Income needed to buy a home
Somerset County, MD
$69,846
a year in household income to buy the typical Somerset County home with 10% down.
The monthly math
Typical home value$211,844
Down payment (10%)$21,184
Loan$190,660
Principal and interest (7.40%)$1,320/mo
Property tax (0.7% a year)$124/mo
Homeowners insurance (estimate)$106/mo
Mortgage insurance$79/mo
Total monthly cost$1,630/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Right at the edge
The typical household here earns $64,943 a year, 93% of what it takes.
In Maryland
Somerset County ranks #3 of 24 for the income a home takes, from least to most.
Easiest to afford in Maryland
| County | Typical home | Income needed |
|---|---|---|
| Allegany County | $158,340 | $53,568 |
| Baltimore City | $183,320 | $64,828 |
| 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.