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Mayo

Learn about the people, housing, costs and businesses in Mayo, Maryland

Median Home$605,200
Median Rent$2,487/month
Population8,694
Leading IndustriesArts, Food & Hospitality · Healthcare · Professional Services13% arts, food & hospitality
Home Value Growth⬆⬆+12.0% over 2 years
Young Adults28% of residentsnear the national average
Homeowners91% of occupied units
NotableHigh Incomes$156k/year · top 3% nationally
NotableHighly Educated30% bachelor's · 18% graduate · top 9% nationally
Mayo
MD

Frequently Asked Questions

What are today's mortgage rates in Mayo?

As of today, the 30-year fixed mortgage rate for Mayo is approximately 6.840% (6.874% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Mayo?

The median home value in Mayo is $605k. The median monthly rent is $2,487. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Mayo?

Home values in Mayo have increased 12.0% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Mayo?

Based on a typical all-in ownership cost of $2,333/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $100k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Mayo is $156k/year.

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What industries drive the economy in Mayo?

The largest employment sectors in Mayo are public administration (28%) and healthcare (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.