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Mays Chapel

Learn about the people, housing, costs and businesses in Mays Chapel, Maryland

Median Home$537,929
Median Rent$1,799/month
Population12,299
Leading IndustriesEducation · Healthcare · Arts, Food & Hospitality4% education
Home Value Growth⬆⬆+18.4% over 2 years
Retirees52% of residentstop 1% nationally
Homeowners82% of occupied units
NotableVeteran Community13% of residents · top 4% nationally
NotableHigh Incomes$141k/year · top 5% nationally
Mays Chapel
MD

Frequently Asked Questions

What are today's mortgage rates in Mays Chapel?

As of today, the 30-year fixed mortgage rate for Mays Chapel is approximately 6.909% (6.946% 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 Mays Chapel?

The median home value in Mays Chapel is $538k. The median monthly rent is $1,799. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Mays Chapel?

Home values in Mays Chapel have increased 18.4% 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 Mays Chapel?

Based on a typical all-in ownership cost of $1,950/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $84k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Mays Chapel is $141k/year.

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What industries drive the economy in Mays Chapel?

The largest employment sectors in Mays Chapel are public administration (23%) and healthcare (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.