Total monthly cost of ownership
Cost to Own a Home in Prince Frederick, Maryland
A $383,000 home here costs
$3,097per 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 $132,500 a year.
A standard mortgage calculator would have told you $2,088. The real number is $1,009 higher every month, 48% more than the payment most buyers budget for.
Compare Calvert County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Prince Frederick from a five-year rolling sample, and with about 2,404 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Calvert County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Prince Frederick against Calvert County and Maryland
| Measure | Prince Frederick | Calvert County |
|---|---|---|
| Median home value | $383,000 | $440,200 |
| Median property tax | $3,923 | $3,858 |
| Effective tax rate | 1.024% | 0.876% |
| Median gross rent | $819 | $1,701 |
| Population | 2,404 | 93,791 |
The weather behind that power bill
Prince Frederick 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 $199 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
Talk to someone who works this market
These are Prince 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 Prince Frederick every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Prince Frederick I already own here and may sell
Common questions
How much does it cost to own a home in Prince Frederick?
A $383,000 home in Prince Frederick, Maryland costs approximately $3,097 per month with 20% down at 7.24%. That is $2,088 principal and interest, $327 property tax, $96 homeowners insurance, $267 utilities and $319 set aside for maintenance.
What is the property tax rate in Prince Frederick?
Prince Frederick has an effective property tax rate of 1.024%, based on a median home value of $383,000 and median real estate taxes of $3,923. That is higher than the Calvert County average of 0.876%.
What is the average home price in Prince Frederick?
The median owner-occupied home value in Prince Frederick, Maryland is $383,000, against $440,200 across Calvert County.
Is it cheaper to rent or buy in Prince Frederick?
Median gross rent in Prince Frederick is $819 a month, against $3,097 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 Prince Frederick?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Prince Frederick, Maryland at today's rate takes a household income of roughly $132,500 a year. That covers the full $3,097 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Prince 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.