The typical owner-occupied home in East New Market is worth about $268,100, 36% below the Maryland median of $419,900 and 19% below the national median of $332,700. Owners pay a median $2,368 a year in property taxes, about 0.88% of their home's value, lower than the Maryland rate of 0.97%. The median household earns $42,917 a year, so the median home costs 6.2 times the median income (4.1 times for Maryland). 73% of occupied homes here are lived in by their owners, and 76% of those owners still have a mortgage.
East New Market at a glance
| East New Market | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $268,100 | $419,900 | $332,700 |
| Median property tax paid per year | $2,368 | $4,093 | $3,119 |
| Property tax as a share of value | 0.88% | 0.97% | 0.94% |
| Median household income | $42,917 | $103,678 | $80,734 |
| Homes lived in by their owners | 73% | 68% | 65% |
| Owner homes with a mortgage | 76% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $1,549 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 34.2% | 20.5% | 21.0% |
| Median rent | $1,250 | $1,705 | $1,413 |
| Rent as a share of renters' income | 43.0% | 30.8% | 30.6% |
| Median year homes were built | 1990 | 1979 | 1980 |
| Vacant homes | 11.4% | 7.7% | 10.1% |
| Population | 246 | 6,206,011 | 334,922,499 |
What a typical home costs per month in East New Market
At this week's average 30-year rate of 7.11%, buying the median East New Market home of $268,100 with 20% down costs about $1,751 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,198, 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 $75,049 for the 20%-down payment. That payment is 49% of the median East New Market household income of $42,917; at that income and 20% down, the 28% guideline points to a home of about $153,000.
The median rent here is $1,250 a month, so owning the median home costs about $501 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $53,620 |
|---|---|
| Loan amount | $214,480 |
| Principal and interest | $1,443 |
| Property taxes (0.88% a year) | $197 |
| Homeowners insurance (our estimate, 0.5% a year) | $112 |
| PMI | $0 |
| Total per month | $1,751 |
Change the numbers in the calculator
| Down payment | $9,384 |
|---|---|
| Loan amount | $263,244 |
| Principal and interest | $1,771 |
| Property taxes (0.88% a year) | $197 |
| Homeowners insurance (our estimate, 0.5% a year) | $112 |
| FHA mortgage insurance | $119 |
| Total per month | $2,198 |
Change the numbers in the calculator
Questions about home buying in East New Market
What is the median home value in East New Market?
About $268,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in East New Market?
Homeowners pay a median $2,368 a year, which is about 0.88% 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 East New Market?
For the median home with 20% down at 7.11%, the payment is about $1,751 a month. Keeping that under 28% of gross income takes about $75,049 a year.
More about East New Market
- Mortgage Refinance in East New Market
- Debt Relief in East New Market
- Home Equity Loans in East New Market
- 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