Quick facts: Galesville, MD

Quick Facts

114.1
Cost of Living
above US average
1,226
Population
36.7
Crime Rate per 1000
above US average
$188,333
Median Income
above US average
$399,000
Median House Price
above US average
$1928
Average Rent
above US average
Poverty rate Data is updating, will be available soon
2.5%
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 $188,333.

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Income Needed to Buy

βœ“ Affordable
$125k/year
Based on $399,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($188,333) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$83k/year
Based on $1928/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($188,333) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Galesville, MD

Galesville is a small, charming community situated in Anne Arundel County, Maryland, along the scenic shores of the Chesapeake Bay. With a rich history dating back to the 17th century, Galesville is known for its picturesque waterfront views and quaint character. The area is primarily residential, featuring a blend of historic homes and modern properties, making it an appealing location for families and individuals seeking a peaceful lifestyle near the water. The town is closely knit, with a strong sense of community, as seen in events throughout the year, such as the Galesville Memorial Day Parade and local arts and crafts festivals. Galesville also benefits from its proximity to larger towns, allowing residents to enjoy a quiet, rural atmosphere while still having access to urban amenities. Outdoor enthusiasts can take advantage of the surrounding natural beauty, including parks, trails, and boating opportunities. Galesville serves as a hidden gem for those looking to experience the charm of Maryland's Eastern Shore while being near the vibrant city life of Annapolis and Washington, D.C.

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