Cost of Ownership · Maryland
The true cost of owning a home in Maryland
For a median $419,900 home in Maryland, here is the full monthly cost — not just the mortgage. Built from public data: the state's median home value and effective property-tax rate, its average homeowners premium, and the current 30-year rate. This is a representative example, not a quote.
Lender-approved payment
$3,023/mo
PITI + PMI
True monthly cost
$3,373/mo
everything, incl. upkeep
The gap
+$350/mo
what approval leaves out
Effective property-tax rate
0.97%
Avg. homeowners premium
$1,392/yr
NFIP flood claims on record
25,355
Closing costs in Maryland
Median closing costs and lender origination charges on real home-purchase loans in Maryland, from public CFPB HMDA data. Cells with fewer than 25 loans aren't shown.
Median total closing costs
$7,732
Typically $5,199–$12,191
Median origination charges
$3,520
Typically $1,598–$6,529
| Loan size | p25 | Median | p75 | Loans |
|---|---|---|---|---|
| All | $5,199 | $7,732 | $12,191 | 54,641 |
| All | $5,107 | $8,131 | $12,487 | 55,137 |
| < $250k | $4,315 | $5,703 | $8,122 | 9,004 |
| < $250k | $4,203 | $5,931 | $8,161 | 11,284 |
| $250k–$500k | $5,170 | $8,290 | $12,182 | 29,121 |
| $250k–$500k | $5,204 | $8,926 | $12,722 | 29,850 |
| $500k–$750k | $5,566 | $10,644 | $16,788 | 10,781 |
| $500k–$750k | $5,671 | $9,015 | $15,552 | 11,844 |
| > $750k | $6,577 | $8,492 | $15,676 | 4,672 |
| > $750k | $6,262 | $8,467 | $17,521 | 3,222 |
Compare your own Loan Estimate with the Loan Estimate Decoder, or see every state in the Fee & Rate Index.
Common questions about buying a home in Maryland
- What are the median closing costs in Maryland?
- Median total closing costs — lender and third-party charges — on a home-purchase loan in Maryland are about $7,732, from public CFPB HMDA data. Cells with fewer than 25 loans are suppressed.
- What is the effective property-tax rate in Maryland?
- The effective property-tax rate in Maryland is about 0.97%, from the Census American Community Survey (median real estate taxes divided by median home value).
- What does a median home cost to own each month in Maryland?
- A median $419,900 home in Maryland costs about $3,373 a month to own — principal, interest, property tax, insurance, PMI, and a maintenance reserve — versus a lender-approved payment of about $3,023. Every figure is from public data.
These figures use Maryland's median home value and a 10% down payment as a representative example. Your price, rate, and county rate will differ — run your own numbers in the True Cost tool, see how Maryland ranks on property tax and insurance, or browse every state.