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Solomons

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

Median Home$408,700
Median Rent$2,612/month
Population3,017
Leading IndustriesArts, Food & Hospitality · Healthcare · Wholesale Trade16% arts, food & hospitality
Home Value Growth⬆⬆+11.9% over 2 years
Retirees27% of residentsabove average nationally
Homeowners76% of occupied units
NotableVeteran Community14% of residents · top 3% nationally
NotableHigh Incomes$138k/year · top 5% nationally
Solomons
MD

Frequently Asked Questions

What are today's mortgage rates in Solomons?

As of today, the 30-year fixed mortgage rate for Solomons is approximately 6.849% (6.883% 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 Solomons?

The median home value in Solomons is $409k. The median monthly rent is $2,612. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Solomons?

Home values in Solomons have increased 11.9% 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 Solomons?

Based on a typical all-in ownership cost of $1,737/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $74k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Solomons is $138k/year.

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What industries drive the economy in Solomons?

The largest employment sectors in Solomons are public administration (19%) and healthcare (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.