Quick facts: Leonardtown, MD

Quick Facts

114.1
Cost of Living
above US average
4,905
Population
8.15
Crime Rate per 1000
below US average
$138,295
Median Income
above US average
$519,900
Median House Price
above US average
$2954.75
Average Rent
above US average
5%
Poverty Rate
below US average
3.2%
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 $138,295.

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Income Needed to Buy

βœ— Stretch
$163k/year
Based on $519,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $163k vs median $138,295
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Income Needed to Rent

βœ“ Affordable
$127k/year
Based on $2954.75/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($138,295) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Leonardtown, MD

Leonardtown is a charming small town located in St. Mary's County, Maryland. Established in 1708, it is known for its rich history and picturesque waterfront. The town serves as the county seat and provides a blend of historic architecture and modern amenities. One of its highlights is the Leonardtown Wharf, which offers scenic views of the Patuxent River and is a popular spot for recreational activities. Visitors can explore the Historic Leonardtown Walking Trail, which connects various landmarks, including the Old Jail Museum and the St. Mary’s County Court House. The town is also home to a variety of local shops, restaurants, and cafes that contribute to its inviting community feel. Leonardtown hosts several events throughout the year, including the Annual Leonardtown Blessing of the Fleet and various seasonal festivals that celebrate the arts, culture, and local heritage. With its close-knit community atmosphere and easy access to outdoor activities, Leonardtown is a delightful destination for both residents and visitors seeking a taste of Maryland’s history and charm.

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