How much house can I afford on $40,000 in Maryland?
About $139,000 with 20% down ($112,000 with an FHA loan), using Maryland's 0.98% property tax rate.
That is $285,548 less than the typical Maryland home ($424,890), so on $40,000 you'd look at cheaper areas or a smaller home. The payment of $933 covers $750 principal and interest, $114 property tax and $70 insurance.
Counties in Maryland you can afford on $40,000
On $40,000 the typical home is out of reach in every Maryland county tracked by Zillow — the cheapest is Allegany County at $155,795.
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 $40,000 in Maryland?
About $139,000 with 20% down at 7.11%, keeping the payment (with Maryland's 0.98% property tax and insurance) under $933 a month.
Is $40,000 enough to buy a house in Maryland?
Not the typical home: the typical Maryland home is worth $424,890 (Zillow, September 2026) and $40,000 supports about $139,000. 0 of 24 counties are within budget.