How Much House Can I Afford in Massachusetts? (2026)
Last updated: April 2026 · Source: Zillow, Freddie Mac, Tax Foundation
Quick Answer
At the Massachusetts median income of $86,000/year, you can typically afford a home up to $344,000 (4× rule), or $258,000 conservatively (3× rule). The median home in Massachusetts costs $590,000, so a household earning $147,500+ can afford the typical home.
Massachusetts Housing & Mortgage Data
| Median Home Price | $590,000 |
| 30-Year Fixed Rate | 6.90%(State average, Apr 2026) |
| Property Tax Rate | 1.12%(Effective rate) |
| Avg HO Insurance | $1,600/yr ($133/mo) |
| Typical Down Payment | 12% ($70,800) |
| Median Household Income | $86,000/yr |
Key Facts for Massachusetts
- ✓Massachusetts median home price is $590,000 as of 2026
- ✓30-year fixed mortgage rates in Massachusetts average 6.90%
- ✓Property taxes in Massachusetts are 1.12% — near the national average of 1.10%
- ✓Homeowners insurance averages $1,600/year in Massachusetts
- ✓A household earning $147,500/year can typically afford the median Massachusetts home
More Massachusetts Calculators
Frequently Asked Questions — Mortgage Affordability Calculator in Massachusetts
- What income do I need to afford a home in Massachusetts?
- Using the 28% front-end ratio rule: your mortgage payment (PITI) should not exceed 28% of gross monthly income. The Massachusetts median home at $590,000 has a total monthly PITI of approximately $4,181. That implies a minimum gross income of $14,933/month.
- What is the debt-to-income ratio limit for mortgages in Massachusetts?
- Most Massachusetts lenders require a back-end DTI (all debts including the mortgage) of 43% or below for conventional loans. FHA allows up to 50% DTI with compensating factors. The front-end DTI (mortgage payment only) should ideally be below 28%. If you have $500/month in existing debt payments, your maximum mortgage payment is reduced accordingly.
- What is the average mortgage payment in Massachusetts?
- The average monthly mortgage payment (principal + interest) in Massachusetts is approximately $3,419 for a $519,200 loan at 6.90% over 30 years. Adding property tax ($551/mo) and homeowners insurance ($133/mo) brings total PITI to about $4,103/month.
- What credit score do I need for a mortgage in Massachusetts?
- Most Massachusetts lenders require a minimum 620 credit score for conventional loans and 580 for FHA loans (with 3.5% down). For the best rates in Massachusetts, aim for 740+. A higher score can reduce your rate by 0.5–1.0%, saving $77,880 over the life of a 30-year loan.
- How much down payment is required to buy a home in Massachusetts?
- You can buy a home in Massachusetts with as little as 0% down (VA, USDA loans for eligible buyers), 3% down (conventional), or 3.5% down (FHA). On the Massachusetts median home price of $590,000, a 20% down payment is $118,000 and lets you avoid PMI. Massachusetts also has state-level down payment assistance programs for first-time buyers.
- What are current mortgage rates in Massachusetts?
- Current 30-year fixed mortgage rates in Massachusetts average 6.90% as of April 2026. 15-year fixed rates are typically 0.5–0.75% lower. Rates vary by lender, credit score, and loan-to-value ratio. Compare at least 3–5 lenders to ensure you get the best Massachusetts mortgage rate.
- What is the property tax rate in Massachusetts?
- Massachusetts's effective property tax rate is 1.12%. On the Massachusetts median home value of $590,000, annual property taxes are approximately $6,608 ($551/month). Property taxes in Massachusetts are typically escrowed in your monthly mortgage payment.