Total monthly cost of ownership
Cost to Own a Home in Chester, Maryland
A $441,000 home here costs
$3,319per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,267. The real number is $1,052 higher every month — 46% 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.
Chester against Queen Anne's County and Maryland
| Measure | Chester | Queen Anne's County |
|---|---|---|
| Median home value | $441,200 | $441,800 |
| Median property tax | $3,722 | $3,503 |
| Effective tax rate | 0.844% | 0.793% |
| Median gross rent | $1,849 | $1,611 |
| Population | 4,539 | 50,951 |
The weather behind that power bill
Chester sits in Queen Anne's County, which averages a high of 86.0°F in its hottest month and a low of 29.8°F in its coldest, with 43.99" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,436 cooling and 4,062 heating degree days, which is what sets the $196 electricity line above.
See the full climate breakdown for Queen Anne's County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Queen Anne's County
Full Queen Anne's County cost breakdown · Every county in Maryland
Common questions
How much does it cost to own a home in Chester?
A $441,000 home in Chester, Maryland costs approximately $3,319 per month with 20% down at 6.66%. That is $2,267 principal and interest, $310 property tax, $110 homeowners insurance, $264 utilities and $368 set aside for maintenance.
What is the property tax rate in Chester?
Chester has an effective property tax rate of 0.844%, based on a median home value of $441,200 and median real estate taxes of $3,722. That is higher than the Queen Anne's County average of 0.793%.
What is the average home price in Chester?
The median owner-occupied home value in Chester, Maryland is $441,200, against $441,800 across Queen Anne's County.
Is it cheaper to rent or buy in Chester?
Median gross rent in Chester is $1,849 a month, against $3,319 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 Chester — 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.