CALCMONEY // HOME AFFORDABILITY // MA // BEDFORD
How much house can you afford in Bedford? Based on local median home prices, current MA mortgage rates, and Bedford property tax data.
$980,000
$6,415/mo
$274,914/yr
$552,977
Monthly housing costs of $6,415 represent 43.2% of Bedford's median gross monthly income ($14,833/mo). At 43.2%, median-income buyers in Bedford are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $980,000 |
| Down Payment (20%) | $196,000 |
| Loan Amount | $784,000 |
| Monthly PI Payment | $5,190 |
| Monthly Property Tax | $817 |
| Monthly Insurance Est. | $408 |
| Total Monthly PITI | $6,415 |
| Housing Cost % of Income | 43.2% |
| Required Income (28% rule) | $274,914/yr |
| Max Affordable Home | $552,977 |
$34,300
$8,155/mo
Bedford Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $980,000 | Bedford city median |
| Down Payment (20%) | $196,000 | Conventional loan |
| Monthly PITI | $6,415 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $274,914 | Annual gross |
| Max Affordable Home | $552,977 | Based on median income |
| FHA Down (3.5%) | $34,300 | Minimum FHA |
| Housing Cost % of Income | 43.2% | Median income: $178,000/yr |
| Property Tax Rate | 1% | $9,800/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Bedford is $980,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $784,000, generating a monthly P&I payment of $5,190. Adding property taxes ($817/mo) and homeowners insurance ($408/mo) brings total monthly PITI to $6,415.
Bedford's property tax rate of 1% is near the national average, adding a standard increment to monthly housing costs. On the Bedford median home, that is $817/month, or $9,800 per year.
Massachusetts levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Bedford should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Bedford's median income of $178,000/year can afford up to $4,153/month in total housing costs. Based on Bedford's mortgage rate of 6.95% and property tax rate of 1%, that translates to a maximum affordable home price of approximately $552,977 with 20% down on a 30-year loan.
To afford the median Bedford home priced at $980,000, you need an annual gross income of approximately $274,914. Total monthly housing costs (principal and interest of $5,190, property taxes of $817, and insurance of $408) come to $6,415/month, which equals 28% of the required income.
At the median home price of $980,000 and median household income of $178,000, the total monthly housing cost of $6,415 represents 43.2% of gross monthly income. This is well above the standard 28% threshold, making Bedford a challenging market for buyers at median income.
A conventional 20% down payment on the median Bedford home of $980,000 is $196,000. An FHA loan requires just 3.5% down — $34,300 — but adds mortgage insurance of roughly $670/month, bringing total FHA payments to $8,155/month.
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