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If you're looking for a merry land, go to Maryland.

Home Mortgage Rates in Maryland

Downtown Baltimore Inner Harbor.

Maryland mortgage rates tend to be slightly higher when compared to the nationwide average. In Maryland, the average monthly mortgage payment so far in 2010 is $1,561.00 per month compared to $1,295.00 for mortgages nationwide. The average home value in Maryland is $280,200 compared to $167,500 nationwide. There are about 2,273,793 housing units in Maryland of which 69 percent are owner occupied with the rest occupied by renters.

Places to Live

Metropolitan Areas

MD Rank US Rank Metropolitan Area 2016 Pop 2010 Pop Change % △
1 6 Washington-Arlington-Alexandria, DC-VA-MD-WV Metro Area 6,131,977 5,636,232 495,745 8.80%
2 7 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro Area 6,070,500 5,965,343 105,157 1.76%
3 21 Baltimore-Columbia-Towson 2,798,886 2,710,489 88,397 3.26%
4 135 Salisbury, MD-DE Metro Area 400,200 373,802 26,398 7.06%
5 183 Hagerstown-Martinsburg, MD-WV Metro Area 263,817 251,599 12,218 4.86%
6 353 California-Lexington Park 112,587 105,151 7,436 7.07%
7 384 Cumberland, MD-WV Metro Area 99,541 103,299 -3,758 -3.64%
8 734 Easton 37,278 37,782 -504 -1.33%
9 799 Cambridge 32,258 32,618 -360 -1.10%

Popular Cities & Towns in Maryland

Some of the more popular cities and towns in Maryland include Baltimore, Bethesda, Annapolis, Columbia, Rockville and Bowie.

Baltimore is the largest city in the state of Maryland with a population of 651,154 and a median family income in 2005 of $30,078. The city is the cultural capital of the state and the most popular travel destination. Known as the “Charm City,” Baltimore is steeped in history and has both an east coast and southern charm.

Annapolis Skyline.

Annapolis is another popular location in Maryland for people to reside that has plenty of history dating back to the Revolutionary War, when it served as the new nation’s capital. The city has more buildings still standing from that period than any other city in the United States. Annapolis is also known as the home of the United States Naval Academy. Both Baltimore and Annapolis are quite close to Washington D.C., the nation’s current capital.

Downtown Frederick From Baker Park.

The three counties of southern Maryland has been growing the faster than counties in the rest of the state. Montgomery County, the state’s most populous county, is projected to experience growth from 855,000 in 2000 to 946,000 by 2010.

Cities like Hagerstown and Bowie are among Maryland’s fastest growing population areas. These cities have been growing due to their prime location between other major urban areas like Baltimore, Washington D.C., and Annapolis.

Baltimore Harbor Aerial View.

Maryland Census Data

According to the United States Census an estimated 6,016,447 people live in the state of New Jersey. The state has 9,707.24 mi² of land area, which gave it a population density of 619.79 per mi². Here is a list of cities, towns, villages & Census Designated Places with more than 2,500 residents, with their estimated population as of June 2016 & the 2010 United States Census. For Census Designated Places (CDP) where there was no population estimate available for 2016 the 2011-2015 American Community Survey 5-Year Estimates data was used.

All table columns are sortable. Click on the column headers to sort by that column. Click again to sort low to high. Cities with higher levels of population growth typically see the increased demand drive faster real estate price appreciation.

Rank Geography County 2016 Pop 2010 Pop Change % △ Land mi² Pop Den mi²
1 Baltimore Baltimore city 614,664 620,961 -6,297 -1.01% 80.94 7,594.07
Columbia CDP Howard 103,055 99,615 3,440 3.45% 31.93 3,227.53
Germantown CDP Montgomery 89,826 86,395 3,431 3.97% 17 5,283.88
Silver Spring CDP Montgomery 77,460 71,452 6,008 8.41% 7.92 9,780.30
Waldorf CDP Charles 71,399 67,752 3,647 5.38% 36.22 1,971.26
2 Frederick Frederick 70,060 65,239 4,821 7.39% 21.99 3,185.99
Glen Burnie CDP Anne Arundel 68,550 67,639 911 1.35% 17.32 3,957.85
Ellicott City CDP Howard 68,513 65,834 2,679 4.07% 29.96 2,286.82
4 Gaithersburg Montgomery 67,776 59,933 7,843 13.09% 10.2 6,644.71
3 Rockville Montgomery 66,940 61,209 5,731 9.36% 13.51 4,954.85
Dundalk CDP Baltimore 62,349 63,597 -1,248 -1.96% 13.07 4,770.39
Bethesda CDP Montgomery 62,102 60,858 1,244 2.04% 13.29 4,672.84
5 Bowie Prince George's 58,393 54,727 3,666 6.70% 18.43 3,168.37
Towson CDP Baltimore 57,725 55,197 2,528 4.58% 14.15 4,079.51
Aspen Hill CDP Montgomery 52,607 48,759 3,848 7.89% 9.62 5,468.50
Wheaton CDP Montgomery 50,688 48,284 2,404 4.98% 6.9 7,346.09
North Bethesda CDP Montgomery 48,818 43,828 4,990 11.39% 8.85 5,516.16
Severn CDP Anne Arundel 47,432 44,231 3,201 7.24% 17.71 2,678.26
Bel Air South CDP Harford 46,955 47,709 -754 -1.58% 15.67 2,996.49
Potomac CDP Montgomery 45,945 44,965 980 2.18% 25.11 1,829.75
Catonsville CDP Baltimore 42,265 41,567 698 1.68% 13.96 3,027.58
6 Hagerstown Washington 40,452 39,662 790 1.99% 11.79 3,431.04
Woodlawn CDP Baltimore 40,390 37,879 2,511 6.63% 9.54 4,233.75
7 Annapolis Anne Arundel 39,418 38,394 1,024 2.67% 7.18 5,489.97
Clinton CDP Prince George's 39,336 35,970 3,366 9.36% 25 1,573.44
Odenton CDP Anne Arundel 38,374 37,132 1,242 3.34% 14.78 2,596.35
Severna Park CDP Anne Arundel 38,364 37,634 730 1.94% 16.49 2,326.50
Essex CDP Baltimore 38,256 39,262 -1,006 -2.56% 9.26 4,131.32
Chillum CDP Prince George's 37,150 33,513 3,637 10.85% 3.41 10,894.43
Olney CDP Montgomery 35,090 33,844 1,246 3.68% 16.19 2,167.39
Randallstown CDP Baltimore 34,088 32,430 1,658 5.11% 10.22 3,335.42
Owings Mills CDP Baltimore 33,732 30,622 3,110 10.16% 9.54 3,535.85
Montgomery Village CDP Montgomery 33,337 32,032 1,305 4.07% 4 8,334.25
9 Salisbury Wicomico 33,114 30,343 2,771 9.13% 13.4 2,471.19
8 College Park Prince George's 32,275 30,413 1,862 6.12% 5.64 5,722.52
Parkville CDP Baltimore 32,163 30,734 1,429 4.65% 4.29 7,497.20
Pikesville CDP Baltimore 32,149 30,764 1,385 4.50% 12.35 2,603.16
Bel Air North CDP Harford 31,871 30,568 1,303 4.26% 16.06 1,984.50
Eldersburg CDP Carroll 31,494 30,531 963 3.15% 39.69 793.50
Milford Mill CDP Baltimore 30,085 29,042 1,043 3.59% 6.94 4,335.01
Carney CDP Baltimore 29,196 29,941 -745 -2.49% 6.97 4,188.81
Perry Hall CDP Baltimore 28,633 28,474 159 0.56% 6.97 4,108.03
Crofton CDP Anne Arundel 27,934 27,348 586 2.14% 6.61 4,226.02
Reisterstown CDP Baltimore 27,637 25,968 1,669 6.43% 5.16 5,356.01
South Laurel CDP Prince George's 26,394 26,112 282 1.08% 8.15 3,238.53
Ilchester CDP Howard 26,304 23,476 2,828 12.05% 10.75 2,446.88
Lochearn CDP Baltimore 26,070 25,333 737 2.91% 5.59 4,663.69
Edgewood CDP Harford 26,060 25,562 498 1.95% 17.78 1,465.69
Pasadena CDP Anne Arundel 25,895 24,287 1,608 6.62% 14.94 1,733.27
10 Laurel Prince George's 25,853 25,115 738 2.94% 4.3 6,012.33
Middle River CDP Baltimore 25,816 25,191 625 2.48% 7.78 3,318.25
North Potomac CDP Montgomery 24,087 24,410 -323 -1.32% 6.52 3,694.33
11 Greenbelt Prince George's 23,909 23,068 841 3.65% 6.28 3,807.17
Suitland CDP Prince George's 23,824 25,825 -2,001 -7.75% 4.25 5,605.65
Fairland CDP Montgomery 23,673 23,681 -8 -0.03% 4.92 4,811.59
Fort Washington CDP Prince George's 23,611 23,717 -106 -0.45% 13.79 1,712.18
Landover CDP Prince George's 23,218 23,078 140 0.61% 4.07 5,704.67
Arnold CDP Anne Arundel 22,574 23,106 -532 -2.30% 10.82 2,086.32
North Laurel CDP Howard 22,217 4,474 17,743 396.58% 1.23 18,062.60
Arbutus CDP Baltimore 21,662 20,483 1,179 5.76% 6.52 3,322.39
Langley Park CDP Prince George's 21,049 18,755 2,294 12.23% 0.99 21,261.62
Cockeysville CDP Baltimore 20,603 20,776 -173 -0.83% 11.39 1,808.87
Camp Springs CDP Prince George's 20,339 19,096 1,243 6.51% 7.69 2,644.86
12 Cumberland Allegany 19,978 20,859 -881 -4.22% 10.08 1,981.94
Lake Shore CDP Anne Arundel 19,375 19,477 -102 -0.52% 13.45 1,440.52
Rosedale CDP Baltimore 19,029 19,257 -228 -1.18% 6.9 2,757.83
Calverton CDP Montgomery & Prince George's 18,747 17,724 1,023 5.77% 4.6 4,075.43
Clarksburg CDP Montgomery 18,709 13,766 4,943 35.91% 8.21 2,278.81
13 Westminster Carroll 18,671 18,590 81 0.44% 6.63 2,816.14
Ferndale CDP Anne Arundel 18,612 16,746 1,866 11.14% 3.98 4,676.38
Ballenger Creek CDP Frederick 18,490 18,274 216 1.18% 10.82 1,708.87
14 Hyattsville Prince George's 18,449 17,557 892 5.08% 2.67 6,909.74
Oxon Hill CDP Prince George's 18,437 17,722 715 4.03% 6.62 2,785.05
Beltsville CDP Prince George's 18,306 16,772 1,534 9.15% 7.16 2,556.70
White Oak CDP Montgomery 17,975 17,403 572 3.29% 3.78 4,755.29
Seabrook CDP Prince George's 17,839 17,287 552 3.19% 3.02 5,906.95
15 Takoma Park Montgomery 17,765 16,715 1,050 6.28% 2.08 8,540.87
Glassmanor CDP Prince George's 17,552 17,295 257 1.49% 2.35 7,468.94
Elkridge CDP Howard 17,550 15,593 1,957 12.55% 8.39 2,091.78
Redland CDP Montgomery 17,175 17,242 -67 -0.39% 7.06 2,432.72
Maryland City CDP Anne Arundel 17,060 16,093 967 6.01% 7.74 2,204.13
Parole CDP Anne Arundel 16,764 15,922 842 5.29% 10.27 1,632.33
16 Easton Talbot 16,550 15,945 605 3.79% 10.56 1,567.23
East Riverdale CDP Prince George's 16,242 15,509 733 4.73% 1.62 10,025.93
17 Elkton Cecil 15,744 15,443 301 1.95% 8.35 1,885.51
Glenmont CDP Montgomery 15,716 13,529 2,187 16.17% 2.8 5,612.86
18 Aberdeen Harford 15,612 14,959 653 4.37% 6.8 2,295.88
Adelphi CDP Prince George's 15,547 15,086 461 3.06% 2.74 5,674.09
Cloverly CDP Montgomery 15,485 15,126 359 2.37% 10.05 1,540.80
Hillcrest Heights CDP Prince George's 15,383 16,469 -1,086 -6.59% 2.49 6,177.91
Rossville CDP Baltimore 15,368 15,147 221 1.46% 5.37 2,861.82
Damascus CDP Montgomery 15,267 15,257 10 0.07% 11.56 1,320.67
Colesville CDP Montgomery 14,190 14,647 -457 -3.12% 5.03 2,821.07
Brooklyn Park CDP Anne Arundel 14,042 14,373 -331 -2.30% 4.2 3,343.33
19 Havre de Grace Harford 13,527 12,952 575 4.44% 5.5 2,459.45
Riviera Beach CDP Anne Arundel 13,466 12,677 789 6.22% 2.63 5,120.15
Kettering CDP Prince George's 13,195 12,790 405 3.17% 5.5 2,399.09
Glenn Dale CDP Prince George's 13,108 13,466 -358 -2.66% 7.12 1,841.01
21 New Carrollton Prince George's 12,868 12,135 733 6.04% 1.53 8,410.46
Joppatowne CDP Harford 12,684 12,616 68 0.54% 6.73 1,884.70
Lexington Park CDP St. Mary's 12,642 11,626 1,016 8.74% 5.62 2,249.47
20 Cambridge Dorchester 12,468 12,326 142 1.15% 10.34 1,205.80
Summerfield CDP Prince George's 12,403 10,898 1,505 13.81% 3.63 3,416.80
Bensville CDP Charles 12,292 11,923 369 3.09% 16.89 727.77
Kemp Mill CDP Montgomery 12,285 12,564 -279 -2.22% 2.54 4,836.61
California CDP St. Mary's 12,228 11,857 371 3.13% 12.78 956.81
Overlea CDP Baltimore 12,206 12,275 -69 -0.56% 3 4,068.67
Travilah CDP Montgomery 12,106 12,159 -53 -0.44% 15.83 764.75
Mays Chapel CDP Baltimore 11,774 11,420 354 3.10% 3.71 3,173.58
Accokeek CDP Prince George's 11,617 10,573 1,044 9.87% 27.43 423.51
Rosaryville CDP Prince George's 11,348 10,697 651 6.09% 9.18 1,236.17
Forestville CDP Prince George's 11,298 12,353 -1,055 -8.54% 3.92 2,882.14
Walker Mill CDP Prince George's 11,293 11,302 -9 -0.08% 3.16 3,573.73
Annapolis Neck CDP Anne Arundel 11,084 10,950 134 1.22% 6.95 1,594.82
Ocean Pines CDP Worcester 11,025 11,710 -685 -5.85% 6.66 1,655.41
Largo CDP Prince George's 11,015 10,709 306 2.86% 3.06 3,599.67
Lanham CDP Prince George's 10,967 10,157 810 7.97% 3.53 3,106.80
Urbana CDP Frederick 10,750 9,175 1,575 17.17% 6.56 1,638.72
Linthicum CDP Anne Arundel 10,699 10,324 375 3.63% 5.46 1,959.52
Brock Hall CDP  Prince George's 10,635 9,552 1,083 11.34% 13.61 781.41
Halfway CDP Washington 10,596 10,701 -105 -0.98% 4.66 2,273.82
Mitchellville CDP Prince George's 10,475 10,967 -492 -4.49% 5.05 2,074.26
Marlboro Village CDP Prince George's 10,457 9,438 1,019 10.80% 3.86 2,709.07
Timonium CDP Baltimore 10,436 9,925 511 5.15% 5.35 1,950.65
Lake Arbor CDP Prince George's 10,414 9,776 638 6.53% 3.01 3,459.80
Fort Meade CDP Anne Arundel 10,137 9,327 810 8.68% 8.1 1,251.48
Chesapeake Ranch Estates CDP Calvert 10,111 10,519 -408 -3.88% 4.32 2,340.51
22 Bel Air Harford 10,109 10,120 -11 -0.11% 2.93 3,450.17
Coral Hills CDP Prince George's 9,842 9,895 -53 -0.54% 1.5 6,561.33
White Marsh CDP Baltimore 9,797 9,513 284 2.99% 5.31 1,845.01
North Kensington CDP Montgomery 9,768 9,514 254 2.67% 1.53 6,384.31
Friendly CDP Prince George's 9,708 9,250 458 4.95% 4.88 1,989.34
24 Bladensburg Prince George's 9,608 9,148 460 5.03% 1 9,608.00
Edgewater CDP Anne Arundel 9,583 9,023 560 6.21% 2.99 3,205.02
Burtonsville CDP Montgomery 9,488 8,323 1,165 14.00% 7.82 1,213.30
Chevy Chase CDP Montgomery 9,450 9,545 -95 -1.00% 2.39 3,953.97
Fallston CDP Harford 9,418 8,958 460 5.14% 13.98 673.68
Marlton CDP Prince George's 9,391 9,031 360 3.99% 5.94 1,580.98
23 Mount Airy Carroll & Frederick 9,374 9,288 86 0.93% 4.12 2,275.24
Scaggsville CDP Howard 9,348 24,333 -14,985 -61.58% 10.29 908.45
Brandywine CDP Prince George's 9,309 6,719 2,590 38.55% 21.01 443.07
26 La Plata Charles 9,239 8,753 486 5.55% 7.4 1,248.51
Leisure World CDP Montgomery 9,227 8,749 478 5.46% 1.09 8,465.14
Linganore CDP Frederick 9,082 8,543 539 6.31% 5.74 1,582.23
Cape St. Claire CDP Anne Arundel 8,862 8,747 115 1.31% 2 4,431.00
Mayo CDP Anne Arundel 8,779 8,298 481 5.80% 5.62 1,562.10
25 Frostburg Allegany 8,676 9,002 -326 -3.62% 3.42 2,536.84
Garrison CDP Baltimore 8,549 8,823 -274 -3.11% 3.16 2,705.38
Lansdowne CDP Baltimore 8,490 8,409 81 0.96% 2.28 3,723.68
27 Mount Rainier Prince George's 8,455 8,080 375 4.64% 0.65 13,007.69
Edgemere CDP Baltimore 8,443 8,669 -226 -2.61% 10.84 778.87
Four Corners CDP Montgomery 8,421 7,945 476 5.99% 1.46 5,767.81
South Kensington CDP Montgomery 8,394 8,462 -68 -0.80% 2.08 4,035.58
Temple Hills CDP Prince George's 8,023 7,852 171 2.18% 1.41 5,690.07
Woodlawn CDP Prince George's 7,973 6,334 1,639 25.88% 1.16 6,873.28
Robinwood CDP Washington 7,769 6,918 851 12.30% 3.86 2,012.69
Baltimore Highlands CDP Baltimore 7,703 7,019 684 9.74% 1.73 4,452.60
Jessup CDP Anne Arundel & Howard 7,671 7,137 534 7.48% 5.25 1,461.14
Bryans Road CDP Charles 7,458 7,244 214 2.95% 15.38 484.92
Forest Glen CDP Montgomery 7,374 6,582 792 12.03% 1.03 7,159.22
Westphalia CDP Prince George's 7,349 7,266 83 1.14% 13.27 553.81
29 Riverdale Park Prince George's 7,304 6,956 348 5.00% 1.65 4,426.67
28 Ocean City Worcester 6,999 7,102 -103 -1.45% 4.41 1,587.07
Riverside CDP Harford 6,799 6,425 374 5.82% 2.33 2,918.03
Darnestown CDP Montgomery 6,784 6,802 -18 -0.26% 16.39 413.91
30 Taneytown Carroll 6,760 6,728 32 0.48% 3.03 2,231.02
Lutherville CDP Baltimore 6,600 6,504 96 1.48% 2.11 3,127.96
33 Thurmont Frederick 6,528 6,170 358 5.80% 3.12 2,092.31
32 Cheverly Prince George's 6,469 6,173 296 4.80% 1.35 4,791.85
Shady Side CDP Anne Arundel 6,440 5,803 637 10.98% 6.76 952.66
Stevensville CDP Queen Anne's 6,372 6,803 -431 -6.34% 6.44 989.44
31 Hampstead Carroll 6,355 6,323 32 0.51% 3.19 1,992.16
34 Glenarden Prince George's 6,178 6,000 178 2.97% 1.22 5,063.93
35 Brunswick Frederick 6,171 5,870 301 5.13% 3.26 1,892.94
Cresaptown CDP Allegany 6,127 4,592 1,535 33.43% 6.11 1,002.78
Bowleys Quarters CDP Baltimore 6,124 6,755 -631 -9.34% 3.15 1,944.13
Savage CDP Howard 6,058 7,054 -996 -14.12% 2.74 2,210.95
37 Walkersville Frederick 6,054 5,800 254 4.38% 4.35 1,391.72
36 District Heights Prince George's 6,017 5,837 180 3.08% 0.93 6,469.89
Hillandale CDP Montgomery & Prince George's 5,936 6,043 -107 -1.77% 2.06 2,881.55
38 Chesapeake Beach Calvert 5,911 5,753 158 2.75% 2.71 2,181.18
Spring Ridge CDP Frederick 5,899 5,795 104 1.79% 2.64 2,234.47
Fountainhead-Orchard Hills CDP Washington 5,737 5,666 71 1.25% 4.41 1,300.91
Fairwood CDP Prince George's 5,707 5,031 676 13.44% 3.72 1,534.14
Ashton-Sandy Spring CDP Montgomery 5,684 5,628 56 1.00% 10.27 553.46
Marlow Heights CDP Prince George's 5,676 5,618 58 1.03% 2.03 2,796.06
Naval Academy CDP Anne Arundel 5,630 4,802 828 17.24% 0.55 10,236.36
41 Fruitland Wicomico 5,234 4,866 368 7.56% 3.78 1,384.66
40 Poolesville Montgomery 5,190 4,883 307 6.29% 3.93 1,320.61
Silver Hill CDP Prince George's 5,182 5,950 -768 -12.91% 1.34 3,867.16
Deale CDP Anne Arundel 5,095 4,945 150 3.03% 5.29 963.14
39 Chestertown Kent 5,080 5,252 -172 -3.27% 2.6 1,953.85
Layhill CDP Montgomery 5,051 5,169 -118 -2.28% 1.57 3,217.20
Chester CDP Queen Anne's 4,952 4,167 785 18.84% 5.09 972.89
Hampton CDP Baltimore 4,897 5,052 -155 -3.07% 5.72 856.12
Friendship Heights Village CDP Montgomery 4,872 4,698 174 3.70% 0.06 81,200.00
42 Manchester Carroll 4,818 4,808 10 0.21% 2.34 2,058.97
Peppermill Village CDP Prince George's 4,785 4,895 -110 -2.25% 0.75 6,380.00
43 Seat Pleasant Prince George's 4,769 4,542 227 5.00% 0.73 6,532.88
49 Centreville Queen Anne's 4,680 4,285 395 9.22% 2.45 1,910.20
44 Berlin Worcester 4,608 4,485 123 2.74% 3.15 1,462.86
West Ocean City CDP Worcester 4,554 4,375 179 4.09% 3.78 1,204.76
48 Capitol Heights Prince George's 4,545 4,337 208 4.80% 0.8 5,681.25
51 Middletown Frederick 4,515 4,136 379 9.16% 1.74 2,594.83
47 Perryville Cecil 4,419 4,361 58 1.33% 3.05 1,448.85
46 Denton Caroline 4,388 4,418 -30 -0.68% 5.28 831.06
West Laurel CDP Prince George's 4,388 4,230 158 3.74% 2.28 1,924.56
Kingsville CDP Baltimore 4,387 4,318 69 1.60% 10.04 436.95
50 Pocomoke City Worcester 4,101 4,184 -83 -1.98% 3.69 1,111.38
Huntingtown CDP Calvert 4,025 3,311 714 21.56% 8.07 498.76
45 Sykesville Carroll 3,941 4,436 -495 -11.16% 1.58 2,494.30
Woodmore CDP Prince George's 3,911 3,936 -25 -0.64% 6.55 597.10
National Harbor CDP Prince George's 3,837 3,788 49 1.29% 1.45 2,646.21
52 Indian Head Charles 3,824 3,844 -20 -0.52% 1.23 3,108.94
Riva CDP Anne Arundel 3,817 4,076 -259 -6.35% 2.46 1,551.63
60 Leonardtown St. Mary's 3,769 2,930 839 28.63% 3.18 1,185.22
Brookmont CDP Montgomery 3,767 3,468 299 8.62% 1.29 2,920.16
Marlboro Meadows CDP Prince George's 3,657 3,672 -15 -0.41% 6.09 600.49
53 North East Cecil 3,650 3,572 78 2.18% 2.06 1,771.84
55 Princess Anne Somerset 3,593 3,290 303 9.21% 1.67 2,151.50
Maugansville CDP Washington 3,573 3,071 502 16.35% 2.45 1,458.37
Pleasant Hills CDP Harford 3,555 3,379 176 5.21% 4.36 815.37
54 Boonsboro Washington 3,510 3,336 174 5.22% 2.9 1,210.34
Golden Beach CDP St. Mary's 3,380 3,796 -416 -10.96% 3.78 894.18
Grasonville CDP Queen Anne's 3,349 3,425 -76 -2.22% 5.52 606.70
56 Berwyn Heights Prince George's 3,275 3,123 152 4.87% 0.69 4,746.38
La Vale CDP Allegany 3,265 3,551 -286 -8.05% 2.67 1,222.85
Jarrettsville CDP Harford 3,258 2,916 342 11.73% 8.64 377.08
Prince Frederick CDP Calvert 3,240 2,538 702 27.66% 3.66 885.25
Andrews AFB CDP Prince George's 3,226 2,973 253 8.51% 6.92 466.18
58 Delmar Wicomico 3,203 3,003 200 6.66% 1.72 1,862.21
57 Brentwood Prince George's 3,183 3,046 137 4.50% 0.38 8,376.32
St. James CDP Washington 3,160 2,953 207 7.01% 6.04 523.18
Drum Point CDP Calvert 3,149 2,731 418 15.31% 1.66 1,896.99
Croom CDP Prince George's 3,107 2,631 476 18.09% 34.19 90.87
62 Emmitsburg Frederick 3,038 2,814 224 7.96% 1.52 1,998.68
59 Smithsburg Washington 3,000 2,975 25 0.84% 1.05 2,857.14
Springdale CDP Prince George's 2,992 2,994 -2 -0.07% 0.81 3,693.83
61 Chevy Chase Montgomery 2,989 2,824 165 5.84% 0.47 6,359.57
Braddock Heights CDP Frederick 2,831 2,608 223 8.55% 4.69 603.62
Perryman CDP Harford 2,811 2,342 469 20.03% 5.53 508.32
63 Rising Sun Cecil 2,799 2,781 18 0.65% 1.26 2,221.43
Melwood CDP Prince George's 2,763 3,051 -288 -9.44% 2.82 979.79
Fulton CDP Howard 2,758 2,049 709 34.60% 3.79 727.70
Herald Harbor CDP Anne Arundel 2,726 2,603 123 4.73% 1.68 1,622.62
Adamstown CDP Frederick 2,692 2,372 320 13.49% 3.29 818.24
64 Federalsburg Caroline 2,674 2,739 -65 -2.37% 1.93 1,385.49
66 University Park Prince George's 2,659 2,548 111 4.36% 0.5 5,318.00
Owings CDP Calvert 2,638 2,149 489 22.75% 3.94 669.54
65 Crisfield Somerset 2,630 2,726 -96 -3.52% 1.62 1,623.46
Paramount-Long Meadow CDP Washington 2,605 2,571 34 1.32% 2.18 1,194.95
Gambrills CDP Anne Arundel 2,583 2,800 -217 -7.75% 7.6 339.87
67 Forest Heights Prince George's 2,577 2,447 130 5.31% 0.48 5,368.75

Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2016
Source: U.S. Census Bureau, Population Division
Release Date: May 2017.

Types of Mortgages in Maryland

The main mortgage types available in Maryland are:

  • 30 year fixed rate mortgage – The interest rate and payments for this type of mortgage are fixed for the entire term of the mortgage. Normally, this type of loan has the highest interest rates.
  • 15 year fixed rate mortgate – Similar to the 30 year fixed rate but with a shorter payment term. The interest rates are lower for the 15 year fixed rate mortgage as compared to the 30 year fixed rate.
  • 5/1 ARM mortgage – An adjustable rate mortgage in which the interest rate is adjusted at certain periods. The amount of adjustment depends on the index that the mortgage tracks. A 5/1 ARM starts with a beginning interest rate that lasts for five years, after which the rate is adjusted annually for the rest of the payment period. Also known as a renegotiable rate and a variable rate mortgage.
  • 3/1 ARM mortgage – Similar to the 5/1 ARM, but the initial interest rate lasts for the first three years of payment, after which the rate is adjusted annually.

As of 2017 the conforming loan limit across the United States is set to $424,100, with a ceiling of 150% that amount in areas where median home values are higher. Jumbo loans typically have a slightly higher rate of interest than conforming mortgages, though spreads vary based on credit market conditions. The following are HERA high-cost area across the state.

County Metropolitan Designation 1 Unit Limit 2 Unit Limit 3 Unit Limit 4 Unit Limit
Anne Arundel Baltimore-Columbia-Towson, Md $517,500 $662,500 $800,800 $995,200
Baltimore Baltimore-Columbia-Towson, Md $517,500 $662,500 $800,800 $995,200
Calvert Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Carroll Baltimore-Columbia-Towson, Md $517,500 $662,500 $800,800 $995,200
Charles Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Frederick Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Harford Baltimore-Columbia-Towson, Md $517,500 $662,500 $800,800 $995,200
Howard Baltimore-Columbia-Towson, Md $517,500 $662,500 $800,800 $995,200
Montgomery Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Prince George'S Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Queen Anne'S Baltimore-Columbia-Towson, Md $517,500 $662,500 $800,800 $995,200
Baltimore City Baltimore-Columbia-Towson, Md $517,500 $662,500 $800,800 $995,200

There are various types of mortgage loan products available for the buyer to choose from. These products include:

  • Jumbo mortgage – A loan that exceeds the limits established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. As these loans are not financed by these agencies they have a higher interest rate.
  • Rural mortgage – A program offered by the United States Department of Agriculture (USDA) that offers 100 percent financing with no money down. Your income must qualify and you must live in an eligible rural area. The USDA Rural Development mortgage requires a 2 percent loan fee that must be paid upfront.
  • Two Step Mortgage – A loan that the buyer receives at lower than market interest rates for a certain term, usually between seven and 10 years, after which the interest rate is adjusted to market rates. This type of mortgage is also known as a Super Seven or Premier mortgage.
  • Wraparound Mortgage – With this type of mortgage a new loan is fused together with an existing mortgage resulting in an interest rate that falls between the new and old loan rates.
  • Blanket Mortgage – A loan that covers two or more properties as security for the same mortgage.
  • Buy-down mortgage – The lender and/or the builder will pay off part of the interest rate for the early part of the loan, after with the rate increases.
  • Deferred interest mortgage – A loan that allows payments less than the amount required for the interest rate with the unpaid amount deferred by shifting it to the loan balance.
  • FHA Loan – A loan that is backed by the Federal Housing Administration that allows qualified buyers to purchase mid-range homes.
  • Graduated Payment Mortgage (GPM) – A mortgage in which the monthly payments increase for a specific term and then stabilize.

USDA loans can help people with low incomes in rural parts of the state qualify for a subsidized low-interest loan.

Glenview Mansion in Rockville, Maryland.

Maryland is a recourse state, which means that lenders have up to three years to take recourse action for the loan balance after a foreclosure sale. For example, if you are foreclosing on a $500,000 mortgage but the property sells in foreclosure for only $400,000. If the lender wins in court, you will still owe the lender the remaining $100,000 balance on the original mortgage. The court will set the new payment terms.

Natural Disasters

Homeowner's insurance policies typically cover financial damages from most natural disasters other than flooding & earthquakes. The state has a very low risk of earthquakes. All other natural disasters are covered below.

Flood Insurance

Much of the state of Maryland has a substantial flooding risk. Here are the counties where the risk of flooding or hurricane storm surges are above very low.

  • Low flooding risk: Anne Arundel, Baltimore, Calvert, Charles
  • Moderate flooding risk: Caroline, Cecil, Kent, Queen Anne's County, Saint Mary's, Wicomico
  • High flooding risk: Talbot, Worcester
  • Very high flooding risk: Dorchester, Somerset
  • Low risk of hurricane storm surges: Talbot
  • Moderate risk of hurricane storm surges: Calvert, Harford, Queen Anne's County, Saint Mary's, Somerset, Worcester

Homeowner's insurance policies typically do not cover flooding.

Home buyers with mortgages in high-risk areas are required to buy flood insurance. Most flood insurance policies are sold by the United States federal government through The National Flood Insurance Program. Under-priced flood insurance in high-risk areas act as a subsidy to wealthy homeowners.

The NFIP does not charge nearly enough to cover the expected costs of its liabilities. The assessments are not sufficient to build any buffer to cover an extraordinary year, such as what occurred with Hurricane Katrina in 2005 or Hurricane Sandy in 2012. Because homeowners don€™t incur the full cost of building in a flood zone we end up with more houses there than if homeowners incurred the full cost of the flood risk, which exacerbates the government€™s costs in the next disaster.

Typically, homes built after 2002, when building code regulations tightened, are subject to lower insurance rates than older homes. On the other hand, homes without hurricane straps, with roofs that do not meet current standards for wind, with older plumbing or with outdated electrical systems may be difficult €“ or very expensive €“ to insure.

Homeowners who live in lower risk areas & are not required to purchase flood insurance heavily cross-subsidize homeowners who are in areas where floods are more common.

Tornadoes

Most of the western portion of the state is considered to have a moderate tornado risk. Here is a list of counties with a risk above very low.

  • Low: Anne Arundel, Baltimore City, Carroll, Harford, Washington
  • Moderate: Baltimore, Calvert, Frederick, Howard, Montgomery, Prince George's County, Saint Mary's
  • High: Charles

Wildfires

Most of the state has a very low risk of wildfires, while Dorchester county has a moderate risk & Somerset county has a high risk.

Hail

Most of the state has a very low risk of hail. The following counties have a risk level above very low.

  • Low: Anne Arundel, Charles
  • Moderate: Baltimore, Harford, Howard, Prince George's County
  • High: Baltimore City

Foreclosure in Marlyand

In Maryland, lenders use judicial foreclosure in which a court action is sought. The lender files a petition, after which the foreclosure begins in 90 days of the date of default when no notice is provided, and in 45 days when the lender notifies the borrower. In instances where criminal activity like fraud is involved the foreclosure can begin immediately.

The borrower can stop the default up to 1 day before the foreclosure sale by paying up all the past due payments together with any penalties incurred thereby reinstating the loan. If the foreclosure sale is insufficient to cover the loan, the lender has recourse to a deficiency court action for the remaining balance of the loan.

The court decides on the period of redemption, or the period in which the original owner has the right to buy back the home from whoever purchased it during foreclosure.