Quick facts: Preston, MD

Quick Facts

114.1
Cost of Living
above US average
677
Population
5.91
Crime Rate per 1000
below US average
$65,500
Median Income
below US average
$359,000
Median House Price
above US average
$2100.0
Average Rent
above US average
6%
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 $65,500.

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Income Needed to Buy

βœ— Stretch
$113k/year
Based on $359,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $113k vs median $65,500
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Income Needed to Rent

⚠ Stretch
$90k/year
Based on $2100.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $90k vs median $65,500
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Preston, MD

Preston, located in Caroline County, Maryland, is a charming small town with a rich agricultural heritage. Nestled along the banks of the Choptank River, it provides a tranquil setting surrounded by lush landscapes and farmland. The town is primarily residential, offering a close-knit community atmosphere characterized by friendly neighbors and local businesses. Preston is known for its scenic beauty, making it an ideal spot for outdoor enthusiasts. The nearby Choptank River provides opportunities for fishing, kayaking, and boating. The surrounding countryside is dotted with farms, offering a picturesque backdrop perfect for leisurely drives and biking. The town features historical architecture and a few local eateries that reflect its small-town charm. Residents and visitors alike can enjoy community events and gatherings that foster a sense of belonging. Although Preston is small, it offers a peaceful retreat away from the bustle of larger cities, making it an attractive option for those looking to escape to a more relaxed lifestyle while still being within driving distance of urban amenities in nearby areas like Easton and Cambridge.

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