With a 5.75% top income tax rate and 1.05% property tax, Maryland homeowners face a moderate combined tax burden. This calculator is pre-filled with Maryland numbers: $410,000 median price, 1.05% property tax, $1,450/year insurance.
Last updated: March 13, 2026
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Monthly Payment (Maryland)$0
Loan Details — Maryland
Maryland median: $410,000
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Below 20% triggers PMI on conventional loans
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Average 30-year fixed ~6.75% (March 2026)
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Maryland average: 1.05%
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Maryland average: $1,450/yr
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Principal & Interest
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Property Tax
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Insurance
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PMI
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Total Cost of Home
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Maryland Metro Area Home Prices
Click a metro to load its median price into the calculator above.
Yearly Amortization Schedule+
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Maryland's Tax Landscape and Your Mortgage
Maryland uses a progressive income tax with a top rate of 5.75%. A household earning $150,000 pays an estimated $5,606-$7,331 in state income tax, depending on filing status and deductions. That's $539/month less available for housing costs.
At the state's median home price of $410,000, the $1.05% property tax rate adds $359/month to your mortgage payment. That's $4,305/year — near the national median of ~1.1%.
Property Taxes Across Maryland
The 1.05% statewide average masks significant variation. Property tax rates vary significantly by county
Price ranges across the state: Baltimore has a median of $345,000, while Baltimore sits at $345,000 — a $0 gap that dramatically changes your monthly payment. At $1.05% property tax, that price difference alone means $0/month more in property tax in Baltimore.
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Homebuyer Programs and Exemptions
Maryland offers several programs for homebuyers:
Maryland Mortgage Program with below-market rates
Down payment assistance up to $5,000 for first-time buyers
Homestead exemption: Homestead Tax Credit caps annual assessment increases at 10% (some counties cap lower); Homeowner's Tax Credit for low-income
Maryland-Specific Considerations
All 23 counties and Baltimore City levy local income taxes (1.75–3.2% additional)
Combined state + local income tax can reach 8.95% in some jurisdictions
DC commuters face complex multi-state tax situations
Howard County and Montgomery County have some of the highest combined tax burdens in the nation
Property tax rates vary significantly by county
Compare Maryland Mortgage Rates
See personalized rates from Maryland lenders. LendingTree matches you with up to 5 offers so you can compare and save.
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Frequently Asked Questions
What is the average property tax rate in Maryland?
The average effective property tax rate in Maryland is 1.05%. On a $410,000 home (the state median), that works out to approximately $4,305/year or $359/month added to your mortgage payment. Property tax rates vary by county and school district within Maryland — always check your specific jurisdiction's rate. Homestead exemption: Homestead Tax Credit caps annual assessment increases at 10% (some counties cap lower); Homeowner's Tax Credit for low-income
How much does homeowners insurance cost in Maryland?
The average annual homeowners insurance premium in Maryland is approximately $1,450 ($121/month). This is near the national average of approximately $1,500/year. Actual premiums depend on your home's location, age, construction type, and coverage limits.
What first-time homebuyer programs are available in Maryland?
Maryland Mortgage Program with below-market rates. Down payment assistance up to $5,000 for first-time buyers. These programs typically have income limits, purchase price caps, and may require homebuyer education courses. Check the Maryland housing finance agency website for current eligibility requirements and application deadlines.
How does Maryland's 5.75% income tax affect home affordability?
Maryland's top income tax rate of 5.75% reduces your take-home pay, which affects how much mortgage you can comfortably carry. On a $150,000 salary, state income tax takes roughly $5,606-$7,331/year (effective rate is lower than the top marginal rate). Combined with 1.05% property tax, the total tax burden in Maryland is above average. Use our paycheck calculator to see your exact take-home pay.
What is the conforming loan limit in Maryland?
The 2026 conforming loan limit in Maryland is $806,500. Loans above this amount are considered jumbo loans and typically carry higher interest rates (0.25-0.5% premium), require larger down payments (10-20%), and have stricter qualification requirements including higher credit scores (700+) and lower debt-to-income ratios.
This calculator is for educational purposes. Tax rates and insurance costs are based on Maryland state averages and may not reflect your specific county, school district, or municipality. Consult a financial professional for advice specific to your situation.