Buying a home in Maryland

Property taxes, transfer taxes, home values and first-time buyer help in Maryland.

Effective property tax rate

0.97%

Median tax $4,093 ÷ median value $419,900 (ACS 2020–2024)

Typical home value

$428,308

Zillow ZHVI, 2026-08

State transfer tax

0.5%

Usually paid by: split. Md. Code, Tax-Property § 13-203 (transfer tax). Official source. Local taxes may add more.

Estimated buyer closing costs Estimate

$5,000–$6,700

On a $428,308 home: typical lender fees + title insurance + deed recording (TallyClose) + the buyer’s share of transfer/recording taxes. Excludes prepaids, escrow and local taxes.

At Maryland's effective rate of 0.97%, a typical $428,308 home would owe about $4,155/year ($346/month) in property taxes. Actual bills depend on your county, city and exemptions. Run your numbers.

First-time homebuyer programs

Maryland Department of Housing and Community Development

Your state housing finance agency offers down payment assistance and low-rate mortgages for eligible buyers. Visit Maryland Department of Housing and Community Development →

Sources: U.S. Census Bureau ACS 2020–2024 5-year (B25103, B25077); Zillow Home Value Index; TallyClose closing-cost dataset (CC BY 4.0), which cites each state statute; NCSHA HFA directory. Last updated 2026-10-15.