The typical owner-occupied home in Grasonville is worth about $459,600, 9% above the Maryland median of $419,900 and 38% above the national median of $332,700. Owners pay a median $4,066 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 $120,676 a year, so the median home costs 3.8 times the median income (4.1 times for Maryland). 79% of occupied homes here are lived in by their owners, and 82% of those owners still have a mortgage.
Grasonville at a glance
| Grasonville | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $459,600 | $419,900 | $332,700 |
| Median property tax paid per year | $4,066 | $4,093 | $3,119 |
| Property tax as a share of value | 0.88% | 0.97% | 0.94% |
| Median household income | $120,676 | $103,678 | $80,734 |
| Homes lived in by their owners | 79% | 68% | 65% |
| Owner homes with a mortgage | 82% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $2,398 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 21.4% | 20.5% | 21.0% |
| Median rent | $1,622 | $1,705 | $1,413 |
| Rent as a share of renters' income | 32.5% | 30.8% | 30.6% |
| Median year homes were built | 1998 | 1979 | 1980 |
| Vacant homes | 21.1% | 7.7% | 10.1% |
| Population | 3,564 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Grasonville
At this week's average 30-year rate of 7.11%, buying the median Grasonville home of $459,600 with 20% down costs about $3,002 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,768, 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 $128,655 for the 20%-down payment. That payment is 30% of the median Grasonville household income of $120,676; at that income and 20% down, the 28% guideline points to a home of about $431,000.
The median rent here is $1,622 a month, so owning the median home costs about $1,380 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $91,920 |
|---|---|
| Loan amount | $367,680 |
| Principal and interest | $2,473 |
| Property taxes (0.88% a year) | $337 |
| Homeowners insurance (our estimate, 0.5% a year) | $192 |
| PMI | $0 |
| Total per month | $3,002 |
Change the numbers in the calculator
| Down payment | $16,086 |
|---|---|
| Loan amount | $451,276 |
| Principal and interest | $3,036 |
| Property taxes (0.88% a year) | $337 |
| Homeowners insurance (our estimate, 0.5% a year) | $192 |
| FHA mortgage insurance | $203 |
| Total per month | $3,768 |
Change the numbers in the calculator
Questions about home buying in Grasonville
What is the median home value in Grasonville?
About $459,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Grasonville?
Homeowners pay a median $4,066 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 Grasonville?
For the median home with 20% down at 7.11%, the payment is about $3,002 a month. Keeping that under 28% of gross income takes about $128,655 a year.
More about Grasonville
- Mortgage Refinance in Grasonville
- Debt Relief in Grasonville
- Home Equity Loans in Grasonville
- 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