Quick facts: Annapolis, MD

Quick Facts

115.3
Cost of Living
above US average
40,648
Population
24.68
Crime Rate per 1000
above US average
$97,219
Median Income
above US average
$650,000
Median House Price
above US average
$2741.49
Average Rent
above US average
8%
Poverty Rate
below US average
2.7%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $97,219.

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Income Needed to Buy

βœ— Stretch
$204k/year
Based on $650,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $204k vs median $97,219
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Income Needed to Rent

⚠ Stretch
$117k/year
Based on $2741.49/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $117k vs median $97,219
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Annapolis, MD

Annapolis, Maryland, is a historic city and the state capital, located on the Chesapeake Bay. Known for its rich maritime heritage, Annapolis boasts stunning waterfront views and a vibrant downtown area filled with colonial architecture, charming boutiques, and restaurants. The city is home to the United States Naval Academy, which plays a significant role in its identity, offering tours that showcase its historic buildings and traditions. The waterfront area, known as City Dock, is a hub for sailing and boating enthusiasts, making Annapolis a popular destination for water sports. The city hosts various annual events, such as the Annapolis Boat Show, attracting visitors from all over. Annapolis also features numerous parks and outdoor spaces, including Sandy Point State Park, which offers beaches and trails. Cultural attractions include the Maryland State House, the oldest state capitol still in continuous legislative use, and several museums that highlight the city’s colonial past. With a unique blend of history, culture, and scenic beauty, Annapolis is an attractive destination for both residents and tourists.

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