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The median home value in Maryland is $380,000. D.C. suburbs have remained among the most resilient housing markets nationally, with steady demand from federal government workers. Baltimore city is significantly more affordable.
The conforming loan limit is $1,089,300. Montgomery and Howard counties qualify for the maximum high-cost conforming limit. Other Maryland counties are at $726,200. Loans up to this amount qualify for standard Fannie Mae/Freddie Mac rates. Above this is jumbo territory with stricter requirements.
At the median home value of $380,000 with a 20% down payment ($76,000), you'd borrow $304,000. At 7% for 30 years, principal and interest runs approximately $2,023/month. Add property taxes (~$345/mo) and insurance (~$150/mo) for a total PITI estimate.
Budget for Maryland's effective property tax rate of 1.09% (avg. bill: $3,633/year). Lenders include taxes in your PITI calculation and collect them monthly in escrow.
First-time buyers in Maryland should budget for closing costs of approximately $5,400. Maryland has some of the highest closing costs in the US. Transfer taxes are 0.5% at the state level plus local taxes (1.5% in Baltimore City). The state also imposes recordation taxes.
Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.
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