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Counties with the lowest home prices in Maryland

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June 8, 2021
Arina P Habich // Shutterstock

Counties with the lowest home prices in Maryland

The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.

But all things are not equal when it comes to real estate in the United States.

Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Maryland. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.

The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency's House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.

Keep reading to discover which county in Maryland has the lowest home prices.

#24. Montgomery County

- Monthly mortgage payment in 2020: $1,922 (9.8% less than 2019)
- Monthly mortgage payment in 2019: $2,130
- Median home value in 2020: $519,100
- Ranked #3,068 out of 3,120 counties nationwide

#23. Howard County

- Monthly mortgage payment in 2020: $1,867 (10.3% less than 2019)
- Monthly mortgage payment in 2019: $2,081
- Median home value in 2020: $504,200
- Ranked #3,064 out of 3,120 counties nationwide

#22. Anne Arundel County

- Monthly mortgage payment in 2020: $1,439 (11.3% less than 2019)
- Monthly mortgage payment in 2019: $1,622
- Median home value in 2020: $388,500
- Ranked #3,003 out of 3,120 counties nationwide

#21. Calvert County

- Monthly mortgage payment in 2020: $1,438 (8.9% less than 2019)
- Monthly mortgage payment in 2019: $1,579
- Median home value in 2020: $388,300
- Ranked #3,002 out of 3,120 counties nationwide

#20. Carroll County

- Monthly mortgage payment in 2020: $1,377 (9.5% less than 2019)
- Monthly mortgage payment in 2019: $1,522
- Median home value in 2020: $372,000
- Ranked #2,983 out of 3,120 counties nationwide

#19. Queen Anne's County

- Monthly mortgage payment in 2020: $1,367 (10.1% less than 2019)
- Monthly mortgage payment in 2019: $1,520
- Median home value in 2020: $369,300
- Ranked #2,976 out of 3,120 counties nationwide

#18. Frederick County

- Monthly mortgage payment in 2020: $1,334 (9.6% less than 2019)
- Monthly mortgage payment in 2019: $1,475
- Median home value in 2020: $360,300
- Ranked #2,963 out of 3,120 counties nationwide

#17. Talbot County

- Monthly mortgage payment in 2020: $1,324 (8.2% less than 2019)
- Monthly mortgage payment in 2019: $1,442
- Median home value in 2020: $357,400
- Ranked #2,959 out of 3,120 counties nationwide

#16. Prince George's County

- Monthly mortgage payment in 2020: $1,293 (7.4% less than 2019)
- Monthly mortgage payment in 2019: $1,396
- Median home value in 2020: $349,100
- Ranked #2,949 out of 3,120 counties nationwide

#15. Charles County

- Monthly mortgage payment in 2020: $1,268 (8.7% less than 2019)
- Monthly mortgage payment in 2019: $1,389
- Median home value in 2020: $342,300
- Ranked #2,942 out of 3,120 counties nationwide

#14. St. Mary's County

- Monthly mortgage payment in 2020: $1,260 (6.5% less than 2019)
- Monthly mortgage payment in 2019: $1,348
- Median home value in 2020: $340,400
- Ranked #2,938 out of 3,120 counties nationwide

#13. Harford County

- Monthly mortgage payment in 2020: $1,195 (7.9% less than 2019)
- Monthly mortgage payment in 2019: $1,298
- Median home value in 2020: $322,900
- Ranked #2,908 out of 3,120 counties nationwide

#12. Baltimore County

- Monthly mortgage payment in 2020: $1,063 (9.8% less than 2019)
- Monthly mortgage payment in 2019: $1,179
- Median home value in 2020: $287,200
- Ranked #2,819 out of 3,120 counties nationwide

#11. Worcester County

- Monthly mortgage payment in 2020: $1,030 (7.3% less than 2019)
- Monthly mortgage payment in 2019: $1,111
- Median home value in 2020: $278,300
- Ranked #2,793 out of 3,120 counties nationwide

#10. Cecil County

- Monthly mortgage payment in 2020: $1,007 (5.5% less than 2019)
- Monthly mortgage payment in 2019: $1,066
- Median home value in 2020: $271,900
- Ranked #2,766 out of 3,120 counties nationwide

#9. Kent County

- Monthly mortgage payment in 2020: $982 (7.5% less than 2019)
- Monthly mortgage payment in 2019: $1,062
- Median home value in 2020: $265,200
- Ranked #2,749 out of 3,120 counties nationwide

#8. Washington County

- Monthly mortgage payment in 2020: $836 (9.5% less than 2019)
- Monthly mortgage payment in 2019: $924
- Median home value in 2020: $225,800
- Ranked #2,560 out of 3,120 counties nationwide

#7. Caroline County

- Monthly mortgage payment in 2020: $796 (8.3% less than 2019)
- Monthly mortgage payment in 2019: $868
- Median home value in 2020: $214,900
- Ranked #2,499 out of 3,120 counties nationwide

#6. Wicomico County

- Monthly mortgage payment in 2020: $763 (1.3% greater than 2019)
- Monthly mortgage payment in 2019: $753
- Median home value in 2020: $206,000
- Ranked #2,431 out of 3,120 counties nationwide

#5. Dorchester County

- Monthly mortgage payment in 2020: $720 (7.7% less than 2019)
- Monthly mortgage payment in 2019: $780
- Median home value in 2020: $194,500
- Ranked #2,347 out of 3,120 counties nationwide

#4. Baltimore city

- Monthly mortgage payment in 2020: $694 (5.3% less than 2019)
- Monthly mortgage payment in 2019: $733
- Median home value in 2020: $187,300
- Ranked #2,292 out of 3,120 counties nationwide

#3. Garrett County

- Monthly mortgage payment in 2020: $683 (7.5% less than 2019)
- Monthly mortgage payment in 2019: $738
- Median home value in 2020: $184,600
- Ranked #2,265 out of 3,120 counties nationwide

#2. Somerset County

- Monthly mortgage payment in 2020: $544 (10.5% less than 2019)
- Monthly mortgage payment in 2019: $608
- Median home value in 2020: $146,900
- Ranked #1,723 out of 3,120 counties nationwide

#1. Allegany County

- Monthly mortgage payment in 2020: $476 (4.6% less than 2019)
- Monthly mortgage payment in 2019: $499
- Median home value in 2020: $128,400
- Ranked #1,396 out of 3,120 counties nationwide

This story originally appeared on and was produced and distributed in partnership with Stacker Studio.

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