According to data from ClosingCorp, the average closing cost in Maryland is $11,709.74 after taxes, or approximately 2.93% to 3.9% of the final home sale price.
Across the state, the average home sells for between $300,000 and $400,000. If you buy a property in that range, expect to pay between $8,782.31 and $15,612.99 in closing costs after taxes.
| Data | Value |
|---|---|
| Average home sale price | $300,000 to $400,000 |
| Average total closing cost | $11,709.74 |
| Expected closing cost range | $8,782.31 to $15,612.99 |
| Percentage of closing cost to home sale price | 2.93% to 3.9% |
Buyers and sellers in Maryland pay an average of $7,883.92 in tax combined for the closing. This accounts for 67.33% of the total average closing cost in Maryland.
| Value | |
|---|---|
| Average tax paid | $7,883.92 |
| Percentage of total closing cost | 67.33% |
The closing costs for buying a home in Maryland are amongst the nation's highest after accounting for taxes. It’s 49 in our rankings which rates states from lowest to highest closing cost.
| Average total closing cost in Maryland | Ranking* | |
|---|---|---|
| Before taxes | $3,825.82 | 35 |
| After taxes | $11,709.74 | 49 |
*Ranked from lowest to highest of the 50 states plus Washington DC
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in Maryland.
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