Total monthly cost of ownership
Cost to Own a Home in Owings, Maryland
A $593,000 home here costs
$4,368per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,049. The real number is $1,320 higher every month — 43% 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.
Owings against Calvert County and Maryland
| Measure | Owings | Calvert County |
|---|---|---|
| Median home value | $592,900 | $440,200 |
| Median property tax | $4,961 | $3,858 |
| Effective tax rate | 0.837% | 0.876% |
| Median gross rent | — | $1,701 |
| Population | 2,475 | 93,791 |
The weather behind that power bill
Owings sits in Calvert County, which averages a high of 87.3°F in its hottest month and a low of 29.5°F in its coldest, with 45.3" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,508 cooling and 3,927 heating degree days, which is what sets the $196 electricity line above.
See the full climate breakdown for Calvert County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Calvert County
Full Calvert County cost breakdown · Every county in Maryland
Common questions
How much does it cost to own a home in Owings?
A $593,000 home in Owings, Maryland costs approximately $4,368 per month with 20% down at 6.66%. That is $3,049 principal and interest, $414 property tax, $148 homeowners insurance, $264 utilities and $494 set aside for maintenance.
What is the property tax rate in Owings?
Owings has an effective property tax rate of 0.837%, based on a median home value of $592,900 and median real estate taxes of $4,961. That is lower than the Calvert County average of 0.876%.
What is the average home price in Owings?
The median owner-occupied home value in Owings, Maryland is $592,900, against $440,200 across Calvert County.
Is it cheaper to rent or buy in Owings?
Rent data is not published for Owings at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Owings — 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.