Mortgage payment estimates, closing cost breakdowns, and homebuying data for Laurel, Maryland.
Median Home Price
$395K
Population
30K
Avg Monthly Rent
$1,580
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 Laurel.
Laurel vs Maryland Median
The median home price in Laurel is $395,000, which is 6% below the Maryland state median of $420,000.
Mortgage Calculator — Laurel, MD
Pre-filled with Laurel median home price and Maryland tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $395K home using Maryland's 1.09% tax rate and $1,700/yr insurance.
5% Down
$3,091/mo
Down: $19,750
Loan: $375K
P&I: $2,372
Tax: $359
Insurance: $142
PMI: $219
10% Down
$2,955/mo
Down: $39,500
Loan: $356K
P&I: $2,247
Tax: $359
Insurance: $142
PMI: $207
20% Down (No PMI)
$2,498/mo
Down: $79,000
Loan: $316K
P&I: $1,997
Tax: $359
Insurance: $142
Income needed (28% rule): $107K/year with 20% down, $127K/year with 10% down.
Rent vs Buy in Laurel
Rent
$1,580/mo
vs
Buy (10% down)
$2,955/mo
Price-to-rent ratio: 20.8 — At a ratio above 20, renting may be more economical in Laurel for shorter stays. Buying costs $1,375 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 Laurel is $395,000, 6% below the Maryland state median of $420,000. With a population of 29,567, Laurel 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 $395,000 home in Laurel would carry roughly $359/month in property taxes. Homeowners insurance in Maryland runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Laurel is $1,580/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.
Laurel presents moderate affordability. The $395K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Laurel.