CALCMONEY // HOME AFFORDABILITY // MA // NEWTON
How much house can you afford in Newton? Based on local median home prices, current MA mortgage rates, and Newton property tax data.
$1,050,000
$6,838/mo
$293,050/yr
$308,491
Monthly housing costs of $6,838 represent 63.6% of Newton's median gross monthly income ($10,750/mo). At 63.6%, median-income buyers in Newton are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $1,050,000 |
| Down Payment (20%) | $210,000 |
| Loan Amount | $840,000 |
| Monthly PI Payment | $5,420 |
| Monthly Property Tax | $980 |
| Monthly Insurance Est. | $438 |
| Total Monthly PITI | $6,838 |
| Housing Cost % of Income | 63.6% |
| Required Income (28% rule) | $293,050/yr |
| Max Affordable Home | $308,491 |
$36,750
$8,673/mo
Newton Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $1,050,000 | Newton city median |
| Down Payment (20%) | $210,000 | Conventional loan |
| Monthly PITI | $6,838 | 6.7% rate, 30yr fixed |
| Required Income (28% rule) | $293,050 | Annual gross |
| Max Affordable Home | $308,491 | Based on median income |
| FHA Down (3.5%) | $36,750 | Minimum FHA |
| Housing Cost % of Income | 63.6% | Median income: $129,000/yr |
| Property Tax Rate | 1.12% | $11,760/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Newton is $1,050,000, with a local 30-year mortgage rate of 6.7%. A buyer putting 20% down carries a loan of $840,000, generating a monthly P&I payment of $5,420. Adding property taxes ($980/mo) and homeowners insurance ($438/mo) brings total monthly PITI to $6,838.
Newton's property tax rate of 1.12% is near the national average, adding a standard increment to monthly housing costs. On the Newton median home, that is $980/month, or $11,760 per year.
Massachusetts levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Newton 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 Newton's median income of $129,000/year can afford up to $3,010/month in total housing costs. Based on Newton's mortgage rate of 6.7% and property tax rate of 1.12%, that translates to a maximum affordable home price of approximately $308,491 with 20% down on a 30-year loan.
To afford the median Newton home priced at $1,050,000, you need an annual gross income of approximately $293,050. Total monthly housing costs (principal and interest of $5,420, property taxes of $980, and insurance of $438) come to $6,838/month, which equals 28% of the required income.
At the median home price of $1,050,000 and median household income of $129,000, the total monthly housing cost of $6,838 represents 63.6% of gross monthly income. This is well above the standard 28% threshold, making Newton a challenging market for buyers at median income.
A conventional 20% down payment on the median Newton home of $1,050,000 is $210,000. An FHA loan requires just 3.5% down — $36,750 — but adds mortgage insurance of roughly $718/month, bringing total FHA payments to $8,673/month.
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