The typical owner-occupied home in Cobb Island is worth about $275,000, 35% below the Maryland median of $419,900 and 17% below the national median of $332,700. Owners pay a median $3,559 a year in property taxes, about 1.29% of their home's value, higher than the Maryland rate of 0.97%. 100% of occupied homes here are lived in by their owners, and 90% of those owners still have a mortgage.
Cobb Island at a glance
| Cobb Island | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $275,000 | $419,900 | $332,700 |
| Median property tax paid per year | $3,559 | $4,093 | $3,119 |
| Property tax as a share of value | 1.29% | 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 | 90% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $2,125 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 28.2% | 20.5% | 21.0% |
| Median rent | – | $1,705 | $1,413 |
| Median year homes were built | 1944 | 1979 | 1980 |
| Vacant homes | 36.2% | 7.7% | 10.1% |
| Population | 916 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Cobb Island
At this week's average 30-year rate of 7.11%, buying the median Cobb Island home of $275,000 with 20% down costs about $1,890 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,348, 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 $81,007 for the 20%-down payment.
| Down payment | $55,000 |
|---|---|
| Loan amount | $220,000 |
| Principal and interest | $1,480 |
| Property taxes (1.29% a year) | $296 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| PMI | $0 |
| Total per month | $1,890 |
Change the numbers in the calculator
| Down payment | $9,625 |
|---|---|
| Loan amount | $270,019 |
| Principal and interest | $1,816 |
| Property taxes (1.29% a year) | $296 |
| Homeowners insurance (our estimate, 0.5% a year) | $115 |
| FHA mortgage insurance | $122 |
| Total per month | $2,348 |
Change the numbers in the calculator
Questions about home buying in Cobb Island
What is the median home value in Cobb Island?
About $275,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cobb Island?
Homeowners pay a median $3,559 a year, which is about 1.29% 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 Cobb Island?
For the median home with 20% down at 7.11%, the payment is about $1,890 a month. Keeping that under 28% of gross income takes about $81,007 a year.
More about Cobb Island
- Mortgage Refinance in Cobb Island
- Debt Relief in Cobb Island
- Home Equity Loans in Cobb 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