Mortgage payment estimates, closing cost breakdowns, and homebuying data for Boston, Massachusetts.
Median Home Price
$785K
Population
676K
Avg Monthly Rent
$3,150
Property Tax Rate
1.2% *
* Property tax shown is the Massachusetts state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Boston.
Boston vs Massachusetts Median
The median home price in Boston is $785,000, which is 32% above the Massachusetts state median of $595,000.
Mortgage Calculator — Boston, MA
Pre-filled with Boston median home price and Massachusetts tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $785K home using Massachusetts's 1.2% tax rate and $2,200/yr insurance.
5% Down
$6,117/mo
Down: $39,250
Loan: $746K
P&I: $4,714
Tax: $785
Insurance: $183
PMI: $435
10% Down
$5,846/mo
Down: $78,500
Loan: $707K
P&I: $4,466
Tax: $785
Insurance: $183
PMI: $412
20% Down (No PMI)
$4,938/mo
Down: $157,000
Loan: $628K
P&I: $3,969
Tax: $785
Insurance: $183
Income needed (28% rule): $212K/year with 20% down, $251K/year with 10% down.
Rent vs Buy in Boston
Rent
$3,150/mo
vs
Buy (10% down)
$5,846/mo
Price-to-rent ratio: 20.8 — At a ratio above 20, renting may be more economical in Boston for shorter stays. Buying costs $2,696 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Boston is $785,000, 32% above the Massachusetts state median of $595,000. With a population of 675,647, Boston is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in Massachusetts average 1.2% annually. This moderate property tax rate means a $785,000 home in Boston would carry roughly $785/month in property taxes. Homeowners insurance in Massachusetts runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Boston is $3,150/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Boston is a higher-cost market. At $785K median, buyers need significant savings or strong income. Down payment assistance through Massachusetts's MassHousing DPA program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Boston.