How Much House Can I Afford in Maryland on $85K?
Based on Maryland's 1.09% property tax rate and $1,700/yr homeowners insurance.
Can You Afford the Median Home in Maryland?
The median home in Maryland ($420K) exceeds your $279K budget by $141K. But many areas in Maryland have homes well below the median. Check the affordable cities below for areas within your budget.
Affordable Cities in Maryland on $85K
These Maryland cities have median home prices within your $279K budget.
Up to $25,000 DPA. First-time buyers in Maryland should explore this program to reduce upfront costs. Combined with your $279K budget, state assistance can significantly lower the cash you need to close.
Buying a Home in Maryland on $85K
In Maryland, your $85K salary buys roughly the same as the national average. With a 1.09% property tax rate and $1,700/yr insurance, your maximum affordable price is $279K, close to the $278K you would get using national averages. This means Maryland's overall housing costs are in line with most of the country.
Maryland's combination of 1.09% property taxes and $1,700/yr insurance puts it in the moderate-cost category. Your $279K budget gives you a solid starting point, though you will be looking below the $420K state median. Focus on cities and neighborhoods where your budget represents strong buying power — in many parts of Maryland, $279K buys a well-maintained home in a good school district.
Budget $11K for closing costs in Maryland (roughly 2.5% of the purchase price). Combined with your $27,917 down payment, you will need approximately $38K in cash to close. MD Mortgage Program may help offset these costs — contact them early in the process to understand eligibility and timelines. Get pre-approved with a Maryland-based lender who understands local programs and can close efficiently.