Total monthly cost of ownership
Cost to Own a Home in Cambridge, Maryland
A $254,000 home here costs
$2,054per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,306. The real number is $749 higher every month — 57% 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.
Cambridge against Dorchester County and Maryland
| Measure | Cambridge | Dorchester County |
|---|---|---|
| Median home value | $254,400 | $252,300 |
| Median property tax | $2,521 | $2,399 |
| Effective tax rate | 0.991% | 0.951% |
| Median gross rent | $971 | $959 |
| Population | 13,094 | 32,612 |
The weather behind that power bill
Cambridge 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 $196 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
Common questions
How much does it cost to own a home in Cambridge?
A $254,000 home in Cambridge, Maryland costs approximately $2,054 per month with 20% down at 6.66%. That is $1,306 principal and interest, $210 property tax, $64 homeowners insurance, $264 utilities and $212 set aside for maintenance.
What is the property tax rate in Cambridge?
Cambridge has an effective property tax rate of 0.991%, based on a median home value of $254,400 and median real estate taxes of $2,521. That is higher than the Dorchester County average of 0.951%.
What is the average home price in Cambridge?
The median owner-occupied home value in Cambridge, Maryland is $254,400, against $252,300 across Dorchester County.
Is it cheaper to rent or buy in Cambridge?
Median gross rent in Cambridge is $971 a month, against $2,054 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 Cambridge — 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.