Total monthly cost of ownership
Cost to Own a Home in Cobb Island, Maryland
A $246,000 home here costs
$2,180per month, all in, with 20% down at today's 7.32% 30-year fixed rate. By the 28% rule that takes a household income of about $93,500 a year.
A standard mortgage calculator would have told you $1,352. The real number is $828 higher every month, 61% more than the payment most buyers budget for.
Compare Charles County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Cobb Island from a five-year rolling sample, and with about 1,162 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 Charles 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.
Cobb Island against Charles County and Maryland
| Measure | Cobb Island | Charles County |
|---|---|---|
| Median home value | $246,100 | $402,300 |
| Median property tax | $3,541 | $4,179 |
| Effective tax rate | 1.439% | 1.039% |
| Median gross rent | — | $1,897 |
| Population | 1,162 | 168,710 |
The weather behind that power bill
Cobb Island sits in Charles County, which averages a high of 88.0°F in its hottest month and a low of 28.3°F in its coldest, with 41.03" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,512 cooling and 4,002 heating degree days, which is what sets the $199 electricity line above.
See the full climate breakdown for Charles County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Charles County
Full Charles County cost breakdown · Every county in Maryland
Talk to someone who works this market
These are Cobb Island 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 Cobb Island every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Cobb Island I already own here and may sell
Common questions
How much does it cost to own a home in Cobb Island?
A $246,000 home in Cobb Island, Maryland costs approximately $2,180 per month with 20% down at 7.32%. That is $1,352 principal and interest, $295 property tax, $62 homeowners insurance, $267 utilities and $205 set aside for maintenance.
What is the property tax rate in Cobb Island?
Cobb Island has an effective property tax rate of 1.439%, based on a median home value of $246,100 and median real estate taxes of $3,541. That is higher than the Charles County average of 1.039%.
What is the average home price in Cobb Island?
The median owner-occupied home value in Cobb Island, Maryland is $246,100, against $402,300 across Charles County.
Is it cheaper to rent or buy in Cobb Island?
Rent data is not published for Cobb Island at this level of detail.
What salary do you need to buy a home in Cobb Island?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Cobb Island, Maryland at today's rate takes a household income of roughly $93,500 a year. That covers the full $2,180 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cobb Island, 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.