How Much House Can I Afford in Maryland? 2026 Numbers by County
In Maryland, the county you buy in changes both the price and the property tax you qualify with.
Short answer: at the September 2026 average rate of 7.03 percent with 5 percent down, a Maryland household earning $100,000 with no other debts can afford about $375,000 if the payment stays at 36 percent of income, or about $473,000 at 45 percent. Buying the typical home takes roughly $161,000 of income in Montgomery County, $133,000 in Anne Arundel, $113,000 in Prince George’s and $97,000 in Baltimore County, using the same 36 percent test.
By Ken Byrne, NMLS #187129 · ALCOVA Mortgage LLC, NMLS #40508 · Updated September 2026
What you can afford in Maryland depends on four things: your income, your monthly debts, your down payment and the county, because among the counties in this guide, property tax rates run from under $1 per $100 of value in St. Mary’s County to $2.36 in Baltimore City. This guide works through the math with 2026 home values, tax rates and loan limits for 12 Maryland counties and Baltimore City, plus the state programs that stretch a budget. To test your own numbers, talk to JB Financing, the Ken Byrne Team at ALCOVA Mortgage.
Working with a smaller budget? See how much house you can afford on a $60K salary, with county-by-county estimates for the DMV.
How lenders decide what you can afford
Lenders compare your total monthly debts, including the new house payment, with your gross monthly income. That is your debt-to-income ratio, or DTI. The house payment includes principal, interest, property tax, homeowners insurance, mortgage insurance if you put less than 20 percent down, and any HOA or condo dues.
| Program | Maximum debt-to-income ratio |
|---|---|
| Conventional, approved through Fannie Mae’s automated system | Up to 50% |
| Conventional, manually underwritten | 36%, or up to 45% with strong credit and reserves |
| FHA, manually underwritten | 43%, or up to 50% with two compensating factors |
| FHA and VA, automated approval | Can be higher, depending on the full file |
Fannie Mae Selling Guide B3-6-02; HUD Handbook 4000.1. A lender can set lower limits.
Being approved at 45 or 50 percent does not mean the payment will feel comfortable. The tables below show two levels: 36 percent, a conservative budget, and 45 percent, a stretch many buyers can still get approved for.
How much house can I afford in Maryland by salary?
| Household income | Price at 36% (most counties) | Price at 45% (most counties) | Price at 36%, Baltimore City |
|---|---|---|---|
| $75,000 | $278,000 | $351,000 | $245,000 |
| $100,000 | $375,000 | $473,000 | $331,000 |
| $125,000 | $473,000 | $595,000 | $416,000 |
| $150,000 | $570,000 | $717,000 | $502,000 |
| $200,000 | $766,000 | $961,000 | $674,000 |
Conventional loan, 5% down, 30-year fixed at 7.03% (Freddie Mac average, September 24, 2026), no other debts. "Most counties" uses Prince George’s County’s $1.112 tax rate; results for Montgomery, Anne Arundel, Frederick and Baltimore County land within about $12,000. At $200,000 and 45%, the loan tops $832,750, which is a jumbo loan in Anne Arundel, Baltimore County and other Baltimore-area counties. Mortgage insurance at 0.53% a year (one insurer’s published rate for a 740 to 759 score); homeowners insurance $116 a month (Maryland average, NAIC). Your quote will differ.
Here is the $100,000 example at 45 percent in Prince George’s County: a $473,000 home with $23,650 down and a $449,350 loan costs about $3,750 a month, made up of $2,999 principal and interest, $198 mortgage insurance, $438 property tax and $116 insurance. The same buyer using FHA with 3.5 percent down lands near $459,000, because FHA adds an upfront and an annual premium.
Every $100 of monthly debt, from a car loan to a student loan, takes roughly $13,000 off the price at these rates. How lenders count each debt is explained in our debt-to-income guide.
Get a Mortgage Estimate for Free
See the price and payment your income supports in the Maryland county you want.
✓Free, no obligation✓Licensed in VA, MD, DC and WV✓Loan officer Ken Byrne, NMLS #187129
Income needed and property tax rates by Maryland county
| County | Typical home value | Tax per $100 | Monthly payment | Income needed at 36% | At 45% |
|---|---|---|---|---|---|
| Howard | $632,563 | $1.362* | $5,110 | $170,000 | $136,000 |
| Montgomery | $611,206 | $1.152 | $4,834 | $161,000 | $129,000 |
| Anne Arundel | $506,653 | $1.080 | $3,997 | $133,000 | $107,000 |
| Frederick | $498,471 | $1.222 | $3,993 | $133,000 | $106,000 |
| Carroll | $490,967 | $1.130 | $3,897 | $130,000 | $104,000 |
| Calvert | $483,223 | $1.079 | $3,817 | $127,000 | $102,000 |
| Charles | $446,976 | $1.317 | $3,628 | $121,000 | $97,000 |
| St. Mary’s | $435,173 | $0.960 | $3,405 | $114,000 | $91,000 |
| Prince George’s | $425,252 | $1.112 | $3,384 | $113,000 | $90,000 |
| Harford | $418,251 | $1.090 | $3,323 | $111,000 | $89,000 |
| Baltimore County | $360,630 | $1.212 | $2,918 | $97,000 | $78,000 |
| Washington | $328,816 | $1.040 | $2,623 | $87,000 | $70,000 |
| Baltimore City | $183,320 | $2.360 | $1,716 | $57,000 | $46,000 |
Typical values: Zillow Home Value Index, August 31, 2026. Tax rates: Maryland SDAT 2026-2027 rate table, county plus the $0.112 state rate, outside municipalities; towns add their own rate. *Howard includes the fire tax at its FY2026 rate of $0.206. Montgomery’s total varies by district. Payment: 5% down conventional at 7.03% with the mortgage and homeowners insurance assumptions above.
Tax rates matter more than they look. On a $400,000 home, Baltimore City’s $2.36 rate costs about $467 a month more than St. Mary’s $0.96. Maryland also caps how fast your taxable assessment can rise each year through the Homestead Tax Credit, at 10 percent or less depending on the county, once you apply for it on your primary home.
Maryland loan limits for 2026
Where you buy also sets how big a conforming loan can be. Montgomery, Prince George’s, Frederick and Charles counties are in the Washington metro area, where the 2026 limit for a one-unit home is $1,249,125. Howard, Anne Arundel, Baltimore County, Baltimore City, Harford, Carroll, St. Mary’s and Washington counties use the national $832,750 limit, and Calvert’s is $1,209,750. A loan above your county’s limit is a jumbo loan with different rules; the trade-offs are in our guide to jumbo vs conforming loans.
In Montgomery County, eligible moderate-income buyers can also look at price-controlled homes through the MPDU program.
FHFA 2026 conforming loan limits, county file.
Home values and tax rates both vary widely from one Maryland county to the next.
Maryland Mortgage Program help for first-time buyers
The state’s Maryland Mortgage Program pairs a 30-year fixed first mortgage with down payment help. Most options are for first-time buyers, defined as not having owned a home in the past three years, with exceptions in targeted areas.
| Area | Income limit, 1 or 2 people | 3 or more people | Maximum price |
|---|---|---|---|
| Montgomery, Prince George’s, Frederick, Charles | $199,320 | $232,540 | $1,306,974 |
| Howard, Anne Arundel, Baltimore County, Harford, Carroll | $140,759 | $161,873 | $782,118 |
| Baltimore City (all targeted) | $164,520 | $191,940 | $955,922 |
| Calvert | $190,320 | $222,040 | $1,255,921 |
| St. Mary’s | $141,600 | $162,840 | $566,354 |
Maryland Mortgage Program 2026 income and purchase price limits, effective June 24, 2026. Targeted areas in some counties have higher limits. Mortgage amounts are also capped, for example $747,500 in the Baltimore area.
| Program | What it provides |
|---|---|
| 1st Time Advantage $6,000 | $6,000 toward down payment and closing costs |
| 1st Time Advantage 3%, 4% or 5% | 3% to 5% of the loan amount |
| HomeStart | 6% of the loan amount |
| Partner Match | Up to $2,500 more, matching an eligible local or employer program |
| SmartBuy 3.0 | Pays off student debt up to 15% of the price, capped at $25,000 |
Maryland Mortgage Program down payment assistance pages and SmartBuy 3.0 fact sheet (June 2026). The assistance is a 0% deferred loan, repaid when you sell, refinance or pay off the first mortgage; SmartBuy is forgiven at 20% a year over five years.
Program rates ran from 7.125 to 8.125 percent on the September 30, 2026 rate sheet, so the assistance can come with a higher rate than a standard loan. Compare the total cost. Program by program details are in our guide to the Maryland Mortgage Program.
In Baltimore City, the Live Near Your Work program matches employer contributions of $1,000 to $2,500 for employees of participating employers, and other city incentives are listed by the Department of Housing and Community Development, subject to remaining funds.
Get Pre-Approved Today
Get pre-approved and check Maryland Mortgage Program help before you shop.
✓Free, no obligation✓Licensed in VA, MD, DC and WV✓Loan officer Ken Byrne, NMLS #187129
FHA, VA and conventional: which stretches your budget?
| Loan | Minimum down | Mortgage insurance | 2026 limit in DC-area Maryland counties |
|---|---|---|---|
| Conventional | 3% for first-time or HomeReady-eligible buyers, 5% otherwise | Monthly, can be removed later | $1,249,125 |
| FHA | 3.5% with a 580 score | Upfront 1.75% plus annual premium | $1,249,125 |
| VA | None with full entitlement | None; a funding fee applies unless exempt | No limit with full entitlement |
| USDA | None | Guarantee fee | Eligible rural areas only |
Fannie Mae Eligibility Matrix; HUD Mortgagee Letters 2023-05 and 2025-23; VA.gov; FHFA. Baltimore-area FHA limits are lower.
FHA limits and rules for each county are in our guide to FHA loan limits in Maryland.
Closing costs to budget in Maryland
Maryland transfer and recordation taxes are substantial and vary by county. By default the buyer and seller split them. A first-time Maryland buyer who will live in the home gets a better deal: the state transfer tax drops to 0.25 percent and the seller pays it, and the seller also pays the county transfer and recordation taxes unless the contract says otherwise. Title, settlement and lender charges still apply. Rates for 13 counties are in our guide to closing costs in Maryland.
Local guides for Maryland buyers
In Montgomery County, where the typical home tops $600,000, see our Montgomery County mortgage guide.
In Frederick County, see our Frederick County buyer guide.
Six steps to your real Maryland budget
| Step | What to do |
|---|---|
| 1. Add up your debts | Every monthly payment on your credit report, plus child support or alimony |
| 2. Pick a comfortable payment | Many buyers aim near 36% of gross income, even if approved for more |
| 3. Choose the county | Use its tax rate and typical HOA or condo dues |
| 4. Check program eligibility | Compare your income with the Maryland Mortgage Program limits |
| 5. Plan the cash | Down payment, closing costs and reserves |
| 6. Get pre-approved | A lender verifies income, credit and assets and confirms the number |
Frequently asked questions
How much house can I afford in Maryland on a $100,000 salary?
About $375,000 with 5 percent down if the payment stays at 36 percent of income, or about $473,000 at 45 percent, with no other debts and a 7.03 percent rate. In Baltimore City the higher tax rate lowers that to about $331,000 at 36 percent.
What salary do I need to buy a house in Maryland?
To buy the typical Maryland home with 5 percent down at 36 percent of income, about $113,000 in Prince George’s County, $133,000 in Anne Arundel and $161,000 in Montgomery. Lenders may approve less income at a higher debt-to-income ratio.
How much do I need for a down payment in Maryland?
As little as 3 percent on a conventional loan for an eligible first-time buyer, 3.5 percent on FHA and nothing on VA or USDA. Maryland Mortgage Program assistance can cover part of it.
What is the property tax rate in Maryland?
It depends on the county. For 2026 to 2027, totals including the state rate run from about $0.89 per $100 in Wicomico County to $2.36 in Baltimore City; among the counties in this guide, from $0.96 in St. Mary’s County. Towns add their own rates.
What is the conforming loan limit in Maryland in 2026?
$1,249,125 for a one-unit home in Montgomery, Prince George’s, Frederick and Charles counties, $1,209,750 in Calvert, and $832,750 in the rest of the state.
Does Maryland SmartBuy still pay off student loans?
Yes. Since June 1, 2026, SmartBuy 3.0 can pay off student debt up to 15 percent of the price, capped at $25,000, as a loan forgiven over five years.
Do first-time buyers pay transfer tax in Maryland?
Not by default. If you have never owned a Maryland home as your principal residence and will live in this one, the state transfer tax drops to 0.25 percent and the seller pays it. The seller also pays the county transfer and recordation taxes unless the contract says otherwise. This definition differs from the Maryland Mortgage Program’s three-year rule.
Is the 28/36 rule still used?
As a guideline. Fannie Mae’s automated approvals allow a total ratio up to 50 percent, and manual approvals use 36 to 45 percent. Many buyers still aim near 36 percent to keep room in the budget.
How much does $100 of monthly debt reduce what I can afford?
At a 7.03 percent rate, roughly $13,000 of purchase price for every $100 of monthly debt.
Next stepStart Your Pre-Approval
Start online, and Ken Byrne’s team will run your numbers for any Maryland county.
✓Free, no obligation✓Licensed in VA, MD, DC and WV✓Loan officer Ken Byrne, NMLS #187129
This article is general information, not financial or legal advice and not a commitment to lend or an offer of credit. Loan limits, program rules, premium schedules and rates change, and individual eligibility depends on a full review of your credit, income, assets and the property. Every figure here is an illustration, not a quote, built from published sources and a weekly survey average rather than underwriting decisions. Insurance and mortgage insurance amounts are planning estimates. Confirm anything you plan to act on with a licensed mortgage professional. Home values, tax rates, loan limits and program limits were checked against official sources on September 30, 2026. Payments are estimates at a 7.03 percent rate.
Categories
Recent Posts
GET MORE INFORMATION
Broker Associate