Enter your income, debts, and county below for a real, sourced estimate — property taxes, PMI, and your county's actual rates included, not a national average.
Uses your county's real FY2026 property tax rate and today's Freddie Mac average rate.
Why this number: we cap your monthly housing payment at 28% of gross income (or lower if your total debts would exceed 36% of income), then back out taxes, insurance, and PMI to find how much loan — and therefore home price — fits what's left. This is a widely used lender guideline, not a guarantee of loan approval. See Methodology · Editorial Policy.
Maryland's housing market stayed competitive through mid-2026. Limited inventory near the DC metro keeps Montgomery, Howard, and Anne Arundel County prices elevated, while Baltimore City, western Maryland, and parts of the Eastern Shore remain considerably more affordable. Here's where things stood as of our last review:
The good news: if you know your real numbers going in — not just the "how much am I approved for" number a lender gives you — you can move fast when the right home comes up, and avoid stretching past what you can actually afford month to month.
Most lenders and financial planners start from a simple guideline called the 28/36 rule. It isn't a law, and it isn't Maryland-specific — it's a widely used industry rule of thumb, and it's the same rule this page's calculator uses as a starting point:
🏠 The 28/36 Rule: Your total monthly housing payment (principal, interest, taxes, insurance — "PITI") should generally stay at or below 28% of your gross monthly income. Your total monthly debt, including that housing payment, should stay at or below 36%.
Example: if you earn $6,000/month before taxes, 28% is $1,680. But that $1,680 has to cover taxes and insurance too, not just principal and interest — which is exactly where the table in the next section corrects a common mistake.
This table assumes a 5% down payment, a 1.00% property tax rate (close to the Maryland average — your county may be higher or lower, see the table further down), $130/month homeowners insurance, PMI since the down payment is under 20%, and today's 6.65% 30-year rate. Unlike a simple "28% = your mortgage payment" shortcut, this table nets out taxes, insurance, and PMI from that 28% first — which produces a meaningfully more realistic number.
| Annual Salary | Max Housing Budget (28%) | Est. Home Price |
|---|---|---|
| $50,000 | $1,167/mo | ~$137,700 |
| $65,000 | $1,517/mo | ~$184,300 |
| $80,000 | $1,867/mo | ~$230,800 |
| $100,000 | $2,333/mo | ~$292,800 |
| $120,000 | $2,800/mo | ~$354,800 |
| $150,000 | $3,500/mo | ~$447,800 |
Our calculation. Assumptions: 5% down, 1.00% property tax, $130/mo insurance, PMI included, 6.65% 30-yr rate, no other monthly debt.
These are still estimates — your actual number depends on your credit score, existing debts, down payment size, and your specific county's property tax rate. Use the calculator at the top of this page for a number based on your real county and situation.
A lot of first-time buyers assume they need 20% down. Most don't. Here's the real breakdown by loan type:
| Loan Type | Min. Down Payment | Best For |
|---|---|---|
| FHA Loan | 3.5% (credit 580+) | First-time buyers, lower credit |
| Conventional Loan | 3% – 5% | Good credit (680+), stable income |
| VA Loan | 0% | Veterans and active military |
| USDA Loan | 0% | Eligible rural Maryland areas |
| Standard Conventional | 20% | Avoid PMI, lower monthly payment |
On a $350,000 Maryland home: 5% down = $17,500. 20% down = $70,000. Most first-time buyers go the 3–5% route and budget for PMI as part of the monthly payment, which is exactly what the calculator above does for you.
This is where a lot of Maryland buyers get surprised at the closing table — there are two separate taxes, not one, and the county portion varies a lot.
Maryland charges a flat 0.5% state transfer tax on the sale price. First-time homebuyers purchasing their principal residence are exempt from this state tax — a real, meaningful savings (on a $400,000 home, that's $2,000).
On top of the state tax, each county charges its own recordation tax on the mortgage/deed. Rates for a few of the state's largest counties:
| County | Recordation Tax |
|---|---|
| Montgomery County | $5.05 per $500 (1.01%) |
| Baltimore City | $5.00 per $500 (1.00%) |
| Prince George's County | $3.33 per $500 (0.666%) |
First-time buyers occupying the home as a primary residence typically get a reduced recordation rate as well — often $1.00 per $500 instead of the full county rate. Rates for Howard, Anne Arundel, Baltimore, Frederick, and Washington counties vary and aren't included here because we couldn't confirm a current figure from an official source — ask your title company or your county's Clerk of the Circuit Court / Finance Office for the exact current rate before closing.
Maryland property tax is assessed per $100 of assessed value, and it varies more by county than most buyers expect — Baltimore City's rate is more than double Washington County's. These are official FY2026 rates:
| County | Property Tax Rate | On a $400,000 home |
|---|---|---|
| Washington County | 0.928% | ~$3,712/yr |
| Anne Arundel County | 0.977% | ~$3,908/yr |
| Montgomery County | 1.039% | ~$4,157/yr |
| Baltimore County | 1.100% | ~$4,400/yr |
| Frederick County | 1.110% | ~$4,440/yr |
| Howard County | 1.250% | ~$5,000/yr |
| Prince George's County | 1.374% | ~$5,496/yr |
| Baltimore City | 2.248% | ~$8,992/yr |
Source: Maryland Department of Legislative Services, FY2026 County & Municipal Property Tax Rates. Cities and incorporated towns often add their own municipal rate on top of the county rate — check your specific address.
Maryland runs some of the more useful first-time buyer assistance programs in the country through the Maryland Mortgage Program (MMP), administered by the Maryland Department of Housing and Community Development.
Eligibility, income limits, and available funding change over time — confirm current details directly at mmp.maryland.gov before you plan around any program. Most require a homebuyer education course, which MMP typically offers free or low-cost online.
Three worked examples using the same math as the calculator above, so you can see exactly how the numbers move.
These three used the calculator above with the inputs shown — plug in your own numbers for a figure specific to you.
Before anything else, find your actual monthly take-home after Maryland state, local, and federal taxes with our paycheck calculator.
You'll generally need at least 580 for FHA, 620–640 for most conventional loans, and 740+ for the best available rates. Many banks and credit monitoring apps offer a free check.
Use the calculator at the top of this page with your actual county, income, debts, and down payment for a realistic range — not a national average.
Pre-qualification is a quick estimate. Pre-approval means a lender has actually verified your credit and income. Sellers take pre-approved buyers more seriously.
Confirm current MMP eligibility and funding status before you start shopping — some programs run through allocated funding during the year.
Add mortgage + property tax + insurance + HOA + a maintenance reserve (a common rule of thumb is roughly 1% of home value per year) — that's closer to your real monthly housing cost.
Location changes the math more than almost anything else in Maryland. Median sale prices and the income needed to comfortably afford that county's median home (10% down, that county's actual property tax rate, 6.65% rate):
| County | Median Sale Price | Est. Income Needed |
|---|---|---|
| Baltimore City | $240,000 (Oct 2025) | ~$90,000/yr |
| Washington County | $306,950 (Oct 2024) | ~$99,000/yr |
| Baltimore County | $340,000 (Mar 2024) | ~$111,000/yr |
| Prince George's County | $458,706 (Jun 2026) | ~$153,000/yr |
| Anne Arundel County | $475,500 (Feb 2025) | ~$151,000/yr |
| Frederick County | $493,500 (Jun 2025) | ~$159,000/yr |
| Howard County | $567,500 (Nov 2025) | ~$185,000/yr |
| Montgomery County | $630,000 (Nov 2025) | ~$200,000/yr |
Median sale prices: Redfin county housing-market data, dates as shown per county (Redfin updates each county page on its own schedule, so figures aren't all from the same month — click through for the current live number). Income-needed is our calculation using each county's official FY2026 property tax rate, not a Redfin figure.
This calculator and guide use published rates and formulas, not a connection to any lender's actual underwriting system. It can't know your specific lender's overlays, your exact credit tier's rate adjustment, condo/co-op specific fees, flood insurance requirements, or funding availability for assistance programs at the moment you apply. Treat every result here as a planning estimate, not a quote or approval — see our full Disclaimer and Methodology pages for more detail.
Pair this with your real take-home pay and see how a Maryland mortgage payment fits your monthly budget.
Use the Free Paycheck Calculator →Last reviewed: August 2026. Rates and prices are point-in-time snapshots and will move — click through to each source above for the current live figure. Spotted something outdated? Email illvisionmedia.co@gmail.com.