Total monthly cost of ownership
Cost to Own a Home in Kemp Mill, Maryland
A $567,000 home here costs
$4,351per 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 $186,500 a year.
A standard mortgage calculator would have told you $3,091. The real number is $1,260 higher every month, 41% more than the payment most buyers budget for.
Compare Montgomery 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.
Kemp Mill against Montgomery County and Maryland
| Measure | Kemp Mill | Montgomery County |
|---|---|---|
| Median home value | $567,300 | $615,200 |
| Median property tax | $4,551 | $5,341 |
| Effective tax rate | 0.802% | 0.868% |
| Median gross rent | $2,105 | $2,030 |
| Population | 14,437 | 1,057,586 |
The weather behind that power bill
Kemp Mill 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 $199 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
Talk to someone who works this market
These are Kemp Mill 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 Kemp Mill every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Kemp Mill I already own here and may sell
Common questions
How much does it cost to own a home in Kemp Mill?
A $567,000 home in Kemp Mill, Maryland costs approximately $4,351 per month with 20% down at 7.24%. That is $3,091 principal and interest, $379 property tax, $142 homeowners insurance, $267 utilities and $473 set aside for maintenance.
What is the property tax rate in Kemp Mill?
Kemp Mill has an effective property tax rate of 0.802%, based on a median home value of $567,300 and median real estate taxes of $4,551. That is lower than the Montgomery County average of 0.868%.
What is the average home price in Kemp Mill?
The median owner-occupied home value in Kemp Mill, Maryland is $567,300, against $615,200 across Montgomery County.
Is it cheaper to rent or buy in Kemp Mill?
Median gross rent in Kemp Mill is $2,105 a month, against $4,351 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 Kemp Mill?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Kemp Mill, Maryland at today's rate takes a household income of roughly $186,500 a year. That covers the full $4,351 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Kemp Mill, 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.