The typical owner-occupied home in Solomons is worth about $436,800, 4% above the Maryland median of $419,900 and 31% above the national median of $332,700. Owners pay a median $3,553 a year in property taxes, about 0.81% of their home's value, lower than the Maryland rate of 0.97%. The median household earns $94,963 a year, so the median home costs 4.6 times the median income (4.1 times for Maryland). 71% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Solomons at a glance
| Solomons | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $436,800 | $419,900 | $332,700 |
| Median property tax paid per year | $3,553 | $4,093 | $3,119 |
| Property tax as a share of value | 0.81% | 0.97% | 0.94% |
| Median household income | $94,963 | $103,678 | $80,734 |
| Homes lived in by their owners | 71% | 68% | 65% |
| Owner homes with a mortgage | 64% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $2,330 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 18.8% | 20.5% | 21.0% |
| Median rent | $3,189 | $1,705 | $1,413 |
| Rent as a share of renters' income | 48.6% | 30.8% | 30.6% |
| Median year homes were built | 1998 | 1979 | 1980 |
| Vacant homes | 12.6% | 7.7% | 10.1% |
| Population | 2,440 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Solomons
At this week's average 30-year rate of 7.11%, buying the median Solomons home of $436,800 with 20% down costs about $2,828 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,555, 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 $121,181 for the 20%-down payment. That payment is 36% of the median Solomons household income of $94,963; at that income and 20% down, the 28% guideline points to a home of about $342,000.
The median rent here is $3,189 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $87,360 |
|---|---|
| Loan amount | $349,440 |
| Principal and interest | $2,351 |
| Property taxes (0.81% a year) | $295 |
| Homeowners insurance (our estimate, 0.5% a year) | $182 |
| PMI | $0 |
| Total per month | $2,828 |
Change the numbers in the calculator
| Down payment | $15,288 |
|---|---|
| Loan amount | $428,888 |
| Principal and interest | $2,885 |
| Property taxes (0.81% a year) | $295 |
| Homeowners insurance (our estimate, 0.5% a year) | $182 |
| FHA mortgage insurance | $193 |
| Total per month | $3,555 |
Change the numbers in the calculator
Questions about home buying in Solomons
What is the median home value in Solomons?
About $436,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Solomons?
Homeowners pay a median $3,553 a year, which is about 0.81% 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 Solomons?
For the median home with 20% down at 7.11%, the payment is about $2,828 a month. Keeping that under 28% of gross income takes about $121,181 a year.
More about Solomons
- Mortgage Refinance in Solomons
- Debt Relief in Solomons
- Home Equity Loans in Solomons
- 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