The typical owner-occupied home in Jessup is worth about $462,000, 10% above the Maryland median of $419,900 and 39% above the national median of $332,700. Owners pay a median $4,565 a year in property taxes, about 0.99% of their home's value, close to the Maryland rate of 0.97%. The median household earns $128,851 a year, so the median home costs 3.6 times the median income (4.1 times for Maryland). 56% of occupied homes here are lived in by their owners, and 79% of those owners still have a mortgage.
Jessup at a glance
| Jessup | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $462,000 | $419,900 | $332,700 |
| Median property tax paid per year | $4,565 | $4,093 | $3,119 |
| Property tax as a share of value | 0.99% | 0.97% | 0.94% |
| Median household income | $128,851 | $103,678 | $80,734 |
| Homes lived in by their owners | 56% | 68% | 65% |
| Owner homes with a mortgage | 79% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $2,608 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 20.5% | 21.0% |
| Median rent | $2,187 | $1,705 | $1,413 |
| Rent as a share of renters' income | 24.7% | 30.8% | 30.6% |
| Median year homes were built | 2003 | 1979 | 1980 |
| Vacant homes | 0.0% | 7.7% | 10.1% |
| Population | 9,931 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Jessup
At this week's average 30-year rate of 7.11%, buying the median Jessup home of $462,000 with 20% down costs about $3,060 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,830, 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 $131,142 for the 20%-down payment. That payment is 28% of the median Jessup household income of $128,851; at that income and 20% down, the 28% guideline points to a home of about $454,000.
The median rent here is $2,187 a month, so owning the median home costs about $873 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $92,400 |
|---|---|
| Loan amount | $369,600 |
| Principal and interest | $2,486 |
| Property taxes (0.99% a year) | $381 |
| Homeowners insurance (our estimate, 0.5% a year) | $192 |
| PMI | $0 |
| Total per month | $3,060 |
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| Down payment | $16,170 |
|---|---|
| Loan amount | $453,632 |
| Principal and interest | $3,052 |
| Property taxes (0.99% a year) | $381 |
| Homeowners insurance (our estimate, 0.5% a year) | $192 |
| FHA mortgage insurance | $204 |
| Total per month | $3,830 |
Change the numbers in the calculator
Questions about home buying in Jessup
What is the median home value in Jessup?
About $462,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Jessup?
Homeowners pay a median $4,565 a year, which is about 0.99% 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 Jessup?
For the median home with 20% down at 7.11%, the payment is about $3,060 a month. Keeping that under 28% of gross income takes about $131,142 a year.
More about Jessup
- Mortgage Refinance in Jessup
- Debt Relief in Jessup
- Home Equity Loans in Jessup
- 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