How much house can I afford on $120,000 in Maryland?
About $418,000 with 20% down ($335,000 with an FHA loan), using Maryland's 0.98% property tax rate.
That is $6,865 less than the typical Maryland home ($424,890), so on $120,000 you'd look at cheaper areas or a smaller home. The payment of $2,800 covers $2,250 principal and interest, $341 property tax and $209 insurance.
Counties in Maryland you can afford on $120,000
12 of 24 counties have a typical home value at or below $418,000:
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Harford County | $414,044 | +0.9% | 0.89% |
| Kent County | $383,742 | +2.6% | 0.91% |
| Cecil County | $383,362 | +1.4% | 0.89% |
| Baltimore County | $358,090 | +0.4% | 1.07% |
| Garrett County | $334,905 | +2.0% | 0.78% |
| Washington County | $327,924 | +0.5% | 0.84% |
| Caroline County | $326,167 | +0.7% | 0.9% |
| Wicomico County | $271,722 | +1.2% | 0.85% |
| Dorchester County | $268,747 | +0.9% | 0.94% |
| Somerset County | $202,653 | +2.8% | 0.92% |
| Baltimore City | $181,356 | -3.9% | 1.46% |
| Allegany County | $155,795 | +3.1% | 1.06% |
Affordable metro areas
Assumes a 30-year fixed loan at 7.11%, property tax of 0.98% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Other salaries in Maryland
Frequently asked questions
How much house can I afford on $120,000 in Maryland?
About $418,000 with 20% down at 7.11%, keeping the payment (with Maryland's 0.98% property tax and insurance) under $2,800 a month.
Is $120,000 enough to buy a house in Maryland?
Not the typical home: the typical Maryland home is worth $424,890 (Zillow, September 2026) and $120,000 supports about $418,000. 12 of 24 counties are within budget.