Total monthly cost of ownership
Cost to Own a Home in Ellicott City, Maryland
A $644,000 home here costs
$5,153per 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 $221,000 a year.
A standard mortgage calculator would have told you $3,539. The real number is $1,614 higher every month, 46% more than the payment most buyers budget for.
Compare Howard 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.
Ellicott City against Howard County and Maryland
| Measure | Ellicott City | Howard County |
|---|---|---|
| Median home value | $644,300 | $576,700 |
| Median property tax | $7,800 | $6,814 |
| Effective tax rate | 1.211% | 1.182% |
| Median gross rent | $2,001 | $2,038 |
| Population | 73,737 | 333,916 |
The weather behind that power bill
Ellicott City sits in Howard County, which averages a high of 88.8°F in its hottest month and a low of 25.4°F in its coldest, with 45" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,322 cooling and 4,484 heating degree days, which is what sets the $199 electricity line above.
See the full climate breakdown for Howard County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Howard County
Full Howard County cost breakdown · Every county in Maryland
Talk to someone who works this market
These are Ellicott City 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 Ellicott City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ellicott City I already own here and may sell
Common questions
How much does it cost to own a home in Ellicott City?
A $644,000 home in Ellicott City, Maryland costs approximately $5,153 per month with 20% down at 7.32%. That is $3,539 principal and interest, $650 property tax, $161 homeowners insurance, $267 utilities and $537 set aside for maintenance.
What is the property tax rate in Ellicott City?
Ellicott City has an effective property tax rate of 1.211%, based on a median home value of $644,300 and median real estate taxes of $7,800. That is higher than the Howard County average of 1.182%.
What is the average home price in Ellicott City?
The median owner-occupied home value in Ellicott City, Maryland is $644,300, against $576,700 across Howard County.
Is it cheaper to rent or buy in Ellicott City?
Median gross rent in Ellicott City is $2,001 a month, against $5,153 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 Ellicott City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ellicott City, Maryland at today's rate takes a household income of roughly $221,000 a year. That covers the full $5,153 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ellicott City, 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.