CALCMONEY // HOME AFFORDABILITY // MA
Find out how much home you can afford in Massachusetts using local median home prices, current mortgage rates, and MA-specific property tax data.
Open Full Calculator$669,053
$4,311/mo
$309,903
$184,776/yr
| Median Home Price | $669,053 |
| Down Payment (20%) | $133,811 |
| Loan Amount | $535,242 |
| Monthly PI Payment | $3,475 |
| Monthly Property Tax | $558 |
| Monthly Insurance Est. | $279 |
| Total Monthly PITI | $4,311 |
| Required Gross Income (28% rule) | $184,776/yr |
| Max Affordable Price (28% rule) | $309,903 |
$23,417
$5,486/mo
Massachusetts Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $669,053 | State median |
| Down Payment (20%) | $133,811 | Conventional |
| Monthly PITI (median home) | $4,311 | 6.76% rate |
| Required Income (28% rule) | $184,776 | Annual gross |
| Max Affordable Home | $309,903 | Based on median income |
| FHA Down Payment (3.5%) | $23,417 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Massachusetts is $669,053, with a current 30-year fixed mortgage rate of 6.76%. A buyer putting 20% down on the median home would carry a loan of $535,242, resulting in a monthly principal and interest payment of $3,475. Once property taxes and insurance are added, total monthly housing costs reach $4,311.
Property taxes in Massachusetts average 1%, near the national average of 1.1%. On the median Massachusetts home, property taxes add $558/month to total housing costs.
Massachusetts levies a state income tax of 5% + 4% surtax on $1M+, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Massachusetts state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Massachusetts's median income of $104,828/year can afford up to $2,446/month in total housing costs (principal, interest, taxes, and insurance). Based on Massachusetts's current mortgage rate of 6.76% and property tax rate of 1%, that translates to a maximum affordable home price of approximately $309,903 with 20% down on a 30-year loan.
To comfortably afford the median Massachusetts home priced at $669,053, you need an annual gross income of approximately $184,776. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $3,475, property taxes of $558, and insurance of $279) come to $4,311/month, which should not exceed 28% of your gross monthly income.
Massachusetts's average property tax rate is 1%, which is near the national average of 1.1%. On the median Massachusetts home of $669,053, that means annual property taxes of $6,691, or $558/month. Because lenders include property taxes in your debt-to-income calculation, Massachusetts's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Massachusetts home of $669,053, that is $23,417. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($133,811 on the median Massachusetts home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Massachusetts-specific minimum down payment requirements beyond federal guidelines.