The typical owner-occupied home in Chevy Chase is worth about $1,245,000, 3.0 times the Maryland median of $419,900 and 3.7 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 0.80% of their home's value, lower than the Maryland rate of 0.97%. The median household earns $211,765 a year, so the median home costs 5.9 times the median income (4.1 times for Maryland). 76% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Chevy Chase at a glance
| Chevy Chase | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $1,245,000 | $419,900 | $332,700 |
| Median property tax paid per year | $10,001 | $4,093 | $3,119 |
| Property tax as a share of value | 0.80% | 0.97% | 0.94% |
| Median household income | $211,765 | $103,678 | $80,734 |
| Homes lived in by their owners | 76% | 68% | 65% |
| Owner homes with a mortgage | 64% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 20.5% | 21.0% |
| Median rent | $3,501 | $1,705 | $1,413 |
| Rent as a share of renters' income | 36.4% | 30.8% | 30.6% |
| Median year homes were built | 1959 | 1979 | 1980 |
| Vacant homes | 8.7% | 7.7% | 10.1% |
| Population | 9,445 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Chevy Chase
At this week's average 30-year rate of 7.11%, buying the median Chevy Chase home of $1,245,000 with 20% down costs about $8,049 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $10,323, 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 $344,953 for the 20%-down payment. That payment is 46% of the median Chevy Chase household income of $211,765; at that income and 20% down, the 28% guideline points to a home of about $764,000.
The median rent here is $3,501 a month, so owning the median home costs about $4,548 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $249,000 |
|---|---|
| Loan amount | $996,000 |
| Principal and interest | $6,700 |
| Property taxes (0.80% a year) | $830 |
| Homeowners insurance (our estimate, 0.5% a year) | $519 |
| PMI | $0 |
| Total per month | $8,049 |
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| Down payment | $43,575 |
|---|---|
| Loan amount | $1,222,450 |
| Principal and interest | $8,224 |
| Property taxes (0.80% a year) | $830 |
| Homeowners insurance (our estimate, 0.5% a year) | $519 |
| FHA mortgage insurance | $751 |
| Total per month | $10,323 |
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Questions about home buying in Chevy Chase
What is the median home value in Chevy Chase?
About $1,245,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chevy Chase?
Homeowners pay a median $10,001 a year, which is about 0.80% 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 Chevy Chase?
For the median home with 20% down at 7.11%, the payment is about $8,049 a month. Keeping that under 28% of gross income takes about $344,953 a year.
More about Chevy Chase
- Mortgage Refinance in Chevy Chase
- Debt Relief in Chevy Chase
- Home Equity Loans in Chevy Chase
- 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