The typical owner-occupied home in Charlestown is worth about $378,400, 10% below the Maryland median of $419,900 and 14% above the national median of $332,700. Owners pay a median $3,786 a year in property taxes, about 1.00% of their home's value, close to the Maryland rate of 0.97%. The median household earns $122,125 a year, so the median home costs 3.1 times the median income (4.1 times for Maryland). 92% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Charlestown at a glance
| Charlestown | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $378,400 | $419,900 | $332,700 |
| Median property tax paid per year | $3,786 | $4,093 | $3,119 |
| Property tax as a share of value | 1.00% | 0.97% | 0.94% |
| Median household income | $122,125 | $103,678 | $80,734 |
| Homes lived in by their owners | 92% | 68% | 65% |
| Owner homes with a mortgage | 71% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $2,228 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 21.7% | 20.5% | 21.0% |
| Median rent | $1,735 | $1,705 | $1,413 |
| Rent as a share of renters' income | 19.3% | 30.8% | 30.6% |
| Median year homes were built | 1994 | 1979 | 1980 |
| Vacant homes | 5.2% | 7.7% | 10.1% |
| Population | 1,999 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Charlestown
At this week's average 30-year rate of 7.11%, buying the median Charlestown home of $378,400 with 20% down costs about $2,509 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,140, 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 $107,547 for the 20%-down payment. That payment is 25% of the median Charlestown household income of $122,125; at that income and 20% down, the 28% guideline points to a home of about $430,000.
The median rent here is $1,735 a month, so owning the median home costs about $774 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $75,680 |
|---|---|
| Loan amount | $302,720 |
| Principal and interest | $2,036 |
| Property taxes (1.00% a year) | $315 |
| Homeowners insurance (our estimate, 0.5% a year) | $158 |
| PMI | $0 |
| Total per month | $2,509 |
Change the numbers in the calculator
| Down payment | $13,244 |
|---|---|
| Loan amount | $371,546 |
| Principal and interest | $2,499 |
| Property taxes (1.00% a year) | $315 |
| Homeowners insurance (our estimate, 0.5% a year) | $158 |
| FHA mortgage insurance | $167 |
| Total per month | $3,140 |
Change the numbers in the calculator
Questions about home buying in Charlestown
What is the median home value in Charlestown?
About $378,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Charlestown?
Homeowners pay a median $3,786 a year, which is about 1.00% 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 Charlestown?
For the median home with 20% down at 7.11%, the payment is about $2,509 a month. Keeping that under 28% of gross income takes about $107,547 a year.
More about Charlestown
- Mortgage Refinance in Charlestown
- Debt Relief in Charlestown
- Home Equity Loans in Charlestown
- 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