Quick facts: Essex, MD

Quick Facts

114.1
Cost of Living
above US average
40,842
Population
12.24
Crime Rate per 1000
below US average
$67,580
Median Income
below US average
$315,000
Median House Price
above US average
$2042.94
Average Rent
above US average
10%
Poverty Rate
below US average
4.5%
Unemployment Rate
above 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 $67,580.

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Income Needed to Buy

βœ— Stretch
$99k/year
Based on $315,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $99k vs median $67,580
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Income Needed to Rent

⚠ Stretch
$88k/year
Based on $2042.94/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $88k vs median $67,580
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Essex, MD

Essex, Maryland, is a suburban community located in Baltimore County, just east of Baltimore City. Known for its historical roots and family-friendly atmosphere, Essex offers a mix of residential neighborhoods, commercial areas, and recreational spots. The community boasts several parks, including the popular Rocky Point Park, which features scenic views of the Chesapeake Bay, picnic areas, and walking trails. Essex is well-connected by major roadways, including Interstate 95, making it accessible to nearby urban centers and shopping hubs. The area has a rich history, with several historic sites and landmarks that reflect its maritime heritage. Residents enjoy a diverse range of dining and shopping options, along with good schools and community services. The proximity to Baltimore provides additional cultural, educational, and entertainment opportunities, including museums, theaters, and sporting events. With its blend of urban convenience and suburban charm, Essex, MD is an appealing destination for families and individuals seeking a vibrant community atmosphere.

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