Buying a home in Maryland
Property taxes, transfer taxes, home values and first-time buyer help in Maryland.
For home buyers in Maryland: the taxes and typical costs of buying, with official sources.
At Maryland's effective rate of 0.97%, a typical $424,890 home would owe about $4,121/year ($343/month) in property taxes. Actual bills depend on your county, city and exemptions. Run your numbers.
Maryland Department of Housing and Community Development
Your state housing finance agency offers down payment assistance and low-rate mortgages for eligible buyers. Visit Maryland Department of Housing and Community Development →
Next steps
Sources: U.S. Census Bureau ACS 2020–2024 5-year (B25103, B25077); Zillow Home Value Index; TallyClose closing-cost dataset (CC BY 4.0), which cites each state statute; NCSHA HFA directory. Last updated 2026-11-01.
Common questions
What is the property tax rate in Maryland?
The effective property tax rate in Maryland is 0.97%: the median tax of $4,093 divided by the median home value of $419,900 (U.S. Census Bureau ACS 2020–2024).
What is a typical home value in Maryland?
$424,890 in September 2026, according to the Zillow Home Value Index.
Does Maryland have a real estate transfer tax?
Yes. The state transfer tax is 0.5% of the price, usually split between buyer and seller.
Who offers first-time homebuyer help in Maryland?
Maryland Department of Housing and Community Development, the state housing finance agency, offers down payment assistance and lower-rate loans for eligible buyers.
Updated . Official sources: U.S. Census Bureau ACS, Zillow Research ZHVI.
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