Quick facts: Fort washington, MD

Quick Facts

114.1
Cost of Living
above US average
25,825
Population
5.81
Crime Rate per 1000
below US average
$143,623
Median Income
above US average
$479,000
Median House Price
above US average
$2844.28
Average Rent
above US average
5%
Poverty Rate
below US average
3.5%
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 $143,623.

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Income Needed to Buy

βœ— Stretch
$150k/year
Based on $479,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $150k vs median $143,623
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Income Needed to Rent

βœ“ Affordable
$122k/year
Based on $2844.28/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($143,623) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Fort washington, MD

Fort Washington is a suburban community located in Prince George's County, Maryland, just south of Washington, D.C. Known for its blend of residential neighborhoods and access to natural beauty, it offers residents a peaceful environment with proximity to the nation's capital. The area is named after the historic Fort Washington, built in the early 19th century to protect the capital. The community features lush parks, such as Fort Washington Park, which provides scenic views of the Potomac River and is ideal for outdoor activities. The region is well-suited for families, with a range of schools and amenities, including shopping centers, restaurants, and recreational facilities. Fort Washington also has a strong sense of community, with various local events and gatherings that foster connections among residents. With easy access to major highways and public transportation, commuting to Washington, D.C., is convenient for those who work in the city. Overall, Fort Washington combines a suburban lifestyle with the advantages of urban proximity, making it an appealing place to live.

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