Mortgage payment estimates, closing cost breakdowns, and homebuying data for Cumberland, Maryland.
Pre-filled with Cumberland median home price and Maryland tax/insurance rates. Adjust for your property.
Estimated closing costs based on Maryland rates and fees applied to Cumberland prices.
The median home price in Cumberland is $145,000, 65% below the Maryland state median of $420,000. With a population of 20,306, Cumberland is a smaller market where home prices tend to be more accessible than in many parts of Maryland.
Property taxes in Maryland average 1.09% annually. This moderate property tax rate means a $145,000 home in Cumberland would carry roughly $132/month in property taxes. Homeowners insurance in Maryland runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Cumberland is $820/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Cumberland over the long term.
Cumberland offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Maryland's MD Mortgage Program program.