Income needed to buy a home
Allegany County, MD
$53,568
a year in household income to buy the typical Allegany County home with 10% down.
The monthly math
Typical home value$158,340
Down payment (10%)$15,834
Loan$142,506
Principal and interest (7.40%)$987/mo
Property tax (0.94% a year)$125/mo
Homeowners insurance (estimate)$79/mo
Mortgage insurance$59/mo
Total monthly cost$1,250/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Within reach
The typical household here earns $59,603 a year, 11% more than it takes.
In Maryland
Allegany County ranks #1 of 24 for the income a home takes, from least to most.
Easiest to afford in Maryland
| County | Typical home | Income needed |
|---|---|---|
| Baltimore City | $183,320 | $64,828 |
| Somerset County | $211,844 | $69,846 |
| Dorchester County | $271,430 | $90,781 |
| Wicomico County | $274,639 | $91,148 |
| Caroline County | $330,127 | $109,434 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.