Mortgage payment estimates, closing cost breakdowns, and homebuying data for Cumberland, Maryland.
Median Home Price
$145K
Population
20K
Avg Monthly Rent
$820
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 Cumberland.
Cumberland vs Maryland Median
The median home price in Cumberland is $145,000, which is 65% below the Maryland state median of $420,000.
Mortgage Calculator — Cumberland, MD
Pre-filled with Cumberland median home price and Maryland tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $145K home using Maryland's 1.09% tax rate and $1,700/yr insurance.
5% Down
$1,224/mo
Down: $7,250
Loan: $138K
P&I: $871
Tax: $132
Insurance: $142
PMI: $80
10% Down
$1,174/mo
Down: $14,500
Loan: $131K
P&I: $825
Tax: $132
Insurance: $142
PMI: $76
20% Down (No PMI)
$1,007/mo
Down: $29,000
Loan: $116K
P&I: $733
Tax: $132
Insurance: $142
Income needed (28% rule): $43K/year with 20% down, $50K/year with 10% down.
Rent vs Buy in Cumberland
Rent
$820/mo
vs
Buy (10% down)
$1,174/mo
Price-to-rent ratio: 14.7 — With a ratio under 15, buying in Cumberland is likely more cost-effective than renting if you plan to stay 3+ years. The monthly cost of buying is $354 more than renting, but you build equity with every payment.
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.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Cumberland.