Total monthly cost of ownership
Cost to Own a Home in Bel Air, Maryland
A $190,000 home here costs
$1,590per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $977. The real number is $613 higher every month — 63% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bel Air against Allegany County and Maryland
| Measure | Bel Air | Allegany County |
|---|---|---|
| Median home value | $189,700 | $149,200 |
| Median property tax | $1,716 | $1,609 |
| Effective tax rate | 0.905% | 1.078% |
| Median gross rent | $761 | $786 |
| Population | 1,894 | 67,762 |
The weather behind that power bill
Bel Air sits in Allegany County, which averages a high of 87.1°F in its hottest month and a low of 22.5°F in its coldest, with 39.22" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,042 cooling and 5,119 heating degree days, which is what sets the $196 electricity line above.
See the full climate breakdown for Allegany County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Allegany County
Full Allegany County cost breakdown · Every county in Maryland
Common questions
How much does it cost to own a home in Bel Air?
A $190,000 home in Bel Air, Maryland costs approximately $1,590 per month with 20% down at 6.66%. That is $977 principal and interest, $143 property tax, $48 homeowners insurance, $264 utilities and $158 set aside for maintenance.
What is the property tax rate in Bel Air?
Bel Air has an effective property tax rate of 0.905%, based on a median home value of $189,700 and median real estate taxes of $1,716. That is lower than the Allegany County average of 1.078%.
What is the average home price in Bel Air?
The median owner-occupied home value in Bel Air, Maryland is $189,700, against $149,200 across Allegany County.
Is it cheaper to rent or buy in Bel Air?
Median gross rent in Bel Air is $761 a month, against $1,590 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bel Air — 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.