Allegany County's January First-Time Homebuyer Report

The population of Allegany County is much less affluent than average compared to others in Maryland with a median income of $39,256 per household. It's also considered a much less expensive county in terms of affordability with a cost of living adjustment score of 97.1. Cumberland and Frostburg are its two most populated cities. Homes in Allegany County are older than most with a median age of 57 years. Topping the list of best schools in the county is Bel Air Elementary School.

Price Range

Allegany County has some of the more affordable homes in the state with a median home value of $114,300 and a current average list price of $106,739. The Allegany County remained below its 12-month average sales volume this week as sales fell 10.9% to hit 41 homes sold over the last 30 days.

Curious as to which homes have been getting the most attention in Allegany County? These listings have stirred up interest and produced the most views:

$424K   $363K   $114K  

Typical Dwelling

A three-bedroom detached home valued around $107,602 is considered a typical dwelling in Allegany County. If a buyer was looking for a similar home, they would need good credit and a $21,520 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $551 and the property tax rate is $10.65 per $1,000 of taxable assessed value.

Get started right now by checking out Allegany County homes for sale or reviewing Allegany County real estate trends.


Data reported through 1/12/2017

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