Total monthly cost of ownership
Cost to Own a Home in Callaway, Maryland
A $362,000 home here costs
$2,815per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,861. The real number is $954 higher every month — 51% 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.
Callaway against St. Mary's County and Maryland
| Measure | Callaway | St. Mary's County |
|---|---|---|
| Median home value | $361,500 | $390,900 |
| Median property tax | $3,570 | $3,392 |
| Effective tax rate | 0.988% | 0.868% |
| Median gross rent | $1,360 | $1,692 |
| Population | 1,087 | 114,372 |
The weather behind that power bill
Callaway sits in St. Mary's County, which averages a high of 87.2°F in its hottest month and a low of 30.1°F in its coldest, with 46.32" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,477 cooling and 3,867 heating degree days, which is what sets the $196 electricity line above.
See the full climate breakdown for St. Mary's County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in St. Mary's County
Full St. Mary's County cost breakdown · Every county in Maryland
Common questions
How much does it cost to own a home in Callaway?
A $362,000 home in Callaway, Maryland costs approximately $2,815 per month with 20% down at 6.66%. That is $1,861 principal and interest, $298 property tax, $91 homeowners insurance, $264 utilities and $302 set aside for maintenance.
What is the property tax rate in Callaway?
Callaway has an effective property tax rate of 0.988%, based on a median home value of $361,500 and median real estate taxes of $3,570. That is higher than the St. Mary's County average of 0.868%.
What is the average home price in Callaway?
The median owner-occupied home value in Callaway, Maryland is $361,500, against $390,900 across St. Mary's County.
Is it cheaper to rent or buy in Callaway?
Median gross rent in Callaway is $1,360 a month, against $2,815 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 Callaway — 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.