Mortgage payment estimates, closing cost breakdowns, and homebuying data for Annapolis, Maryland.
Median Home Price
$485K
Population
41K
Avg Monthly Rent
$1,850
Property Tax Rate
1.09% *
* Property tax shown is the Maryland state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Annapolis.
Annapolis vs Maryland Median
The median home price in Annapolis is $485,000, which is 15% above the Maryland state median of $420,000.
Mortgage Calculator — Annapolis, MD
Pre-filled with Annapolis median home price and Maryland tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $485K home using Maryland's 1.09% tax rate and $1,700/yr insurance.
5% Down
$3,763/mo
Down: $24,250
Loan: $461K
P&I: $2,912
Tax: $441
Insurance: $142
PMI: $269
10% Down
$3,596/mo
Down: $48,500
Loan: $437K
P&I: $2,759
Tax: $441
Insurance: $142
PMI: $255
20% Down (No PMI)
$3,035/mo
Down: $97,000
Loan: $388K
P&I: $2,452
Tax: $441
Insurance: $142
Income needed (28% rule): $130K/year with 20% down, $154K/year with 10% down.
Rent vs Buy in Annapolis
Rent
$1,850/mo
vs
Buy (10% down)
$3,596/mo
Price-to-rent ratio: 21.8 — At a ratio above 20, renting may be more economical in Annapolis for shorter stays. Buying costs $1,746 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Annapolis is $485,000, 15% above the Maryland state median of $420,000. With a population of 40,812, Annapolis is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Maryland average 1.09% annually. This moderate property tax rate means a $485,000 home in Annapolis would carry roughly $441/month in property taxes. Homeowners insurance in Maryland runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Annapolis is $1,850/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Annapolis is a higher-cost market. At $485K median, buyers need significant savings or strong income. Down payment assistance through Maryland's MD Mortgage Program program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Annapolis.