The typical owner-occupied home in Broomes Island is worth about $390,200, 7% below the Maryland median of $419,900 and 17% above the national median of $332,700. Owners pay a median $3,636 a year in property taxes, about 0.93% of their home's value, close to the Maryland rate of 0.97%. 100% of occupied homes here are lived in by their owners, and 88% of those owners still have a mortgage.
Broomes Island at a glance
| Broomes Island | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $390,200 | $419,900 | $332,700 |
| Median property tax paid per year | $3,636 | $4,093 | $3,119 |
| Property tax as a share of value | 0.93% | 0.97% | 0.94% |
| Median household income | – | $103,678 | $80,734 |
| Homes lived in by their owners | 100% | 68% | 65% |
| Owner homes with a mortgage | 88% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $1,729 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 21.9% | 20.5% | 21.0% |
| Median rent | – | $1,705 | $1,413 |
| Median year homes were built | 1978 | 1979 | 1980 |
| Vacant homes | 16.1% | 7.7% | 10.1% |
| Population | 460 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Broomes Island
At this week's average 30-year rate of 7.11%, buying the median Broomes Island home of $390,200 with 20% down costs about $2,565 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,215, 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 $109,925 for the 20%-down payment.
| Down payment | $78,040 |
|---|---|
| Loan amount | $312,160 |
| Principal and interest | $2,100 |
| Property taxes (0.93% a year) | $302 |
| Homeowners insurance (our estimate, 0.5% a year) | $163 |
| PMI | $0 |
| Total per month | $2,565 |
Change the numbers in the calculator
| Down payment | $13,657 |
|---|---|
| Loan amount | $383,132 |
| Principal and interest | $2,577 |
| Property taxes (0.93% a year) | $302 |
| Homeowners insurance (our estimate, 0.5% a year) | $163 |
| FHA mortgage insurance | $173 |
| Total per month | $3,215 |
Change the numbers in the calculator
Questions about home buying in Broomes Island
What is the median home value in Broomes Island?
About $390,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Broomes Island?
Homeowners pay a median $3,636 a year, which is about 0.93% 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 Broomes Island?
For the median home with 20% down at 7.11%, the payment is about $2,565 a month. Keeping that under 28% of gross income takes about $109,925 a year.
More about Broomes Island
- Mortgage Refinance in Broomes Island
- Debt Relief in Broomes Island
- Home Equity Loans in Broomes Island
- 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