Total monthly cost of ownership
Cost to Own a Home in Spring Ridge, Maryland
A $444,000 home here costs
$3,538per 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 $151,500 a year.
A standard mortgage calculator would have told you $2,459. The real number is $1,078 higher every month, 44% 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.
Spring Ridge against Frederick County and Maryland
| Measure | Spring Ridge | Frederick County |
|---|---|---|
| Median home value | $443,800 | $437,700 |
| Median property tax | $3,963 | $4,463 |
| Effective tax rate | 0.893% | 1.020% |
| Median gross rent | $1,804 | $1,706 |
| Population | 5,720 | 280,341 |
The weather behind that power bill
Spring Ridge 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 Spring Ridge 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 Spring Ridge every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Spring Ridge I already own here and may sell
Common questions
How much does it cost to own a home in Spring Ridge?
A $444,000 home in Spring Ridge, Maryland costs approximately $3,538 per month with 20% down at 7.4%. That is $2,459 principal and interest, $330 property tax, $111 homeowners insurance, $267 utilities and $370 set aside for maintenance.
What is the property tax rate in Spring Ridge?
Spring Ridge has an effective property tax rate of 0.893%, based on a median home value of $443,800 and median real estate taxes of $3,963. That is lower than the Frederick County average of 1.020%.
What is the average home price in Spring Ridge?
The median owner-occupied home value in Spring Ridge, Maryland is $443,800, against $437,700 across Frederick County.
Is it cheaper to rent or buy in Spring Ridge?
Median gross rent in Spring Ridge is $1,804 a month, against $3,538 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 Spring Ridge?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Spring Ridge, Maryland at today's rate takes a household income of roughly $151,500 a year. That covers the full $3,538 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Spring Ridge, 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.