2026 data · 1.12% property tax · Median home $498,700
Massachusetts Mortgage Calculator
A median-priced home in Massachusetts ($498,700) costs roughly $3,344 per month all-in (PITI), assuming 20% down and a 30-year fixed at 7.0%. Massachusetts's effective property tax rate is 1.12% — close to the US average of about 1.0%.
Massachusetts median-home monthly payment
$3,344/mo
P&I $2,654 · Tax $465 · Insurance $224
@ $498,700 price, 20% down, 30-yr fixed at 7.0%
For a custom calculation with your specific numbers (different down payment, rate, term, or home price), use the main mortgage calculator — it includes a full amortization schedule.
Monthly payments at common home prices in Massachusetts
| Home price | 20% down | P&I | Prop tax | Insurance | Total PITI/mo |
|---|---|---|---|---|---|
| $200,000 | $40,000 | $1,064 | $187 | $90 | $1,341 |
| $300,000 | $60,000 | $1,597 | $280 | $135 | $2,012 |
| $400,000 | $80,000 | $2,129 | $373 | $180 | $2,682 |
| $498,700 (state median) | $99,740 | $2,654 | $465 | $224 | $3,344 |
| $500,000 | $100,000 | $2,661 | $467 | $225 | $3,353 |
| $750,000 | $150,000 | $3,992 | $700 | $338 | $5,029 |
Calculations use Massachusetts's 1.12% effective property tax rate, estimated homeowners insurance at 0.54%/year of home value, 30-year fixed at 7.0%, no PMI (20% down). Closing costs not included.
Massachusetts property tax
Effective rate
1.12%
Median home value
$498,700
Median property tax
$5,618/yr
Massachusetts has Proposition 2½, limiting annual property tax levy increases to 2.5%. Senior/disabled exemptions vary by municipality. Higher home values mean higher absolute tax bills.
See our property tax calculator for a state-by-state property tax breakdown, and our Massachusetts paycheck calculator to estimate take-home pay against this monthly housing cost.
Massachusetts vs neighboring states
| State | Property tax rate | Median home | Median tax/yr | |
|---|---|---|---|---|
| Massachusetts (this page) | 1.12% | $498,700 | $5,618 | |
| New Hampshire | 1.86% | $343,200 | $6,372 | New Hampshire mortgage → |
| Vermont | 1.83% | $285,800 | $5,230 | Vermont mortgage → |
| New York | 1.46% | $384,100 | $6,280 | New York mortgage → |
| Rhode Island | 1.37% | $322,100 | $4,378 | Rhode Island mortgage → |
FAQs about Massachusetts mortgages
What is the property tax rate in Massachusetts?
Massachusetts's effective property tax rate is 1.12%, meaning the average homeowner pays roughly 1.12% of their home's value in property tax annually. On a $498,700 home (the state median), that's about $5,618 per year, or $468 per month added to your mortgage payment.
What is the average monthly mortgage payment in Massachusetts?
For a home at Massachusetts's median value of $498,700, assuming 20% down, a 30-year fixed mortgage at 7.0%, and Massachusetts's 1.12% property tax + estimated insurance, the typical monthly PITI payment is approximately $3,344. This includes $2,654 principal & interest, $465 property tax, and $224 homeowners insurance.
How much income do I need to buy a house in Massachusetts?
Using the standard 28% front-end DTI rule, you'd need annual income of approximately $143,314 to comfortably afford Massachusetts's median-priced home. Lenders typically allow up to 43% total DTI (including all debts), which corresponds to about $93,321 annual income at the maximum end. Your specific qualification depends on credit score, down payment, debts, and lender requirements.
Is Massachusetts a good state to buy a house?
Massachusetts's combination of 1.12% property tax (near the national average of ~1.0%) and median home value of $498,700 place it in the mid-range of state housing markets nationally. Massachusetts has Proposition 2½, limiting annual property tax levy increases to 2.5%.
How does Massachusetts property tax compare to neighboring states?
Massachusetts's 1.12% rate compares to: New Hampshire at 1.86%, Vermont at 1.83%, New York at 1.46%, Rhode Island at 1.37%. Property taxes can differ substantially between bordering states — moving 30 miles across a state line can change your annual tax bill by thousands.
Does Massachusetts have a homestead exemption?
Massachusetts offers various property tax relief programs. Massachusetts has Proposition 2½, limiting annual property tax levy increases to 2.5%. Senior/disabled exemptions vary by municipality. Higher home values mean higher absolute tax bills. Check with your county assessor for primary-residence exemptions and senior/disabled programs that may reduce your annual property tax bill.
What's included in PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four standard components of a mortgage payment. For your Massachusetts mortgage, the breakdown on a median-priced home would be: Principal & Interest $2,654, Property Tax $465, Homeowners Insurance $224. Add PMI if your down payment is under 20%, and HOA fees if your home is in a community with one.