THUMBS UP: Hampstead has been recognized as one of the most affordable places in Maryland to own a home by the website smartasset.com. The rankings, which placed Hampstead seventh, were based on the average closing costs, mortgage payments, homeowner's insurance rates and property taxes for a home in each location over a five-year period. The rankings were then made by taking those calculated costs as a proportion of the median income in each town or city. Hampstead's average closing costs were $6,500; property tax was $2,367; the average homeowner's insurance $1,073 and average annual mortgage payment was $11,854. The median household income in Hampstead is $75,135.