How Much House Can I Afford in Maryland on $30K?
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 $69K budget by $351K. But many areas in Maryland have homes well below the median. Check the affordable cities below for areas within your budget.
Most Affordable Cities in Maryland
No tracked cities in Maryland have a median below your $69K budget. Here are the most affordable options.
Up to $25,000 DPA. First-time buyers in Maryland should explore this program to reduce upfront costs. Combined with your $69K budget, state assistance can significantly lower the cash you need to close.
Buying a Home in Maryland on $30K
In Maryland, your $30K 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 $69K, close to the $68K 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 $69K 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, $69K 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 $6,948 down payment, you will need approximately $17K 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.