The typical owner-occupied home in Princess Anne is worth about $231,900, 45% below the Maryland median of $419,900 and 30% below the national median of $332,700. Owners pay a median $2,955 a year in property taxes, about 1.27% of their home's value, higher than the Maryland rate of 0.97%. The median household earns $69,116 a year, so the median home costs 3.4 times the median income (4.1 times for Maryland). 43% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Princess Anne at a glance
| Princess Anne | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $231,900 | $419,900 | $332,700 |
| Median property tax paid per year | $2,955 | $4,093 | $3,119 |
| Property tax as a share of value | 1.27% | 0.97% | 0.94% |
| Median household income | $69,116 | $103,678 | $80,734 |
| Homes lived in by their owners | 43% | 68% | 65% |
| Owner homes with a mortgage | 68% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $1,615 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 14.3% | 20.5% | 21.0% |
| Median rent | $1,048 | $1,705 | $1,413 |
| Rent as a share of renters' income | 31.4% | 30.8% | 30.6% |
| Median year homes were built | 2000 | 1979 | 1980 |
| Vacant homes | 30.5% | 7.7% | 10.1% |
| Population | 3,569 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Princess Anne
At this week's average 30-year rate of 7.11%, buying the median Princess Anne home of $231,900 with 20% down costs about $1,590 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,976, 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 $68,145 for the 20%-down payment. That payment is 28% of the median Princess Anne household income of $69,116; at that income and 20% down, the 28% guideline points to a home of about $235,000.
The median rent here is $1,048 a month, so owning the median home costs about $542 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,380 |
|---|---|
| Loan amount | $185,520 |
| Principal and interest | $1,248 |
| Property taxes (1.27% a year) | $245 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| PMI | $0 |
| Total per month | $1,590 |
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| Down payment | $8,116 |
|---|---|
| Loan amount | $227,700 |
| Principal and interest | $1,532 |
| Property taxes (1.27% a year) | $245 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| FHA mortgage insurance | $103 |
| Total per month | $1,976 |
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Questions about home buying in Princess Anne
What is the median home value in Princess Anne?
About $231,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Princess Anne?
Homeowners pay a median $2,955 a year, which is about 1.27% 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 Princess Anne?
For the median home with 20% down at 7.11%, the payment is about $1,590 a month. Keeping that under 28% of gross income takes about $68,145 a year.
More about Princess Anne
- Mortgage Refinance in Princess Anne
- Debt Relief in Princess Anne
- Home Equity Loans in Princess Anne
- 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