CALCMONEY // HOME AFFORDABILITY // MA // BELMONT
How much house can you afford in Belmont? Based on local median home prices, current MA mortgage rates, and Belmont property tax data.
$1,250,000
$8,286/mo
$355,121/yr
$654,634
Monthly housing costs of $8,286 represent 45.2% of Belmont's median gross monthly income ($18,333/mo). At 45.2%, median-income buyers in Belmont are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $1,250,000 |
| Down Payment (20%) | $250,000 |
| Loan Amount | $1,000,000 |
| Monthly PI Payment | $6,619 |
| Monthly Property Tax | $1,146 |
| Monthly Insurance Est. | $521 |
| Total Monthly PITI | $8,286 |
| Housing Cost % of Income | 45.2% |
| Required Income (28% rule) | $355,121/yr |
| Max Affordable Home | $654,634 |
$43,750
$10,506/mo
Belmont Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $1,250,000 | Belmont city median |
| Down Payment (20%) | $250,000 | Conventional loan |
| Monthly PITI | $8,286 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $355,121 | Annual gross |
| Max Affordable Home | $654,634 | Based on median income |
| FHA Down (3.5%) | $43,750 | Minimum FHA |
| Housing Cost % of Income | 45.2% | Median income: $220,000/yr |
| Property Tax Rate | 1.1% | $13,750/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Belmont is $1,250,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $1,000,000, generating a monthly P&I payment of $6,619. Adding property taxes ($1,146/mo) and homeowners insurance ($521/mo) brings total monthly PITI to $8,286.
Belmont's property tax rate of 1.1% is near the national average, adding a standard increment to monthly housing costs. On the Belmont median home, that is $1,146/month, or $13,750 per year.
Massachusetts levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Belmont 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 Belmont's median income of $220,000/year can afford up to $5,133/month in total housing costs. Based on Belmont's mortgage rate of 6.95% and property tax rate of 1.1%, that translates to a maximum affordable home price of approximately $654,634 with 20% down on a 30-year loan.
To afford the median Belmont home priced at $1,250,000, you need an annual gross income of approximately $355,121. Total monthly housing costs (principal and interest of $6,619, property taxes of $1,146, and insurance of $521) come to $8,286/month, which equals 28% of the required income.
At the median home price of $1,250,000 and median household income of $220,000, the total monthly housing cost of $8,286 represents 45.2% of gross monthly income. This is well above the standard 28% threshold, making Belmont a challenging market for buyers at median income.
A conventional 20% down payment on the median Belmont home of $1,250,000 is $250,000. An FHA loan requires just 3.5% down — $43,750 — but adds mortgage insurance of roughly $854/month, bringing total FHA payments to $10,506/month.
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