The typical owner-occupied home in Clear Spring is worth about $175,000, 58% below the Maryland median of $419,900 and 47% below the national median of $332,700. Owners pay a median $1,432 a year in property taxes, about 0.82% of their home's value, lower than the Maryland rate of 0.97%. The median household earns $47,375 a year, so the median home costs 3.7 times the median income (4.1 times for Maryland). 47% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Clear Spring at a glance
| Clear Spring | Maryland | U.S. | |
|---|---|---|---|
| Median home value | $175,000 | $419,900 | $332,700 |
| Median property tax paid per year | $1,432 | $4,093 | $3,119 |
| Property tax as a share of value | 0.82% | 0.97% | 0.94% |
| Median household income | $47,375 | $103,678 | $80,734 |
| Homes lived in by their owners | 47% | 68% | 65% |
| Owner homes with a mortgage | 56% | 71% | 61% |
| Median monthly costs, owners with a mortgage | $1,200 | $2,347 | $1,963 |
| Those costs as a share of the owners' income | 23.0% | 20.5% | 21.0% |
| Median rent | $1,352 | $1,705 | $1,413 |
| Rent as a share of renters' income | 32.0% | 30.8% | 30.6% |
| Median year homes were built | 1938 | 1979 | 1980 |
| Vacant homes | 16.5% | 7.7% | 10.1% |
| Population | 342 | 6,206,011 | 334,922,499 |
What a typical home costs per month in Clear Spring
At this week's average 30-year rate of 7.11%, buying the median Clear Spring home of $175,000 with 20% down costs about $1,134 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,426, 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 $48,612 for the 20%-down payment. That payment is 29% of the median Clear Spring household income of $47,375; at that income and 20% down, the 28% guideline points to a home of about $171,000.
The median rent here is $1,352 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $35,000 |
|---|---|
| Loan amount | $140,000 |
| Principal and interest | $942 |
| Property taxes (0.82% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| PMI | $0 |
| Total per month | $1,134 |
Change the numbers in the calculator
| Down payment | $6,125 |
|---|---|
| Loan amount | $171,830 |
| Principal and interest | $1,156 |
| Property taxes (0.82% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| FHA mortgage insurance | $77 |
| Total per month | $1,426 |
Change the numbers in the calculator
Questions about home buying in Clear Spring
What is the median home value in Clear Spring?
About $175,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Clear Spring?
Homeowners pay a median $1,432 a year, which is about 0.82% 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 Clear Spring?
For the median home with 20% down at 7.11%, the payment is about $1,134 a month. Keeping that under 28% of gross income takes about $48,612 a year.
More about Clear Spring
- Mortgage Refinance in Clear Spring
- Debt Relief in Clear Spring
- Home Equity Loans in Clear Spring
- 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