CALCMONEY // MORTGAGE // MA // WORCESTER
Calculate your monthly mortgage payment using Worcester-specific property tax rates and local market data.
$360,000
6.9%
1.55%
118
| Principal & Interest | $1,897 |
| Property Tax | $465 |
| Homeowners Insurance (est.) | $120 |
| Total Monthly Payment (PITI) | $2,482 |
$72,000
$394,837
$106,362/yr
Worcester's median home price sits at $360,000, 14% below the $420,000 national median. On a $55,000 median household income, that puts the price-to-income ratio at 6.5x, or 6.5 years of gross pay for the purchase price alone.
Worcester's 1.55% property tax rate runs above the 1.1% national average. That's $465/month on the median home here, not a rounding error against the mortgage payment.
Unlike the nine no-income-tax states, Massachusetts taxes wage income. Worth running your actual take-home pay against the $2,482/month payment here before locking in a target price.
Day-to-day expenses in Worcester track at 118 against the national 100 baseline, above average once you look past the mortgage payment itself.
Worcester's median home price runs 52% lower than nearby Boston: $750,000 there versus $360,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $288,000 loan saves $12,960 in interest over 30 years.
Compare Top Worcester Mortgage LendersBoston
$750,000 median
MASpringfield
$235,000 median
MALowell
$390,000 median
MACambridge
$950,000 median