Total monthly cost of ownership
Cost to Own a Home in Charlestown, Maryland
A $361,000 home here costs
$2,972per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $127,500 a year.
A standard mortgage calculator would have told you $2,000. The real number is $972 higher every month, 49% more than the payment most buyers budget for.
Compare Cecil County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Charlestown from a five-year rolling sample, and with about 2,037 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 Cecil 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.
Charlestown against Cecil County and Maryland
| Measure | Charlestown | Cecil County |
|---|---|---|
| Median home value | $361,300 | $311,800 |
| Median property tax | $3,777 | $3,059 |
| Effective tax rate | 1.045% | 0.981% |
| Median gross rent | $1,548 | $1,367 |
| Population | 2,037 | 104,366 |
The weather behind that power bill
Charlestown sits in Cecil County, which averages a high of 86.4°F in its hottest month and a low of 25.3°F in its coldest, with 47.11" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,171 cooling and 4,706 heating degree days, which is what sets the $199 electricity line above.
See the full climate breakdown for Cecil County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cecil County
Talk to someone who works this market
These are Charlestown 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 Charlestown every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Charlestown I already own here and may sell
Common questions
How much does it cost to own a home in Charlestown?
A $361,000 home in Charlestown, Maryland costs approximately $2,972 per month with 20% down at 7.4%. That is $2,000 principal and interest, $314 property tax, $90 homeowners insurance, $267 utilities and $301 set aside for maintenance.
What is the property tax rate in Charlestown?
Charlestown has an effective property tax rate of 1.045%, based on a median home value of $361,300 and median real estate taxes of $3,777. That is higher than the Cecil County average of 0.981%.
What is the average home price in Charlestown?
The median owner-occupied home value in Charlestown, Maryland is $361,300, against $311,800 across Cecil County.
Is it cheaper to rent or buy in Charlestown?
Median gross rent in Charlestown is $1,548 a month, against $2,972 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Charlestown?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Charlestown, Maryland at today's rate takes a household income of roughly $127,500 a year. That covers the full $2,972 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Charlestown, 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.