Total monthly cost of ownership
Cost to Own a Home in Cresaptown, Maryland
A $148,000 home here costs
$1,349per 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 $58,000 a year.
A standard mortgage calculator would have told you $807. The real number is $542 higher every month, 67% more than the payment most buyers budget for.
Compare Allegany 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.
Cresaptown against Allegany County and Maryland
| Measure | Cresaptown | Allegany County |
|---|---|---|
| Median home value | $148,400 | $149,200 |
| Median property tax | $1,378 | $1,609 |
| Effective tax rate | 0.929% | 1.078% |
| Median gross rent | $838 | $786 |
| Population | 5,238 | 67,762 |
The weather behind that power bill
Cresaptown sits in Allegany County, which averages a high of 87.1°F in its hottest month and a low of 22.5°F in its coldest, with 39.22" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,042 cooling and 5,119 heating degree days, which is what sets the $199 electricity line above.
See the full climate breakdown for Allegany County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Allegany County
Full Allegany County cost breakdown · Every county in Maryland
Talk to someone who works this market
These are Cresaptown 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 Cresaptown every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Cresaptown I already own here and may sell
Common questions
How much does it cost to own a home in Cresaptown?
A $148,000 home in Cresaptown, Maryland costs approximately $1,349 per month with 20% down at 7.24%. That is $807 principal and interest, $115 property tax, $37 homeowners insurance, $267 utilities and $123 set aside for maintenance.
What is the property tax rate in Cresaptown?
Cresaptown has an effective property tax rate of 0.929%, based on a median home value of $148,400 and median real estate taxes of $1,378. That is lower than the Allegany County average of 1.078%.
What is the average home price in Cresaptown?
The median owner-occupied home value in Cresaptown, Maryland is $148,400, against $149,200 across Allegany County.
Is it cheaper to rent or buy in Cresaptown?
Median gross rent in Cresaptown is $838 a month, against $1,349 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 Cresaptown?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Cresaptown, Maryland at today's rate takes a household income of roughly $58,000 a year. That covers the full $1,349 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cresaptown, 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.