The typical owner-occupied home in Edgewood is worth about $242,200, 42% below the Maryland median of $419,900 and 27% below the national median of $332,700. Owners pay a median $2,109 a year in property taxes, about 0.87% of their home's value, lower than the Maryland rate of 0.97%. The median household earns $80,772 a year, so the median home costs 3.0 times the median income (4.1 times for Maryland). 70% of occupied homes here are lived in by their owners, and 75% of those owners still have a mortgage.
Edgewood at a glance
| Edgewood | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $242,200 | $419,900 | $332,700 |
| Median property tax paid per year | $2,109 | $4,093 | $3,119 |
| Property tax as a share of value | 0.87% | 0.97% | 0.94% |
| Median household income | $80,772 | $103,678 | $80,734 |
| Homes lived in by their owners | 70% | 68% | 65% |
| Owner homes with a mortgage | 75% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $1,643 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 20.7% | 20.5% | 21.0% |
| Median rent | $1,375 | $1,705 | $1,413 |
| Rent as a share of renters' income | 36.4% | 30.8% | 30.6% |
| Median year homes were built | 1980 | 1979 | 1980 |
| Vacant homes | 5.0% | 7.7% | 10.1% |
| Population | 24,922 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Edgewood
At this week's average 30-year rate of 7.11%, buying the median Edgewood home of $242,200 with 20% down costs about $1,580 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,983, 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 $67,712 for the 20%-down payment. That payment is 23% of the median Edgewood household income of $80,772; at that income and 20% down, the 28% guideline points to a home of about $289,000.
The median rent here is $1,375 a month, so owning the median home costs about $205 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $48,440 |
|---|---|
| Loan amount | $193,760 |
| Principal and interest | $1,303 |
| Property taxes (0.87% a year) | $176 |
| Homeowners insurance (our estimate, 0.5% a year) | $101 |
| PMI | $0 |
| Total per month | $1,580 |
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| Down payment | $8,477 |
|---|---|
| Loan amount | $237,813 |
| Principal and interest | $1,600 |
| Property taxes (0.87% a year) | $176 |
| Homeowners insurance (our estimate, 0.5% a year) | $101 |
| FHA mortgage insurance | $107 |
| Total per month | $1,983 |
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Questions about home buying in Edgewood
What is the median home value in Edgewood?
About $242,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Edgewood?
Homeowners pay a median $2,109 a year, which is about 0.87% 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 Edgewood?
For the median home with 20% down at 7.11%, the payment is about $1,580 a month. Keeping that under 28% of gross income takes about $67,712 a year.
More about Edgewood
- Mortgage Refinance in Edgewood
- Debt Relief in Edgewood
- Home Equity Loans in Edgewood
- 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