The typical owner-occupied home in Cumberland is worth about $123,200, 71% below the Maryland median of $419,900 and 63% below the national median of $332,700. Owners pay a median $1,696 a year in property taxes, about 1.38% of their home's value, higher than the Maryland rate of 0.97%. The median household earns $48,162 a year, so the median home costs 2.6 times the median income (4.1 times for Maryland). 60% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Cumberland at a glance
| Cumberland | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $123,200 | $419,900 | $332,700 |
| Median property tax paid per year | $1,696 | $4,093 | $3,119 |
| Property tax as a share of value | 1.38% | 0.97% | 0.94% |
| Median household income | $48,162 | $103,678 | $80,734 |
| Homes lived in by their owners | 60% | 68% | 65% |
| Owner homes with a mortgage | 52% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $1,178 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 18.3% | 20.5% | 21.0% |
| Median rent | $741 | $1,705 | $1,413 |
| Rent as a share of renters' income | 30.8% | 30.8% | 30.6% |
| Median year homes were built | 1943 | 1979 | 1980 |
| Vacant homes | 20.8% | 7.7% | 10.1% |
| Population | 18,804 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Cumberland
At this week's average 30-year rate of 7.11%, buying the median Cumberland home of $123,200 with 20% down costs about $856 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,061, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $36,687 for the 20%-down payment. That payment is 21% of the median Cumberland household income of $48,162; at that income and 20% down, the 28% guideline points to a home of about $162,000.
The median rent here is $741 a month, so owning the median home costs about $115 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $24,640 |
|---|---|
| Loan amount | $98,560 |
| Principal and interest | $663 |
| Property taxes (1.38% a year) | $142 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| PMI | $0 |
| Total per month | $856 |
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| Down payment | $4,312 |
|---|---|
| Loan amount | $120,969 |
| Principal and interest | $814 |
| Property taxes (1.38% a year) | $142 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| FHA mortgage insurance | $54 |
| Total per month | $1,061 |
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Questions about home buying in Cumberland
What is the median home value in Cumberland?
About $123,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cumberland?
Homeowners pay a median $1,696 a year, which is about 1.38% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Cumberland?
For the median home with 20% down at 7.11%, the payment is about $856 a month. Keeping that under 28% of gross income takes about $36,687 a year.
More about Cumberland
- Mortgage Refinance in Cumberland
- Debt Relief in Cumberland
- Home Equity Loans in Cumberland
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data