Gaithersburg, MD home values, income, and owner costs

Start with the dated local finding: In Gaithersburg, MD, the 2024 ACS reports a median owner-occupied home value of $496,500, median household income of $112,467, and median selected monthly owner costs of $2,777 for owners with a mortgage. Together, those three reference points may help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $2,777 measure combines recurring ownership expenses in place of real estate taxes alone. For borrower planning, a useful affordability review starts with $496,500, $112,467, and $2,777, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.

Gaithersburg, MD's $496,500 median home-value estimate is above the statewide $419,900 estimate, with a reported city-to-state gap of 18.2%. That 18.2% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Gaithersburg, MD. It does not mean every local property is 18.2% away from a comparable property elsewhere in the state, because the medians reflect different housing mixes and geographies. For borrower planning, borrowers can apply $496,500 and $419,900 to decide which assumptions need local replacement first, then compare actual properties and current financing disclosures on the same basis.