Mortgage on a $500K house in Maryland
$3,349 a month with 20% down — $2,691 principal and interest plus $408 property tax and $250 insurance.
Maryland's typical property tax is 0.98% of the home's value a year (U.S. average 0.9%), which adds $408 a month on a $500K home. The typical home in Maryland is worth $424,890, so $500K is 18% above the typical price.
$500K home in Maryland: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $100,000 | $400,000 | $2,691 | $0 | $658 | $3,349 | $143,500 |
| 10% down | $50,000 | $450,000 | $3,027 | $188 | $658 | $3,873 | $166,000 |
| 5% down | $25,000 | $475,000 | $3,195 | $198 | $658 | $4,052 | $173,600 |
| 3.5% down (FHA) | $17,500 | $490,944 | $3,303 | $221 | $658 | $4,182 | $179,200 |
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.
Where in Maryland does $500K buy a typical home?
In these counties the typical home value is within 15% of $500K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Anne Arundel County | $502,145 | 0.85% | $3,293 |
| Frederick County | $494,258 | 0.99% | $3,352 |
| Carroll County | $486,857 | 0.91% | $3,319 |
| Talbot County | $484,929 | 0.65% | $3,210 |
| Calvert County | $480,115 | 0.84% | $3,293 |
| Queen Annes County | $522,697 | 0.78% | $3,267 |
| Charles County | $442,448 | 1.01% | $3,363 |
| Saint Marys County | $431,391 | 0.84% | $3,291 |
20 of 24 Maryland counties tracked by Zillow have a typical home value at or below $500K. See all Maryland home prices.
Other prices in Maryland
Frequently asked questions
What is the mortgage on a $500K house in Maryland?
About $3,349 a month with 20% down at 7.11%: $2,691 principal and interest, $408 property tax and $250 insurance.
How much do I need to make to buy a $500K house in Maryland?
About $143,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $500K house in Maryland?
At Maryland's typical effective rate of 0.98%, about $4,899 a year. Rates vary by county and city — see the county pages.