Mortgage for Massachusetts (2026)
Massachusetts (MA) Key Facts
Median Home Price
$570,000
Average Property Tax Rate
1.23%
Average Home Insurance Rate
0.55%
Estimated Monthly Payment
$4,173
First Time Buyer Programs
2
How This Calculator Works in Massachusetts
This mortgage calculator lets you estimate your monthly payment on a Massachusetts home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Massachusetts's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
Massachusetts Overview
Massachusetts has a median home price of approximately $580K, with an average property tax rate of 1.23% and homeowners insurance averaging 0.55% annually. Title V septic inspections required before sale. MassHousing down payment assistance and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates, and an attorney is required at closing for legal oversight.
How Massachusetts Compares
Compared to neighboring states, Massachusetts's median home price of $570,000 is above the national median of about $420,000. Nearby Connecticut has a median price of $380,000 with a 2.15% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Connecticut | $380,000 | Median home price is $380,000 with a 2.15% property tax rate. Estimated monthly mortgage payment is about $3,089. |
| Rhode Island | $420,000 | Median home price is $420,000 with a 1.63% property tax rate. Estimated monthly mortgage payment is about $3,232. |
| New Hampshire | $450,000 | Median home price is $450,000 with a 2.18% property tax rate. Estimated monthly mortgage payment is about $3,651. |
The median home price in Massachusetts is $570,000, compared to the national median of approximately $420,000. With a 1.23% average property tax rate and 0.55% insurance rate, Massachusetts homeowners can expect an estimated monthly payment of about $4,173 on a median-priced home with 10% down at 6.75% interest.
Tips for Massachusetts Residents
- 1Massachusetts has a median home price around $580K. Title V septic inspections required before sale. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Massachusetts average 1.23%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore MassHousing down payment assistance for potential down payment assistance and favorable rates. Massachusetts also offers ONE Mortgage Program. Check income limits and eligibility early in your home search.
- 4Attorney required at closing; budget for title insurance. Massachusetts requires an attorney at closing, which adds cost but provides legal protection during the transaction.
- 5One of the highest costs of living in the US. A 0.25% rate difference on a $570K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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