Total monthly cost of ownership
Cost to Own a Home in Frederick, Maryland
A $365,000 home here costs
$3,084per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $132,000 a year.
A standard mortgage calculator would have told you $2,022. The real number is $1,062 higher every month, 53% more than the payment most buyers budget for.
Compare Frederick 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.
Frederick against Frederick County and Maryland
| Measure | Frederick | Frederick County |
|---|---|---|
| Median home value | $365,200 | $437,700 |
| Median property tax | $4,799 | $4,463 |
| Effective tax rate | 1.314% | 1.020% |
| Median gross rent | $1,688 | $1,706 |
| Population | 80,617 | 280,341 |
The weather behind that power bill
Frederick sits in Frederick County, which averages a high of 88.6°F in its hottest month and a low of 26.5°F in its coldest, with 43.52" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,397 cooling and 4,275 heating degree days, which is what sets the $199 electricity line above.
See the full climate breakdown for Frederick County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Frederick County
Full Frederick County cost breakdown · Every county in Maryland
Talk to someone who works this market
These are Frederick 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 Frederick every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Frederick I already own here and may sell
Common questions
How much does it cost to own a home in Frederick?
A $365,000 home in Frederick, Maryland costs approximately $3,084 per month with 20% down at 7.4%. That is $2,022 principal and interest, $400 property tax, $91 homeowners insurance, $267 utilities and $304 set aside for maintenance.
What is the property tax rate in Frederick?
Frederick has an effective property tax rate of 1.314%, based on a median home value of $365,200 and median real estate taxes of $4,799. That is higher than the Frederick County average of 1.020%.
What is the average home price in Frederick?
The median owner-occupied home value in Frederick, Maryland is $365,200, against $437,700 across Frederick County.
Is it cheaper to rent or buy in Frederick?
Median gross rent in Frederick is $1,688 a month, against $3,084 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 Frederick?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Frederick, Maryland at today's rate takes a household income of roughly $132,000 a year. That covers the full $3,084 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Frederick, 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.