The typical owner-occupied home in Severn is worth about $479,200, 14% above the Maryland median of $419,900 and 44% above the national median of $332,700. Owners pay a median $4,093 a year in property taxes, about 0.85% of their home's value, lower than the Maryland rate of 0.97%. The median household earns $134,423 a year, so the median home costs 3.6 times the median income (4.1 times for Maryland). 71% of occupied homes here are lived in by their owners, and 75% of those owners still have a mortgage.
Severn at a glance
| Severn | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $479,200 | $419,900 | $332,700 |
| Median property tax paid per year | $4,093 | $4,093 | $3,119 |
| Property tax as a share of value | 0.85% | 0.97% | 0.94% |
| Median household income | $134,423 | $103,678 | $80,734 |
| Homes lived in by their owners | 71% | 68% | 65% |
| Owner homes with a mortgage | 75% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $2,610 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 20.2% | 20.5% | 21.0% |
| Median rent | $2,175 | $1,705 | $1,413 |
| Rent as a share of renters' income | 28.4% | 30.8% | 30.6% |
| Median year homes were built | 1997 | 1979 | 1980 |
| Vacant homes | 2.6% | 7.7% | 10.1% |
| Population | 58,402 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Severn
At this week's average 30-year rate of 7.11%, buying the median Severn home of $479,200 with 20% down costs about $3,118 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,916, 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 $133,628 for the 20%-down payment. That payment is 28% of the median Severn household income of $134,423; at that income and 20% down, the 28% guideline points to a home of about $482,000.
The median rent here is $2,175 a month, so owning the median home costs about $943 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $95,840 |
|---|---|
| Loan amount | $383,360 |
| Principal and interest | $2,579 |
| Property taxes (0.85% a year) | $339 |
| Homeowners insurance (our estimate, 0.5% a year) | $200 |
| PMI | $0 |
| Total per month | $3,118 |
Change the numbers in the calculator
| Down payment | $16,772 |
|---|---|
| Loan amount | $470,520 |
| Principal and interest | $3,165 |
| Property taxes (0.85% a year) | $339 |
| Homeowners insurance (our estimate, 0.5% a year) | $200 |
| FHA mortgage insurance | $212 |
| Total per month | $3,916 |
Change the numbers in the calculator
Questions about home buying in Severn
What is the median home value in Severn?
About $479,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Severn?
Homeowners pay a median $4,093 a year, which is about 0.85% 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 Severn?
For the median home with 20% down at 7.11%, the payment is about $3,118 a month. Keeping that under 28% of gross income takes about $133,628 a year.
More about Severn
- Mortgage Refinance in Severn
- Debt Relief in Severn
- Home Equity Loans in Severn
- 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