Total monthly cost of ownership
Cost to Own a Home in Lutherville, Maryland
A $425,000 home here costs
$3,281per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,185. The real number is $1,096 higher every month — 50% 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.
Lutherville against Baltimore County and Maryland
| Measure | Lutherville | Baltimore County |
|---|---|---|
| Median home value | $425,200 | $330,000 |
| Median property tax | $4,465 | $3,645 |
| Effective tax rate | 1.050% | 1.105% |
| Median gross rent | $1,428 | $1,566 |
| Population | 6,670 | 849,586 |
The weather behind that power bill
Lutherville sits in Baltimore County, which averages a high of 90.1°F in its hottest month and a low of 30.0°F in its coldest, with 43.73" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,749 cooling and 3,859 heating degree days, which is what sets the $196 electricity line above.
See the full climate breakdown for Baltimore County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Baltimore County
Full Baltimore County cost breakdown · Every county in Maryland
Common questions
How much does it cost to own a home in Lutherville?
A $425,000 home in Lutherville, Maryland costs approximately $3,281 per month with 20% down at 6.66%. That is $2,185 principal and interest, $372 property tax, $106 homeowners insurance, $264 utilities and $354 set aside for maintenance.
What is the property tax rate in Lutherville?
Lutherville has an effective property tax rate of 1.050%, based on a median home value of $425,200 and median real estate taxes of $4,465. That is lower than the Baltimore County average of 1.105%.
What is the average home price in Lutherville?
The median owner-occupied home value in Lutherville, Maryland is $425,200, against $330,000 across Baltimore County.
Is it cheaper to rent or buy in Lutherville?
Median gross rent in Lutherville is $1,428 a month, against $3,281 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 Lutherville — 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.