The typical owner-occupied home in Caroline County is worth about $290,100, 31% below the Maryland median of $419,900 and 13% below the national median of $332,700. Owners pay a median $2,619 a year in property taxes, about 0.90% of their home's value, lower than the Maryland rate of 0.97%. The median household earns $68,457 a year, so the median home costs 4.2 times the median income (4.1 times for Maryland). 72% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Caroline County at a glance
| Caroline County | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $290,100 | $419,900 | $332,700 |
| Median property tax paid per year | $2,619 | $4,093 | $3,119 |
| Property tax as a share of value | 0.90% | 0.97% | 0.94% |
| Median household income | $68,457 | $103,678 | $80,734 |
| Homes lived in by their owners | 72% | 68% | 65% |
| Owner homes with a mortgage | 63% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $1,758 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 23.5% | 20.5% | 21.0% |
| Median rent | $1,105 | $1,705 | $1,413 |
| Rent as a share of renters' income | 31.6% | 30.8% | 30.6% |
| Median year homes were built | 1981 | 1979 | 1980 |
| Vacant homes | 7.7% | 7.7% | 10.1% |
| Population | 33,669 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Caroline County
At this week's average 30-year rate of 7.11%, buying the median Caroline County home of $290,100 with 20% down costs about $1,900 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,383, 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 $81,414 for the 20%-down payment. That payment is 33% of the median Caroline County household income of $68,457; at that income and 20% down, the 28% guideline points to a home of about $244,000.
The median rent here is $1,105 a month, so owning the median home costs about $795 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $58,020 |
|---|---|
| Loan amount | $232,080 |
| Principal and interest | $1,561 |
| Property taxes (0.90% a year) | $218 |
| Homeowners insurance (our estimate, 0.5% a year) | $121 |
| PMI | $0 |
| Total per month | $1,900 |
Change the numbers in the calculator
| Down payment | $10,154 |
|---|---|
| Loan amount | $284,846 |
| Principal and interest | $1,916 |
| Property taxes (0.90% a year) | $218 |
| Homeowners insurance (our estimate, 0.5% a year) | $121 |
| FHA mortgage insurance | $128 |
| Total per month | $2,383 |
Change the numbers in the calculator
Questions about home buying in Caroline County
What is the median home value in Caroline County?
About $290,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Caroline County?
Homeowners pay a median $2,619 a year, which is about 0.90% 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 Caroline County?
For the median home with 20% down at 7.11%, the payment is about $1,900 a month. Keeping that under 28% of gross income takes about $81,414 a year.
More about Caroline County
- Mortgage Refinance in Caroline County
- Debt Relief in Caroline County
- Home Equity Loans in Caroline County
- 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