Mortgage Calculator & Closing Costs: Cambridge, MA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Cambridge, Massachusetts.
Median Home Price
$925K
Population
118K
Avg Monthly Rent
$3,350
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 Cambridge.
Cambridge vs Massachusetts Median
The median home price in Cambridge is $925,000, which is 55% above the Massachusetts state median of $595,000.
Mortgage Calculator — Cambridge, MA
Pre-filled with Cambridge median home price and Massachusetts tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $925K home using Massachusetts's 1.2% tax rate and $2,200/yr insurance.
5% Down
$7,175/mo
Down: $46,250
Loan: $879K
P&I: $5,554
Tax: $925
Insurance: $183
PMI: $513
10% Down
$6,856/mo
Down: $92,500
Loan: $833K
P&I: $5,262
Tax: $925
Insurance: $183
PMI: $486
20% Down (No PMI)
$5,786/mo
Down: $185,000
Loan: $740K
P&I: $4,677
Tax: $925
Insurance: $183
Income needed (28% rule): $248K/year with 20% down, $294K/year with 10% down.
Rent vs Buy in Cambridge
Rent
$3,350/mo
vs
Buy (10% down)
$6,856/mo
Price-to-rent ratio: 23.0 — At a ratio above 20, renting may be more economical in Cambridge for shorter stays. Buying costs $3,506 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 Cambridge is $925,000, 55% above the Massachusetts state median of $595,000. With a population of 118,403, Cambridge is a mid-size city 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 $925,000 home in Cambridge would carry roughly $925/month in property taxes. Homeowners insurance in Massachusetts runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Cambridge is $3,350/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.
Cambridge is a higher-cost market. At $925K 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 Cambridge.