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Vale Summit

Learn about the people, housing, costs and businesses in Vale Summit, Maryland

Median Home$188,800
Median Rent$720/month
Population112
Leading IndustriesManufacturing · Professional Services · Retail3% manufacturing
Home Value Growth⬆⬆⬆+30.6% over 2 years
Family-Friendly23% of residentsnear the national average
Homeowners88% of occupied units
NotableVeteran Community17% of residents · top 1% nationally
NotableHigh Incomes$85k/year · top 30% nationally
Vale Summit
MD

Frequently Asked Questions

What are today's mortgage rates in Vale Summit?

As of today, the 30-year fixed mortgage rate for Vale Summit is approximately 6.985% (7.027% 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 Vale Summit?

The median home value in Vale Summit is $189k. The median monthly rent is $720. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Vale Summit?

Home values in Vale Summit have increased 30.6% 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 Vale Summit?

Based on a typical all-in ownership cost of $900/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $39k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Vale Summit is $85k/year.

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What industries drive the economy in Vale Summit?

The largest employment sectors in Vale Summit are public administration (24%) and retail (19%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.