Quick facts: Hydes, MD

Quick Facts

114.1
Cost of Living
above US average
2,000
Population
7.5
Crime Rate per 1000
below US average
$85,000
Median Income
above US average
$520,000
Median House Price
above US average
$1928
Average Rent
above US average
7%
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 $85,000.

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Income Needed to Buy

βœ— Stretch
$163k/year
Based on $520,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $163k vs median $85,000
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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 ($85,000) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hydes, MD

Hydes, Maryland, is a charming unincorporated community situated in Baltimore County, approximately 25 miles north of downtown Baltimore. Nestled in a picturesque area characterized by lush green landscapes and rural charm, Hydes offers a tranquil environment, making it an ideal spot for those looking to escape the hustle and bustle of city life. This small community is primarily residential, featuring a mix of historic homes and newer constructions. The surrounding area is known for its recreational opportunities, with several parks and nature reserves nearby, including the Gunpowder Falls State Park, which offers hiking, biking, and fishing. Hydes also boasts a tight-knit community spirit, with local events that foster connections among residents. Its location provides convenient access to nearby urban amenities while retaining its peaceful, rural atmosphere. For shopping and dining, residents often head to nearby towns such as Towson or Bel Air, ensuring access to a variety of services and entertainment options. Overall, Hydes, MD, embodies a serene lifestyle with beautiful scenery, making it a desirable place for families and individuals alike.

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