Total monthly cost of ownership
Cost to Own a Home in Eldersburg, Maryland
A $479,000 home here costs
$3,748per 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 $160,500 a year.
A standard mortgage calculator would have told you $2,612. The real number is $1,137 higher every month, 44% more than the payment most buyers budget for.
Compare Carroll 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.
Eldersburg against Carroll County and Maryland
| Measure | Eldersburg | Carroll County |
|---|---|---|
| Median home value | $478,800 | $406,400 |
| Median property tax | $4,215 | $3,837 |
| Effective tax rate | 0.880% | 0.944% |
| Median gross rent | $1,655 | $1,370 |
| Population | 30,626 | 174,318 |
The weather behind that power bill
Eldersburg sits in Carroll County, which averages a high of 85.2°F in its hottest month and a low of 20.8°F in its coldest, with 42.12" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 853 cooling and 5,423 heating degree days, which is what sets the $199 electricity line above.
See the full climate breakdown for Carroll County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Carroll County
Full Carroll County cost breakdown · Every county in Maryland
Talk to someone who works this market
These are Eldersburg 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 Eldersburg every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Eldersburg I already own here and may sell
Common questions
How much does it cost to own a home in Eldersburg?
A $479,000 home in Eldersburg, Maryland costs approximately $3,748 per month with 20% down at 7.24%. That is $2,612 principal and interest, $351 property tax, $120 homeowners insurance, $267 utilities and $399 set aside for maintenance.
What is the property tax rate in Eldersburg?
Eldersburg has an effective property tax rate of 0.880%, based on a median home value of $478,800 and median real estate taxes of $4,215. That is lower than the Carroll County average of 0.944%.
What is the average home price in Eldersburg?
The median owner-occupied home value in Eldersburg, Maryland is $478,800, against $406,400 across Carroll County.
Is it cheaper to rent or buy in Eldersburg?
Median gross rent in Eldersburg is $1,655 a month, against $3,748 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 Eldersburg?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Eldersburg, Maryland at today's rate takes a household income of roughly $160,500 a year. That covers the full $3,748 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Eldersburg, 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.