Total monthly cost of ownership
Cost to Own a Home in Derwood, Maryland
A $633,000 home here costs
$4,694per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,254. The real number is $1,440 higher every month — 44% 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.
Derwood against Montgomery County and Maryland
| Measure | Derwood | Montgomery County |
|---|---|---|
| Median home value | $633,200 | $615,200 |
| Median property tax | $5,882 | $5,341 |
| Effective tax rate | 0.929% | 0.868% |
| Median gross rent | $2,200 | $2,030 |
| Population | 1,830 | 1,057,586 |
The weather behind that power bill
Derwood sits in Montgomery County, which averages a high of 87.1°F in its hottest month and a low of 26.9°F in its coldest, with 41.32" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,279 cooling and 4,455 heating degree days, which is what sets the $196 electricity line above.
See the full climate breakdown for Montgomery County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in Maryland
Common questions
How much does it cost to own a home in Derwood?
A $633,000 home in Derwood, Maryland costs approximately $4,694 per month with 20% down at 6.66%. That is $3,254 principal and interest, $490 property tax, $158 homeowners insurance, $264 utilities and $528 set aside for maintenance.
What is the property tax rate in Derwood?
Derwood has an effective property tax rate of 0.929%, based on a median home value of $633,200 and median real estate taxes of $5,882. That is higher than the Montgomery County average of 0.868%.
What is the average home price in Derwood?
The median owner-occupied home value in Derwood, Maryland is $633,200, against $615,200 across Montgomery County.
Is it cheaper to rent or buy in Derwood?
Median gross rent in Derwood is $2,200 a month, against $4,694 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 Derwood — 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.