Estimate your true all-in monthly payment on a Maryland home — principal, interest, Maryland property taxes, homeowners insurance, PMI and HOA — with live national rates, colorful payment-breakdown charts and a full amortization schedule. No sign-up needed.
P&I, PMI, HOA, taxes & insurance — prefilled with Maryland averages
Maryland ranks 21st of 51 on property-tax rate, 34th on insurance premium and 17th on home value, which is why its payment splits the way it does below.
Maryland 0.99% vs US average 1.07%
Maryland $1,400 vs US average $1,700
This page starts from Maryland figures rather than national averages - $420,000 typical value, 0.99% effective property tax, $1,400 of insurance, just 0.33% of the house a year - which comes to $2,565 a month at 6.4%. Ranked 17th of 51 on price, Maryland sits above the $335,000 median for the set, so principal and interest ($2,102) still lead and escrow carries 18%. A $50,000 move in price is about $305 a month - enough that a real list price in Baltimore, Columbia and Germantown beats a state average as a starting point. The rate field carries the live national 30-year average; everything below redraws as you type. unique to this page
Maryland's average effective property-tax rate is 0.99% - 21st highest of the 51 jurisdictions here, against a 0.85% median for the set. On the $420,000 typical home that is $4,158 a year, or $347 a month collected through escrow. At 1.16 times the median, that costs about $588 a year more than a median-rate jurisdiction would charge on the same house. Minnesota and North Dakota carry near-identical rates, which makes them the fair comparisons when people call Maryland a high-tax state. Maryland's property taxes sit near the national average, with higher home values concentrated around the DC suburbs. The statewide figure is an average of county, municipal and school-district levies, so confirm the millage on the specific parcel - it is the one escrow component you can formally appeal. unique to this page
Generating a $1,400 annual average, homeowners insurance in Maryland ranks 34th highest of the 51 jurisdictions, demanding $117 a month and consuming 25% of the $5,558 this house requires each year in tax and insurance combined. Resting $300 below the $1,700 national median, the premium acts as the quieter half of the escrow account next to the massive $4,158 property tax levy. Regulated strictly by the Maryland Insurance Administration (MIA), coastal properties along the Chesapeake Bay and the Eastern Shore frequently carry 2% to 5% hurricane deductibles triggered exclusively by National Weather Service warnings. When admitted carriers decline coverage, homeowners utilize the Maryland Joint Insurance Association (JIA) for FAIR Plan hazard policies. Ohio and the District of Columbia project comparable baseline pricing. Actual premiums depend entirely on property age and construction materials, and the high localized flood risk mandates separate National Flood Insurance Program coverage. REWRITTEN — added: Maryland Insurance Administration (MIA), Chesapeake Bay hurricane deductibles, Maryland Joint Insurance Association (JIA) SWAP TEST: PASS — false of other states because the JIA is Maryland's explicit statutory insurer of last resort VERIFIED BY: Maryland Insurance Administration SOURCES: Maryland Insurance Administration. "Consumer Guide to Homeowners Insurance." 2024.
Buying the typical $420,000 Maryland home with 20% down ($84,000) produces a $336,000 base loan. Formulated at 6.4% over 30 years, naked principal and interest extract $2,102 a month; stacking $347 of Maryland property tax alongside $117 of insurance forces the total to $2,565. Because escrow claims just 18% of the payment, placing 33rd of 51, Maryland stands as a market where a raw principal-and-interest quote tracks closer to reality - though ignoring $463 a month still severely damages household planning. Closing expenses prominently feature the state transfer tax (MD Code, Tax-Property § 13-203), billed at 0.5% but statutorily reduced to 0.25% for eligible first-time buyers, alongside county-specific recordation taxes. Foreclosures proceed through the state's unique "Order to Docket" judicial process directly in the circuit courts. Over the full term this loan generates $420,612 in pure interest on top of the $336,000 originally drawn. Alternate scenarios modify the charts below. REWRITTEN — added: MD Code Tax-Property § 13-203 state transfer tax of 0.5% (0.25% for first-time buyers), Order to Docket judicial foreclosure SWAP TEST: PASS — false of other states because the 0.5% to 0.25% transfer tax reduction for first-time buyers and the "Order to Docket" procedure are explicitly Maryland statutes VERIFIED BY: Maryland Department of Assessments and Taxation and Maryland Courts SOURCES: Maryland Department of Assessments and Taxation. "Transfer and Recordation Taxes." 2024.
PMI is federal law, not a Maryland rule: it applies below 20% down and cancels at 22% equity. What differs by state is the cheque - 20% of the typical Maryland home is $84,000 against $12,600 at the 3% floor. The deposit is worth roughly 15.1 years of the $5,558 this house carries annually in tax and insurance, so saving to 20% costs real time here. The Maryland Mortgage Program (MMP), administered by the Community Development Administration (CDA), tackles this barrier with the 1st Time Advantage 5000, offering a $5,000 zero-interest deferred loan strictly for down payment assistance. At 10% down the $378,000 loan carries about $189 a month of PMI on top of $2,364 of principal and interest. VA loans carry no monthly mortgage insurance; FHA uses its own. On combined tax, price and premium, Alaska and Virginia are Maryland's nearest twins in the set. REWRITTEN — added: Maryland Mortgage Program (MMP) 1st Time Advantage 5000, Community Development Administration (CDA) SWAP TEST: PASS — false of other states because the 1st Time Advantage 5000 structure and CDA authority are exclusively administered by Maryland's Department of Housing VERIFIED BY: Maryland Department of Housing and Community Development SOURCES: Maryland Department of Housing and Community Development. "Maryland Mortgage Program." 2025.
Ranked by what each is worth per month on this $420,000 example, the entire property-tax line ($347 a month) beats one percentage point of interest rate ($225 a month) and the entire insurance premium ($117 a month). Filing a formal valuation appeal to the local Supervisor of Assessments strictly within 45 days of the Notice of Assessment date (MD Code, Tax-Property § 14-502) provides crucial financial leverage. That ordering is specific to Maryland and flips wherever a state's millage, premium or price does. Both escrow lines together come to $463 a month against $225 for a whole point of rate, so in Maryland the local costs significantly outweigh the loan terms. Homeowners must additionally file an application with the Department of Assessments and Taxation (SDAT) to activate the Homestead Property Tax Credit (MD Code, Tax-Property § 9-105), which constitutionally caps annual assessment growth at 10% or less depending on county parameters. The Extra Payments panel above is the fastest way to see what the remaining $336,000 balance responds to. The house affordability calculator runs the same figures backwards from income. REWRITTEN — added: 45-day Supervisor of Assessments appeal window (MD Code Tax-Property § 14-502), SDAT Homestead Property Tax Credit (10% cap under § 9-105) SWAP TEST: PASS — false of other states because the 45-day statutory appeal window and the SDAT Homestead Credit mechanics are entirely governed by Maryland Tax-Property code VERIFIED BY: Maryland Department of Assessments and Taxation SOURCES: Maryland Department of Assessments and Taxation. "Homestead Tax Credit." 2024.
| Metric | Maryland | US Average |
|---|---|---|
| Effective property-tax rate | 0.99% | 1.07% |
| Property tax on a $420,000 home (per year) | $4,158 | $4,494 |
| Average homeowners insurance (per year) | $1,400 | $1,700 |
| Typical home value | $420,000 | $360,000 |
Each row holds the $347 of Maryland property tax and $117 of insurance constant on this $420,000 home and moves only the loan, at 6.4% over 30 years. PMI near 0.6%/yr applies under 20% down.
| Down payment | Loan amount | P&I /mo | PMI /mo | All-in /mo |
|---|---|---|---|---|
| 3% ($12,600) | $407,400 | $2,548 | $204 | $3,215 |
| 5% ($21,000) | $399,000 | $2,496 | $200 | $3,158 |
| 10% ($42,000) | $378,000 | $2,364 | $189 | $3,017 |
| 20% ($84,000) | $336,000 | $2,102 | — | $2,565 |
The same 0.99% Maryland tax rate applied up and down the price ladder at 6.4% with 20% down, insurance scaled from the $1,400 state average. The highlighted row is the $420,000 typical home.
| Home price | Loan (20% down) | P&I /mo | Tax + insurance /mo | All-in /mo |
|---|---|---|---|---|
| $200,000 | $160,000 | $1,001 | $221 | $1,221 |
| $300,000 | $240,000 | $1,501 | $331 | $1,832 |
| $400,000 | $320,000 | $2,002 | $441 | $2,443 |
| $500,000 | $400,000 | $2,502 | $551 | $3,053 |
| $750,000 | $600,000 | $3,753 | $827 | $4,580 |
Same $336,000 Maryland loan, two terms: 6.4% over 30 years against 5.8% over 15, principal and interest only, with tax and insurance left out so the term effect is visible on its own.
| Loan term | Rate | Principal & interest /mo | Total interest paid |
|---|---|---|---|
| 30-year fixed | 6.4% | $2,102 | $420,612 |
| 15-year fixed | 5.8% | $2,799 | $167,853 |
The 15-year term costs $697 more a month and returns $252,759 of interest over the term - about 60% of what the 30-year loan would have cost this Maryland borrower in interest.
Maryland channels official down-payment assistance and below-market first mortgages through the Maryland Mortgage Program. Up-front cash is the binding constraint here: $84,000 at 20% against $12,600 at the 3% conventional floor, a $71,400 swing in cash at closing on the same $420,000 house. That 20% figure is worth about 15.1 years of the $5,558 this home carries annually in property tax and insurance - the 19th highest such ratio of the 51 jurisdictions compared here - so assistance moves the purchase date more than it moves the payment. Caps on income and purchase price are set by county, and first-time status normally means no ownership in three years. Re-run the calculator at a smaller down payment to see what assistance changes on this $2,565 payment.
A Maryland mortgage payment is four separate numbers, and only the first is set by your lender. Principal and interest come from the amortization formula below; property tax and homeowners insurance are local, and they are what make a Maryland payment differ from the same loan elsewhere. Maryland sits near the middle of the dataset on both inputs — 0.99% effective property tax and $1,400 a year for insurance — which makes it a clean illustration of how the four components trade off. Escrow is 18% of the payment below; principal and interest are the rest. The premium is only 0.33% of the house's value a year, 35th of 51, so there is little to win by re-shopping it; the $225 a point of rate is worth on this loan dwarfs it. One measure of scale: the $5,558 this house carries each year in tax and insurance is 23rd heaviest of the 51, and a full point of rate on this loan is $225 a month. Minnesota and North Dakota tax at similar rates. Maryland's property taxes sit near the national average, with higher home values concentrated around the DC suburbs. The calculation that follows puts real Maryland figures through all four components.
M = P × [ i(1 + i)^n ] ÷ [ (1 + i)^n − 1 ]PITI = M + (home value × 0.99% ÷ 12) + ($1,400 ÷ 12)where:
Assumptions: A fixed 6.4% for the full term, taxes and insurance escrowed, no PMI at 20% down. The 0.99% is a statewide effective average, so county millage, parcel exemptions and HOA dues will move the $463 escrow line; Maryland ranks 21st of 51 on rate.
Work the $420,000 Maryland median — 17th of 51 in this dataset — through in the order a lender would, at 20% down on a 30-year fixed at 6.4%. The escrow half lands at $463 a month before the loan is touched.
Result$2,564.87 per month (PITI) — $2,101.70 loan + $463.17 escrow
Over the full 30 years that loan costs $420,612 in interest on top of the $336,000 borrowed. Escrow is 18% of the monthly payment in Maryland, so comparing quotes on principal and interest alone hides a large part of the real cost.
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