Total monthly cost of ownership
Cost to Own a Home in Algonquin, Maryland
A $333,000 home here costs
$2,661per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $114,000 a year.
A standard mortgage calculator would have told you $1,816. The real number is $846 higher every month, 47% more than the payment most buyers budget for.
Compare Dorchester County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Algonquin from a five-year rolling sample, and with about 1,027 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Dorchester County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Algonquin against Dorchester County and Maryland
| Measure | Algonquin | Dorchester County |
|---|---|---|
| Median home value | $332,600 | $252,300 |
| Median property tax | $2,613 | $2,399 |
| Effective tax rate | 0.786% | 0.951% |
| Median gross rent | — | $959 |
| Population | 1,027 | 32,612 |
The weather behind that power bill
Algonquin sits in Dorchester County, which averages a high of 87.3°F in its hottest month and a low of 29.5°F in its coldest, with 45.3" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,508 cooling and 3,927 heating degree days, which is what sets the $199 electricity line above.
See the full climate breakdown for Dorchester County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dorchester County
Full Dorchester County cost breakdown · Every county in Maryland
Talk to someone who works this market
These are Algonquin averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Algonquin every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Algonquin I already own here and may sell
Common questions
How much does it cost to own a home in Algonquin?
A $333,000 home in Algonquin, Maryland costs approximately $2,661 per month with 20% down at 7.24%. That is $1,816 principal and interest, $218 property tax, $83 homeowners insurance, $267 utilities and $278 set aside for maintenance.
What is the property tax rate in Algonquin?
Algonquin has an effective property tax rate of 0.786%, based on a median home value of $332,600 and median real estate taxes of $2,613. That is lower than the Dorchester County average of 0.951%.
What is the average home price in Algonquin?
The median owner-occupied home value in Algonquin, Maryland is $332,600, against $252,300 across Dorchester County.
Is it cheaper to rent or buy in Algonquin?
Rent data is not published for Algonquin at this level of detail.
What salary do you need to buy a home in Algonquin?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Algonquin, Maryland at today's rate takes a household income of roughly $114,000 a year. That covers the full $2,661 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Algonquin, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Maryland.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.