Compare Salisbury, MD mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Salisbury.
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January 24, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Salisbury. Understand how much you need to earn to afford a home in Salisbury, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Salisbury fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Salisbury is right for you.
The median home value for Salisbury, MD (Wicomico County) is $217,341
Based on current mortgage rates and a 10% down payment, you need to make $35,610 per year to buy the median priced home in Salisbury
With this income, you could qualify for a $195,607 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Salisbury is $825
The median household income for Salisbury, MD (Wicomico County) is $61,562
Based on this income, you can afford a home valued at approximately $375,732
The home price you can afford to buy based on household income in Salisbury is 173% of the median home value which means housing prices are average. Salisbury (Wicomico County) ranks 4 out of 24 counties in Maryland and 2,251 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Salisbury, MD is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Salisbury (Wicomico County) below.
Conforming loan limits for Salisbury, MD
FHA loan limits for Salisbury, MD
VA loan limits for Salisbury, MD