Total monthly cost of ownership
Cost to Own a Home in Chestertown, Maryland
A $334,000 home here costs
$2,783per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $119,500 a year.
A standard mortgage calculator would have told you $1,821. The real number is $962 higher every month, 53% more than the payment most buyers budget for.
Compare Kent County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Chestertown against Kent County and Maryland
| Measure | Chestertown | Kent County |
|---|---|---|
| Median home value | $333,900 | $307,100 |
| Median property tax | $4,002 | $2,896 |
| Effective tax rate | 1.199% | 0.943% |
| Median gross rent | $1,090 | $1,144 |
| Population | 5,548 | 19,265 |
The weather behind that power bill
Chestertown sits in Kent County, which averages a high of 86.6°F in its hottest month and a low of 27.1°F in its coldest, with 45.96" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,284 cooling and 4,546 heating degree days, which is what sets the $199 electricity line above.
See the full climate breakdown for Kent County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kent County
Talk to someone who works this market
These are Chestertown 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 Chestertown every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Chestertown I already own here and may sell
Common questions
How much does it cost to own a home in Chestertown?
A $334,000 home in Chestertown, Maryland costs approximately $2,783 per month with 20% down at 7.24%. That is $1,821 principal and interest, $334 property tax, $84 homeowners insurance, $267 utilities and $278 set aside for maintenance.
What is the property tax rate in Chestertown?
Chestertown has an effective property tax rate of 1.199%, based on a median home value of $333,900 and median real estate taxes of $4,002. That is higher than the Kent County average of 0.943%.
What is the average home price in Chestertown?
The median owner-occupied home value in Chestertown, Maryland is $333,900, against $307,100 across Kent County.
Is it cheaper to rent or buy in Chestertown?
Median gross rent in Chestertown is $1,090 a month, against $2,783 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 Chestertown?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Chestertown, Maryland at today's rate takes a household income of roughly $119,500 a year. That covers the full $2,783 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Chestertown, 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.