CALCMONEY // HOME AFFORDABILITY // MA // WORCESTER
How much house can you afford in Worcester? Based on local median home prices, current MA mortgage rates, and Worcester property tax data.
$360,000
$2,512/mo
$107,647/yr
$126,847
Monthly housing costs of $2,512 represent 54.8% of Worcester's median gross monthly income ($4,583/mo). At 54.8%, median-income buyers in Worcester are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $360,000 |
| Down Payment (20%) | $72,000 |
| Loan Amount | $288,000 |
| Monthly PI Payment | $1,897 |
| Monthly Property Tax | $465 |
| Monthly Insurance Est. | $150 |
| Total Monthly PITI | $2,512 |
| Housing Cost % of Income | 54.8% |
| Required Income (28% rule) | $107,647/yr |
| Max Affordable Home | $126,847 |
$12,600
$3,149/mo
Worcester Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $360,000 | Worcester city median |
| Down Payment (20%) | $72,000 | Conventional loan |
| Monthly PITI | $2,512 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $107,647 | Annual gross |
| Max Affordable Home | $126,847 | Based on median income |
| FHA Down (3.5%) | $12,600 | Minimum FHA |
| Housing Cost % of Income | 54.8% | Median income: $55,000/yr |
| Property Tax Rate | 1.55% | $5,580/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Worcester is $360,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $288,000, generating a monthly P&I payment of $1,897. Adding property taxes ($465/mo) and homeowners insurance ($150/mo) brings total monthly PITI to $2,512.
Worcester's property tax rate of 1.55% is near the national average, adding a standard increment to monthly housing costs. On the Worcester median home, that is $465/month, or $5,580 per year.
Massachusetts levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Worcester 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 Worcester's median income of $55,000/year can afford up to $1,283/month in total housing costs. Based on Worcester's mortgage rate of 6.9% and property tax rate of 1.55%, that translates to a maximum affordable home price of approximately $126,847 with 20% down on a 30-year loan.
To afford the median Worcester home priced at $360,000, you need an annual gross income of approximately $107,647. Total monthly housing costs (principal and interest of $1,897, property taxes of $465, and insurance of $150) come to $2,512/month, which equals 28% of the required income.
At the median home price of $360,000 and median household income of $55,000, the total monthly housing cost of $2,512 represents 54.8% of gross monthly income. This is well above the standard 28% threshold, making Worcester a challenging market for buyers at median income.
A conventional 20% down payment on the median Worcester home of $360,000 is $72,000. An FHA loan requires just 3.5% down — $12,600 — but adds mortgage insurance of roughly $246/month, bringing total FHA payments to $3,149/month.
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