428,300 (Zillow Home Value Index, August 2026) and an effective property tax rate of 0.95% (Census ACS 2024 1-year, median taxes ÷ median home value).
Est. Monthly Payment
$2,804
Principal & Interest
$2,287
Property Tax / mo
$339
Total Interest Paid
$480,500
| Home Price | $428,300 | Typical home value in Maryland — Zillow Home Value Index, August 2026 |
| Down Payment | 20% ($85,660) | Assumption — no sourced state average |
| Loan Amount | $342,640 | Home price minus down payment |
| Interest Rate | 7.03% | Freddie Mac PMMS national average, week of 2026-09-24 — not a Maryland rate |
| Loan Term | 30 years | Assumption |
| Property Tax | 0.95% / year | Maryland effective rate — Census ACS 2024 1-year, median taxes ÷ median home value |
| Home Insurance | 0.5% / year | Assumption — not a sourced premium |
Programs named for Maryland: MMP 1st Time Advantage, MMP Flex 5000, Partner Match. This list has no recorded source or date and may be out of date — confirm current programs and eligibility with the Maryland housing finance agency before you rely on it.
Cost of living: Very High (index 118.8, MERIC (C2ER index), Second Quarter 2026) · Population: 6,265,347 (Census Bureau estimate, July 1, 2025)
Maryland has a typical home value of about $428,300 (Zillow Home Value Index, August 2026), above the U.S. typical value of $368,700. With an assumed 20% down payment of $85,660, a buyer would finance $342,640 over 30 years. At the national 7.03% fixed rate, the monthly principal and interest payment comes to $2,287.
The effective property tax rate in Maryland — median real estate taxes paid divided by median home value — is 0.95% per year (Census ACS 2024 1-year, median taxes ÷ median home value), against 0.89% for the U.S. Combined with an assumed $178 a month for homeowners insurance, the estimated all-in monthly housing cost is about $2,804.
Using the 28% housing cost guideline, you would need a gross annual income of approximately $120,150 to qualify comfortably. The median household income in Maryland is $102,905 (Census ACS 2024 1-year).
