The typical owner-occupied home in Mount Savage is worth about $108,300, 74% below the Maryland median of $419,900 and 67% below the national median of $332,700. Owners pay a median $752 a year in property taxes, about 0.69% of their home's value, lower than the Maryland rate of 0.97%. The median household earns $51,691 a year, so the median home costs 2.1 times the median income (4.1 times for Maryland). 81% of occupied homes here are lived in by their owners, and 34% of those owners still have a mortgage.
Mount Savage at a glance
| Mount Savage | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $108,300 | $419,900 | $332,700 |
| Median property tax paid per year | $752 | $4,093 | $3,119 |
| Property tax as a share of value | 0.69% | 0.97% | 0.94% |
| Median household income | $51,691 | $103,678 | $80,734 |
| Homes lived in by their owners | 81% | 68% | 65% |
| Owner homes with a mortgage | 34% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $1,647 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 24.9% | 20.5% | 21.0% |
| Median rent | $649 | $1,705 | $1,413 |
| Rent as a share of renters' income | 19.9% | 30.8% | 30.6% |
| Median year homes were built | 1938 | 1979 | 1980 |
| Vacant homes | 23.2% | 7.7% | 10.1% |
| Population | 514 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Mount Savage
At this week's average 30-year rate of 7.11%, buying the median Mount Savage home of $108,300 with 20% down costs about $690 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $871, 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 $29,581 for the 20%-down payment. That payment is 16% of the median Mount Savage household income of $51,691; at that income and 20% down, the 28% guideline points to a home of about $189,000.
The median rent here is $649 a month, so owning the median home costs about $41 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $21,660 |
|---|---|
| Loan amount | $86,640 |
| Principal and interest | $583 |
| Property taxes (0.69% a year) | $62 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| PMI | $0 |
| Total per month | $690 |
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| Down payment | $3,790 |
|---|---|
| Loan amount | $106,338 |
| Principal and interest | $715 |
| Property taxes (0.69% a year) | $62 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| FHA mortgage insurance | $48 |
| Total per month | $871 |
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Questions about home buying in Mount Savage
What is the median home value in Mount Savage?
About $108,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mount Savage?
Homeowners pay a median $752 a year, which is about 0.69% 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 Mount Savage?
For the median home with 20% down at 7.11%, the payment is about $690 a month. Keeping that under 28% of gross income takes about $29,581 a year.
More about Mount Savage
- Mortgage Refinance in Mount Savage
- Debt Relief in Mount Savage
- Home Equity Loans in Mount Savage
- 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