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Cambridge Real Estate Market Facts

  • $157,400Median home price
    46% lower than Maryland
  • $827Median rent asked
    35% lower than Maryland
  • 37.6%Home owners
    43% lower than Maryland
  • 2.3People per home
    11% lower than Maryland
Above, you'll find an overview of the real estate market in Cambridge, MD. Generally, real estate in the Cambridge, MD area is more affordable in Maryland, as the median price of a home in Cambridge, MD is $157,400, which is 46% lower than the Maryland average. The median rental price in Cambridge, MD is $827. This is 35% lower than the average rental price in Maryland. Home owners comprise 37.6% of the population of Cambridge, MD, where an average of 2.3 people live in each home. Various real estate options from luxurious homes to affordable condos and urban townhomes are available in Cambridge, MD. Below, you can search for real estate listings in Cambridge, MD using our search functionality that allows you to personalize your search and filter out location, price, and number of bedrooms and bathrooms.

Cambridge Home Affordability

  • $157,400Median home price
    46% lower than Maryland
  • $36,600Median home income
    52% lower than Maryland
  • 4.3xHome price to income ratio
    13% higher than Maryland
When searching for real estate in Cambridge, MD, home affordability is a critical aspect. The ratio of the house price to the median household income is one method used to figure out home affordability. In Cambridge, MD, the median house price is $157,400, while the median income for households in the area is $36,600. Therefore, the ratio of house price to income is 4.3x; this ratio is 13% higher than the average in Maryland. The calculation for the ratio of home affordability requires dividing the median household income by the median house price. The lower the aforementioned ratio, the more affordable homes are - when comparing the house price to the household income. However, there are more factors that come into play in terms of home affordability. The calculator below determines home affordability, and it can help you decide how much money you can afford to pay for real estate in Cambridge, MD.

Cambridge Affordability Calculator

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Finding the right home in Cambridge, MD means not only finding the right piece of real estate that meets your specifications, but finding a home that is priced within your individual budget requirements. Using the home affordability calculator is one of the best ways to determine your price range when seeking a Cambridge, MD home, by inputting your down payment, income, and debt information. An even more detailed analysis can be generated by calculating additional factors, such as mortgage rate, length of mortgage, property taxes, home insurance, and any HOA dues. After evaluating these factors, the calculator will display the price range of homes within that individual budget. Determining your price range prior to beginning your house hunt in Cambridge, MD will streamline the process by allowing you to seek only the homes you can comfortably afford. Using the home affordability calculator to determine your housing budget also gives you the peace of mind of knowing how much will remain in your budget for savings and other expenses.

Cambridge Mortgage Calculator

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So you want to buy some real estate in Cambridge, MD. What can you expect to pay for it on a monthly basis? This is determined in a number of different ways. One of the biggest variables when it comes to calculating the monthly price is simply the cost of the house itself. There are other significant factors though, such as interest rates, home owner's association fees, the amount of a down payment that was put on the property, PMI (private mortgage insurance), and property taxes. You can eliminate all PMI payments by making a down payment of at least 20% on the house. Using a mortgage calculator will have all these variables available, but they will be filled out with default data. These can be tweaked and filled in with the data specifically for the home you're looking at for a better overview of the monthly cost. When buying a home, you want to keep your debt to income ratio at 36%. This means that you want to pay no more than 36% of your monthly income on your house and other debt payments.

Cambridge Demographics

  • 12,552Population
  • 1,179People / sq mile
  • 34.4Median age
  • 0.8:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Secretary, MD681$136,10026%
Hurlock, MD2,092$137,80025%
East New Market, MD414$144,20022%
Vienna, MD283$148,10020%
Preston, MD903$188,5002%
Cambridge, MD12,552$157,40015%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Palos Heights, IL12,544$275,00049%
Lakeland, TN12,541$252,00036%
Gatesville, TX12,538$82,50055%
New Kingman-Butler, AZ12,566$52,00072%
Windsor Locks, CT12,537$190,7003%
Cambridge, MD12,552$157,40015%
Source: The Cambridge, MD housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).