The typical owner-occupied home in Midland is worth about $127,500, 70% below the Maryland median of $419,900 and 62% below the national median of $332,700. Owners pay a median $1,394 a year in property taxes, about 1.09% of their home's value, higher than the Maryland rate of 0.97%. The median household earns $63,906 a year, so the median home costs 2.0 times the median income (4.1 times for Maryland). 57% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Midland at a glance
| Midland | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $127,500 | $419,900 | $332,700 |
| Median property tax paid per year | $1,394 | $4,093 | $3,119 |
| Property tax as a share of value | 1.09% | 0.97% | 0.94% |
| Median household income | $63,906 | $103,678 | $80,734 |
| Homes lived in by their owners | 57% | 68% | 65% |
| Owner homes with a mortgage | 57% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $982 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 17.9% | 20.5% | 21.0% |
| Median rent | $696 | $1,705 | $1,413 |
| Rent as a share of renters' income | 33.4% | 30.8% | 30.6% |
| Median year homes were built | 1961 | 1979 | 1980 |
| Vacant homes | 7.2% | 7.7% | 10.1% |
| Population | 589 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Midland
At this week's average 30-year rate of 7.11%, buying the median Midland home of $127,500 with 20% down costs about $855 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,068, 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 $36,647 for the 20%-down payment. That payment is 16% of the median Midland household income of $63,906; at that income and 20% down, the 28% guideline points to a home of about $222,000.
The median rent here is $696 a month, so owning the median home costs about $159 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $25,500 |
|---|---|
| Loan amount | $102,000 |
| Principal and interest | $686 |
| Property taxes (1.09% a year) | $116 |
| Homeowners insurance (our estimate, 0.5% a year) | $53 |
| PMI | $0 |
| Total per month | $855 |
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| Down payment | $4,462 |
|---|---|
| Loan amount | $125,191 |
| Principal and interest | $842 |
| Property taxes (1.09% a year) | $116 |
| Homeowners insurance (our estimate, 0.5% a year) | $53 |
| FHA mortgage insurance | $56 |
| Total per month | $1,068 |
Change the numbers in the calculator
Questions about home buying in Midland
What is the median home value in Midland?
About $127,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Midland?
Homeowners pay a median $1,394 a year, which is about 1.09% 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 Midland?
For the median home with 20% down at 7.11%, the payment is about $855 a month. Keeping that under 28% of gross income takes about $36,647 a year.
More about Midland
- Mortgage Refinance in Midland
- Debt Relief in Midland
- Home Equity Loans in Midland
- 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